Thursday, August 28, 2014

Report: Video consultation revenues projected to rise to $13.7B by 2018

A new report from Parks Associates takes a bullish view of the telemedicine sector. It predicts that revenues generated from video consultations will shoot up from less than $100 million in 2013 to $13.7 billion in four years’ time. Virtual care doctor-patient video consultation revenues will grow from $900,000 to $26 million in the same time frame, according to the report.

It makes sense given the fact that employers are interested in cutting down on unnecessary healthcare costs and fewer physicians will be able to serve a growing number of people entering the healthcare system. Telemedicine companies have been keen to emphasize the convenience factor and more legislation at the state and federal level to expand the availability of telemedicine from making it easier to practice across state lines to extending reimbursement to more areas. Earlier this month, Towers Perrin estimated that employers would save up to $6 billion by using telemedicine.

From the article "Report: Video consultation revenues projected to rise to $13.7B by 2018" by Stephanie Baum.

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