2014 was an exciting year for the global telemedicine industry, with a growing number of medical service providers turning to it to provide immediate and cost-effective healthcare to patients worldwide. We have seen the coming of telemedicine robots (by Dignity health), Google launching its video platform for remote medical consultation, and retail giants such as Walgreens, Walmart, Target, and CVS throwing their hats into the telehealth ring.
While this boom in telemedicine healthcare could be attributed to the increasing use of wearable devices and the rise of video as a viable method to provide remote monitoring and care, there has been an obvious shift in attitude towards telemedicine and remote healthcare that has leveraged its adoption in a big way. As we step into a brand new year, everyone is anxious to know how telemedicine will fare in 2015. In a recent article published in VentureBeat.com, Managing Director of New York-based incubator, Highnote Foundry, Chirag Patel has shed light on what we can expect from telemedicine this year.
Mr. Patel pointed out that telemedicine is taking center stage in nearly all predictive discussions related to healthcare, and most of those discussions conclude that 2015 will be the year of telemedicine. Here are some stats that we think are worth noting:
- BBC Research and Towers Watson estimated the Global Telemedicine market will reach $27 billion by 2016, with Virtual Health Services contributing to $16 billion of that amount.
- According to IDC, by 2018, 65% of interactions with healthcare organizations will be done via mobile devices and 70% of them will have apps, offer wearables, conduct remote health monitoring, and even offer virtual care.
- In 2014, more than one-third of the Google Ventures investment went to healthcare and life-sciences companies.
Telemedicine definitely holds the great promise of faster, better, and more cost-effective healthcare for patients; however, for the industry to stay true to its anticipated growth in 2015, the following needs to be ensured:
- Virtual diagnosis and on-the-spot treatment must fuse so that the patients get the benefits of prompt diagnosis and immediate treatment.
- The best in connected devices must be used for the purpose of tracking and maintaining patient and care data.
- Post-treatment care and compliance should be offered to patients to evaluate whether or not their treatment has been effective.
With those assurances in place, telemedicine is poised to exceed our expectations for the coming year.
Do you think 2015 will be the year of adopting telemedicine?
About Bob Higginbotham
Bob Higginbotham, CTS-I, CTS-D, is the Avidex National Manager of Healthcare AV. Bob has spent his 30 year career in leadership positions in the AV industry including extensive design and build work in healthcare facilities. He owned and operated a successful AV business in Texas with multiple offices in several cities where he managed a staff of over 100 employees. Bob has served as a technical consultant for a major AV manufacturer, led the technical sales team for a national video conferencing provider and provided technology auditing services for several private education facilities. He has a unique working knowledge of audiovisual technology as well as multiple certifications in audio engineering, acoustics, AV design, CQT system commissioning and video transmission systems. Bob holds a BA in communications and has recently served as board chair for a large private school. He brings his years of technical knowledge and leadership experience to Avidex where he leads the national healthcare AV team. Contact Bob at email@example.com