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 The leading web portal for pharmacy resources, news, education and careers November 14, 2018
Pharmacy Choice - Pharmaceutical News - Telehealth Services Market Must Extend Beyond the Hospital to Achieve Full Potential - November 14, 2018

Pharmacy News Article

 11/8/18 - Telehealth Services Market Must Extend Beyond the Hospital to Achieve Full Potential

BOSTON, Nov. 8, 2018 /PRNewswire/ With dynamic shifts in the business of healthcare delivery and reimbursement, the market for telehealth solutions is poised to expand from its historical role supporting clinical care within hospitals to supporting patient care and self-management beyond the clinic walls, according to the latest report from Chilmark Research.

Chilmark Research is the only industry analyst firm focusing solely on the most transformational trends in healthcare IT. We combine proven research methodologies with intelligence and insight to provide cogent analyses of the emerging technologies that have the greatest potential to improve healthcare. We do not shy away from making tough calls, and are respected in the industry for our direct and thoughtful commentary. For more information visit:  http://www.chilmarkresearch.com . (PRNewsFoto/Chilmark Research) (PRNewsFoto/Chilmark Research) (PRNewsFoto/Chilmark Research)

According to the report, Telehealth 2018: Vendor Assessment and Market Outlook, several factors are driving this expansion. Along with consumer demand for more convenient care options and increasingly favorable insurance reimbursement policies, the growth of value-based care (VBC) business models has triggered greater interest in solutions that help healthcare organizations (HCOs) keep track of patients after care encounters. With penalties rising for HCOs that fail to prevent readmissions or improve clinical outcomes, it's more important than ever to empower patients with technology solutions that help them self-manage their health and wellness.

At the same time, many of the challenges that have discouraged telehealth implementation in the past remain in place. HCOs need to overcome resistance to using technology and integrate telehealth into clinical workflows. One strategy, as described in the report, is to create a centralized telehealth department where all decisions about technology and clinical use cases are made with organizational buy-in.

"Changing healthcare business models as well as consumer demands will increasingly motivate healthcare providers, payers, and self-insured employers to adopt a 'telehealth beyond the hospital' approach, both in the home and at third-party care sites," said Brian Eastwood, the lead author of the report. "Stakeholders that are slow to adopt this approach risk losing patients to other care venues that view telehealth as a competitive advantage and not a source of competition."

In addition to examining what traditional healthcare stakeholders must do to support telehealth beyond the hospital, this report considers the role of emerging stakeholders a list that includes retail health, urgent care, employer-sponsored clinics, digital therapeutics solutions, and the "smart home" enabled by voice-activated virtual assistants. Together, these emerging stakeholders demonstrate how patients' first point of interaction with healthcare services is quickly being disrupted by consumer-centric business models and technology solutions.

The report includes profiles of 12 vendors identified as representative market leaders due to factors such as brand awareness, market visibility, support for patient self-management, proven outcomes, ease of use, and product vision. These vendors are divided among three core competencies of telehealth technology: Direct-to-consumer (DTC) solutions, acute care solutions, and remote patient monitoring (RPM) solutions. For each profiled vendor, the report provides a heat map identifying which sites of care and underlying telehealth technology solutions are high, medium, or low priorities or roadmap items.

Current and prospective vendors of telehealth solutions will find the vendor recommendations, market adoption and trajectory over the next several years, and outlook on potential technology disruptors especially valuable for market positioning and planning long-term strategy. For providers, payers, and self-insured employers looking to buy or replace a telehealth solution, the report also identifies key performance indicators for several telehealth strategies, clinical and revenue benefits of adoption, plus provider-specific recommendations. Consultants, investors, patient advocates, and others will also benefit from this in-depth report.

The report is available to subscribers of the Chilmark Advisory Service or may be purchased separately. To read more or download a preview, please view the report page here. Direct inquiries for purchase should be addressed to Brad Sjosten, Director of Business Development, at brad@chilmarkresearch.com.

A webinar accompanying the release of the report is scheduled for late November.

Vendors Profiled: American Well, Doctor on Demand, GE Healthcare, InTouch Health, MDLive, Philips, SnapMD, SOC Telemed, Teladoc Health, TytoCare, Vivify Health, Zipnosis

About Chilmark Research:

Chilmark Research is the only industry analyst firm focusing solely on the most transformational trends in healthcare IT. We combine proven research methodologies with intelligence and insight to provide cogent analyses of the emerging technologies that have the greatest potential to improve healthcare. We do not shy away from making tough calls and are respected in the industry for our direct and thoughtful commentary. For more information visit: www.chilmarkresearch.com/

Media Contact:
Hannah Ehnle
hannah@chilmarkresearch.com
(617) 987-5026

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/telehealth-services-market-must-extend-beyond-the-hospital-to-achieve-full-potential-300745889.html

SOURCE Chilmark Research




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