How Stakeholders are Preparing for a New Era in Digital Healthcare

Digital healthcare leaders who spoke with mHealthIntelligence at last month’s annual ATA Nexus conference agreed that the pandemic-era virtual care landscape is rapidly giving way to a new era — one that will require digital health companies to stay alert and agile.The rise and subsequent decline in telehealth has been well-documented. According to data from Trilliant Health, telehealth visit volume dropped from 76.6 million visits in the second quarter (Q2) of 2020 to 41.5 million visits in the fourth quarter (Q4) of 2022, representing a 45.8 percent decline. Alongside this drop, digital healthcare funding has taken a nosedive from a record-high of $29.2 billion in 2021 to $2.7 billion in the first quarter (Q1) of 2024.

Medigy Insights

Digital health leaders shared a positive outlook with mHealthIntelligence, stating that industry failures have provided valuable lessons for them. The digital health slowdown has also prompted digital health players to develop new strategies to navigate this new phase.In the last week of April, two behemoths announced plans to leave the virtual care market, startling stakeholders industrywide.First, UnitedHealth Group subsidiary Optum closed its virtual care business just three years after its inception. The service provided UnitedHealthcare (UHC) and Surest plan members with virtual access to physicians and nurse practitioners. Then, a few days later, Walmart said it was exiting healthcare altogether, shutting down its 51 health centers and associated virtual care service.

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