Skip to content Skip to navigation

Telehealth Services Market Projected for Considerable Growth, Report Says

March 17, 2014
by Rajiv Leventhal
| Reprints

Revenue in the telehealth services industry is expected to increase by an annualized 30.7 percent to $320.2 million in the next five years, including revenue growth of 23.1 percent in 2014, according to a new report from market researcher market researcher IBISWorld.

The report says telehealth services include diagnosis, treatment, assessment, monitoring, communication and education. The industry includes a wide range of information, networking and digital imaging technologies, delivered primarily in three ways: videoconferencing, which provides real-time patient-provider consultations and provider-to-provider discussions; remote patient monitoring, in which electronic devices transmit patient health information to healthcare providers; and store-and-forward technologies, which transmit digital images, such as X-rays, computerized tomography (CT) scans and video clips between primary care providers and medical specialists.

Advances in communication technology and medical technology, such as wearable self-monitoring devices and digitized medical scans, have propelled the industry forward, the report concludes. A survey earlier this year from Accenture found that more than half of the 6,000 consumers questioned were interested in buying wearable technologies such as fitness monitors for tracking physical activity and managing their personal health. Furthermore, industry growth has been supported by a healthcare system suffering from skyrocketing costs, a looming doctor shortage and an aging population susceptible to chronic disease.

“Over the next five years, the industry will continue to benefit from the demographic and structural factors affecting the healthcare industry as telehealth will emerge as a cost-effective solution to meeting the medical needs of an expanding and aging population,” IBISWorld industry analyst Stephen Morea said in a statement. In addition, existing legislation, such as the Affordable Care Act, and pending legislation will increase federal support for telehealth services, benefiting patients, healthcare providers and industry operators. Last, future innovations will likely increase the scope and availability of telehealth services, according to the report.

Read the source article at Press Release Services

Health IT Summit Series - Focus: TELEHEALTH

Get the latest information on Telehealth, and attend other valuable sessions at this two-day, intimate event bringing together C-level, physician, practice management and IT decision makers for strategy discussions, knowledge exchange, and one-on-one meetings.

Boston, June 23-24   |   Denver, July 12-13
Topics

News

Health IT Leaders Address Cybersecurity Responsibilities at HHS during Congressional Hearing

May 25, 2016
During a House Energy and Commerce Subcommittee on Health hearing, healthcare IT leaders and security experts testified in support of proposed legislation to elevate and empower the CISO at the U.S. Department of Health and Human Services (HHS).

Study: Automated, Real-Time Surveillance Significantly Reduced Sepsis Mortality

May 25, 2016
Automated surveillance and real-time analysis led to a significant reduction in sepsis mortality at Alabama’s Huntsville Hospital, according to research recently published in the Journal of the American Medical Informatics Association (JAMIA).

Report: Bill to Fight Zika Could Strip HHS of MACRA Funds

May 25, 2016
With a House bill providing money to fight the Zika virus pending, the Department of Health and Human Services (HHS) may be stripped of funds that it was planning to use for Medicare Access and CHIP Reauthorization Act (MACRA) information technology provisions, according to a Morning Consult report.

Healthcare Organizations Push to Look at New Data Sources to Assess Telemedicine in Medicare

May 24, 2016
Several healthcare organizations have sent a letter to the Congressional Budget Office (CBO) and the Medicare Payment Advisory Commission (MedPAC) regarding the use of alternative data sources for cost estimates and analyses of telemedicine utilization in the Medicare program.

Study: Sharing Visit Notes with Patients Improves Patient Satisfaction, Trust and Safety

May 24, 2016
Improving transparency between physicians and their patients by allowing patients to view their visit notes in their health records can improve patient satisfaction, trust and safety, according to a recently published study.

CareFirst BlueCross BlueShield Awards $3M to Regional Telemedicine Programs

May 24, 2016
Baltimore-based CareFirst BlueCross BlueShield plans to award nearly $3 million to ten healthcare organizations to help develop or expand existing regional telemedicine initiatives.

Intermountain Launches New Telehealth Service

May 24, 2016
Intermountain Healthcare has launched a new telehealth service that connects patients in Idaho and Utah with the health system’s providers 24 hours a day, 7 days a week, through video and audio conferencing on the web.

Kansas Heart Hospital Hit With Ransomware; Hackers Do Not Unlock Files After Receiving Ransom Payment

May 23, 2016
Wichita, Kan.-based Kansas Heart Hospital was hit with a ransomware attack last Wednesday, but after the hospital paid an undisclosed ransom, the hackers demanded more, according to local news reports.

Intermountain Healthcare Names New CEO

May 23, 2016
Salt Lake City-based Intermountain Healthcare has appointed A. Marc Harrison, M.D., as its new president and CEO to take the helm when current CEO Charles Sorenson, M.D., retires in October.

Study: Hospitals Making Significant Investments in Smartphone-Based Communications

May 20, 2016
Sixty-three percent of hospitals and health systems have deployed or plan to deploy a mobile communications platform supporting more than 500 smartphones in the next year, according to a new survey from Spyglass Consulting Group.

UConn Health Appoints Dirk Stanley, M.D., as First CMIO to Oversee EMR Implementation Project

May 20, 2016
The University of Connecticut Health Center (UConn Health), based in Farmington, Conn., has announced the appointment of Dirk Stanley, M.D., as its first Chief Medical Information Officer.

Potential Data Breach at Children’s National Health System Due to Vendor Misconfiguration

May 20, 2016
Children’s National Health System, based in Washington, D.C., has issued a notice about a potential data breach after a third-party vendor inadvertently misconfigured a file site that enabled patient information to be accessed online.

CHIME, AEHIS, Offer Suggestions to Lawmakers for Improved Cybersecurity

May 20, 2016
The College of Healthcare Information Management Executives (CHIME) and the Association for Executives in Healthcare Information Security (AEHIS) have written a statement to lawmakers offering suggestions for how to bolster healthcare cybersecurity.

MUSC Health Invests $36M in Patient Monitoring Technology Partnership

May 20, 2016
Charleston-based Medical University of South Carolina Health (MUSC Health) announced an 8-year, $36 million strategic partnership with Philips to implement integrated patient monitoring technologies.

CIOs Under Pressure to Keep Up With Interoperability, Big Data and Security Challenges

May 19, 2016
Healthcare CIOs expect IT budgets to increase in the next two years, but, at the same time, healthcare IT leaders are facing pressing challenges related to security and compliance and the role of IT in driving revenue, according to a new survey report.

Pages