Increasing Cost of Healthcare Procedures across Various Hospitals and Clinics to Drive Telemedicine Market in the US.
The deployment of telemedicine services has significantly improved the healthcare service industry in the US, majorly driven by various technological innovations in the field of medical equipments and services. Additionally, the consistent rise in the demand for high quality healthcare services coupled with increasing prevalence of chronic diseases in the country have also augmented the need for telemedicine services. In light of the growing scope of treatments through telemedicine approach, various hospitals as well as in-home healthcare services have taken a step forward towards telemedicine market in the recent years.
The companies in the telemedicine sector will need to rely on bundling and technical innovation to increase revenues in the near future. It has been anticipated that the rising technical innovations in telemedicine and disease management could result in augmenting the penetration of telemedicine in the US households. There are a number of keys challenges which could be faced by the telemedicine industry. Reimbursement and software licensing approval are the major challenges posed by this industry, which could block physicians’ participation in the telemedicine marketplace. In the upcoming years, government authorities are expected to minimize these challenges in the telemedicine market such as Medicare and Medicaid restrictions, originating telemedicine site requirements, inconsistent reimbursement and physician licensure.
In order to cater to the mouting demand of telemedicine services, the telemedicine hardware manufacturers such as AMD Telemedicine, Medtronik and others have been working in collaboration with numerous telemedicine software providers in the country such as VSEE, Vidyo, Polycom, Cardiocom and others. The market for telemedicine technology, companies offer videoconferencing equipment and store-and-forward units along with the telemedicine software installed in the telemedicine cart. The store and forward units are largely used for radiological and pathological medical applications.
“The increasing health awareness, inclining disposable incomes, improving healthcare infrastructure and introduction of new technologies will increase the penetration of telemedicine solutions in the US”, according to the Research Analyst, Ken Research.
The report titled “The US Telemedicine Market Outlook to 2018” provides detailed overview of the telemedicine market in the US and helps the readers to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will help industry consultants, healthcare experts, telemedicine vendors and suppliers and other stakeholders align their market centric strategies according to ongoing and expected trends in future.
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