With more people choosing Telemedicine and virtual care services every day, according to the report published in McKinsey recently, it is estimated that 250 billion dollars of the current health care expenditures of the United States can be made virtual in theory.
This development regarding remote health services has become quite common in the context of COVID-19 public health. According to the survey reports made with patients and doctors, carried out by McKinsey firm, which is active in 44 countries in the world, provides consultancy to the management with its thousands of employees and has an annual turnover of more than 3 billion dollars; While the rate of people using this technology in the USA was 11% in 2019, this rate is expected to increase to 76% at the moment. According to the survey conducted with doctors; Compared to the pre-COVID-19 period, virtual visits have increased greatly and according to the survey results, Telemedicine services are now 57% more preferred.
According to the results obtained with the survey; The current crises are opening a new door for the modernization of health-related distribution systems by giving importance to Telemedicine services. According to analysts, the modernization of these systems is directly related to the rate of use in the process.
With this information, McKinsey analysts identify some maintenance models that can be run virtually; Models such as optional emergency virtual care, virtual office visits, virtual home care services and technological drug administration can be given as examples.
Analysts 2018 Medicare requested data rep for commercial and Medicaid businesses, scaling spend and use up to 2020 levels, and identified where these services could be replaced by defined virtual care use cases. Doing so created a potential gain of $250 billion in the virtual care business—about 20% of all Medicare, Medicaid, and commercial spending on outpatient, office, and home health care. As a disclaimer, the report's authors noted that these are preliminary, non-exhaustive numbers shared "for informational purposes in response to the urgent need for action to address the COVID-19 crisis."
WHAT IS THE EFFECT OF THIS?
Analysts noted that shifting these care spaces to virtual services provides a short-term benefit during the COVID-19 crisis, but also has the potential to improve care access, patient experience, health outcomes and health spending efficiency.
However, to realize these benefits, health care stakeholders across the administration need to be prepared.
Analysts suggested that payers define a value-supported virtual health roadmap, accelerate value-based contracting that promotes telehealth (Telemedicine), create new product designs with virtual health, and better integrate virtual health into care services.
Investors should evaluate the impact of virtual health on various services and identify the features and advantages of these services that will enable them to operate properly and create value.
When it comes to healthcare systems, it is important to prioritize comprehensive and digital access for consumers, create virtual care facilities and incentives for clinicians, and better measure outcomes and benefits to support these technologies.
"Seeds for success will be planted in the next few months during the COVID-19 crisis." "Emerging health systems in the future will be possible with staff acting decisively, supported by investments to increase capacity, working on care delivery models and to provide high quality care to consumers."
GREAT TREND
Tele-health, telemedicine and virtual care services occupy a large place on the agenda. Big telehealth vendors like Teladoc Health and AmWell are each talking about a massive increase in demand.
Other telehealth and Telemedicine providers such as Heal, Hims, Medici, XRHealth and Tava Health either create new telehealth opportunities or are subject to new investments in this regard. However, Centers for Medicare and Medicaid Services, the FDA, the FCC, and Congress are providing or easing restrictions on telehealth to expand its reach throughout the pandemic.
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