Telehealth uses communication platforms and technology to deliver various healthcare services to patients remotely. Reports suggest that the telehealth market was at approximately 144 billion USD in 2020 and will continue to grow, reaching 559 billion USD by 2027.
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Telehealth uses communication platforms and technology to deliver a variety of healthcare services to patients remotely. In recent years, the use of telehealth technology has increased significantly. Reports suggest that the telehealth market was at approximately 144 billion USD in 2020 and will continue to grow, reaching 559 billion USD by 2027.
Healthcare practices have started to include telehealth services to reach more clients, and specific methods operate solely from a telehealth platform. Telehealth technology allows patients who live remotely or have mobility/transport issues to access specialized healthcare services. Telehealth platforms that work with healthcare practices ensure that patients receive the same care they would in person by being HIPAA-compliant and encrypting and storing all data safely. Research conducted on the advantages of telehealth technology has recently suggested that using telehealth services for healthcare leads to reduced costs for both patients and practitioners.
Telehealth systems will vary in their cost, depending on the type of software and services the practice requires. Some telehealth platforms can be free, but the more complex features included, the more expensive the venue. These platforms will generally have high-quality video conferencing, live chats, clinical documentation, and safe storage of confidential data.
As well as the base cost of the telehealth platform, there are various additional elements designed to boost your telehealth practice that may incur charges. These include hardware, specialized equipment, tech support, and training of staff. Ultimately, the cost of a telehealth system can vary from the affordable end of around $50,000 to $300,000 if you choose to utilize high-end software with complex features.
A further cost to consider when moving your services to telehealth includes telemedicine equipment. Although most people have access to computers, mobile phones, and headphones, additional telemedicine equipment is often required.
Although the exact costs will vary depending upon the services that your practice requires, the following is a general guideline on the different necessary features you will need for a telemedicine startup and how much you can expect to pay.
Cost-benefit analysis equations will determine whether the benefits of telehealth outweigh the costs. Studies comparing the cost-benefit analysis of telehealth services with in-person services have suggested that telehealth has more significant benefits. When conducting these equations, it is essential to focus on the increase in benefits rather than reducing costs.
Further, studies have indicated that using telehealth services has saved patients significant amounts of money and time spent traveling. The benefits of telehealth include flexibility, accessibility, a more comprehensive range of patients, and improved healthcare quality.
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