Telemedicine is apparently too generic a name so we have to call it “virtual health” now, or at least some consultants do. Whatever you name it, telemedicine can be very beneficial to the health system, with the potential to rationalize capacity, make scarce resources available in a wider geographic area and lower unit costs. Consultant Accenture offers a brief analysis of virtual health’s potential. (Accenture Article) As the article appropriately points out, in health care, wages account for more than half of total spending. People, especially in health care, tend to be very expensive. To the extent that technology can make expensive clinicians more efficient and can substitute for in-person work, unit costs will go down. Accenture finds that telemedicine has the capability to shift some tasks to consumers (we are all familiar with how this works in the banking and airline and other industries), increasing patient engagement and improving care coordination. Accenture goes on to give several examples of how telemedicine/virtual health could transform the delivery of medical care. One is a typical primary care visit, where Accenture suggests that as much as $7 billlion annually can be saved by having patients electronically provide information and even biometrics from connected devices prior to the visit, making the actual in-person visit more effective. And for most patients with chronic illnesses, follow-up care could occur remotely, by video or phone, again with information being collected and shared electronically. In hypertension alone, Accenture estimates that $300 million a year could be saved by using evisits for followup. Self management of many chronic illnesses could save another $2 billion annually, as new devices and software make it easier for patients to track and manage symptoms, utilizing clinicians only when necessary. The article portrays a reasonable opportunity for realistic savings, one that Accenture will obviously be happy to help providers and payers move toward!
The Use of Virtual Health
By Kevin RocheNovember 5, 2015Commentary
✅ Subscribe via Email
About this Blog
The Healthy Skeptic is a website about the health care system, and is written by Kevin Roche, who has many years of experience working in the health industry. Mr. Roche is available to assist health care companies through consulting arrangements through Roche Consulting, LLC and may be reached at [email protected].
Healthy Skeptic Podcast
This is an outstanding report on total global drug spending and trends, with projections out to 2025. It helps you understand this important area of health care, which does much...
June 1, 2021
MedPAC 2019 Report to Congress
June 18, 2019
Another example of over-priced companies trying to find some way to survive in the post-epidemic financial world. Transcarent, which does something, somehow to “access high quality, affordable care” is buying...
March 6, 2023
In an attempt to swiftly revive two floundering health care companies, a PE firm has announced the merger and recapitalization of Revive Health and SwiftMD. You know they are...
January 30, 2023
Investors have not yet learned their lesson, as Pearl Health gathers a new round of $75 million in capital for its business of supporting physicians who want to participate in...
January 30, 2023
Access ACO Care Management Chronic Disease Comparative Effectiveness Consumer Directed Health Consumers Devices Disease Management Drugs EHRs Elder Care End-of-Life Care FDA Financings Genomics Government Health Care Costs Health Care Quality Health Care Reform Health Insurance Health Insurance Exchange HIT HomeCare Hospital Hospital Readmissions Legislation M&A Malpractice Meaningful Use Medicaid Medical Care Medicare Medicare Advantage Mobile Pay For Performance Pharmaceutical Physicians Providers Regulation Repealing Reform Telehealth Telemedicine Wellness and Prevention Workplace
March 27, 2023
Why You Can’t Trust People Who Make Up Stuff About Vax Safety
A couple of studies offer a far better explanation for heart issues in athletes and…
March 25, 2023
Coronamonomania Lives Forever, Part 201
Tired of March Madness? A boringly refreshing dip into some CV-19 research summaries is recommended.
March 24, 2023
The CDC Is a Font of Methodological and Statistical Error
Several times in the last three years I and others have pointed out serious flaws…