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

Survey: Majority of Hospitals Formalizing a Mobility Strategy, But Gaps in Infrastructure Remain

September 30, 2016
Hospitals and health systems are increasingly formalizing their organization’s mobility strategy, as the number of healthcare organizations with a documented mobility strategy has nearly doubled since 2012, according to a survey by Spok, Inc.

Cigna Adds Behavioral Health Consults to its Telehealth Services

September 30, 2016
Health services organization Cigna has announced expanded telehealth services for millions of Americans enrolled in Cigna administered medical and behavioral health plans for 2017.

Hawai‘i Pacific Health Becomes Two-Time HIMSS Enterprise Davies Award Winner

September 29, 2016
For the second time, Hawai‘i Pacific Health, one of the largest healthcare providers in Hawaii, has been named a HIMSS Enterprise Davies Award recipient.

CMS Awards $347M for Hospital Improvement Innovation Networks

September 29, 2016
The Centers for Medicare & Medicaid Services (CMS) has awarded $347 million to 16 healthcare organizations—of varying forms—to serve as Hospital Improvement Innovation Networks (HIINs) and continue efforts in reducing hospital-acquired conditions and readmissions in the Medicare program.

UNC, Emory Receive $18M in Funding for HIV Health Tech Studies

September 29, 2016
A research team at the University of North Carolina (UNC) at Chapel Hill, along with colleagues at Emory University, have secured $18 million in funding over the next five years from the National Institutes of Health (NIH) to form the UNC/Emory Center for Innovative Technology, or iTech.

Multiple Myeloma Research Foundation Contributes to Genomic Data Commons

September 28, 2016
The National Cancer Institute announced Sept 28 that the Multiple Myeloma Research Foundation has become the first nonprofit organization to donate genomic and clinical data to NCI’s Genomic Data Commons.

Uber, Circulation Collaborate on Hospital Pilot Program for Patient Transportation

September 28, 2016
Boston-based startup Circulation, as Uber’s preferred healthcare platform partner, is launching a digital healthcare transportation platform as a pilot program at several East Coast acute care and children’s hospitals.

Seven Healthcare Organizations Awarded HHS Funding to Advance Common Standards

September 28, 2016
The U.S. Department of Health and Human Services’ Office of the National Coordinator for Health Information Technology (ONC) announced seven recipients of two funding opportunities with the aim of improving the flow of health information.

Public-Private Health IT Partnership in Vermont Improving Care Coordination

September 28, 2016
Six months since go-live on a patient notification technology platform in the state of Vermont, more than 400 provider sites across New England have been notified that their patients have been seen at Vermont hospitals.

Survey: Healthcare Reform, IT Burdens Play Key Role in Reduced Physician Morale

September 27, 2016
Across the U.S., physician morale is down, with leading contributors including regulatory/paperwork burden, dissatisfaction with electronic health records (EHRs), and doubts about the future of healthcare reform.

Study: Patient Identification Errors Can Pose a Serious Risk to Patient Safety

September 27, 2016
While most patient identification errors are caught before patients are harmed, some wrong-patient events are fatal and many have the potential to cause harm. Technology, such as bar coding, can help to prevent these errors, according to an ECRI Institute report.

Randy McCleese Wins CHIME Federal Public Policy Award for CIO Leadership

September 27, 2016
Randy McCleese, vice president of information services and CIO at St. Claire Regional Medical Center in Morehead, Ky., has been recognized as the winner of the College of Healthcare Information Management Executive’s (CHIME) Federal Public Policy Award for CIO Leadership.

USC’s Keck Medical Center Reports Ransomware Attack

September 26, 2016
The Los Angeles-based Keck Medical Center, part of the University of Southern California, has confirmed that two if its servers were hit with ransomware last month, leading to encrypted files that employees could not access.

Department of Justice Awards $8.8 Million in Grant Funding for PDMPs

September 26, 2016
In efforts to help states reduce prescription drug abuse and misuse, the U.S. Department of Justice announced it is providing close to $9 million in grants to 19 state states to help create, implement and enhance prescription drug monitoring programs (PDMPs).

Federal Leaders Release New Tools to Help Providers Better Leverage Health IT

September 26, 2016
President Barack Obama issued a message on Sept. 26 to kick off National Health IT Week, expressing optimism for where the industry stands today as well as hope for “reaching for the next frontier of innovation.”

Pages