Is the healthcare industry selling telemedicine short?

During the COVID-19 pandemic, telemedicine experienced a period of significant growth and adaptation, transforming the healthcare landscape. Sage Growth Partners conducted a survey to explore the state of telemedicine and its future in healthcare. Here are some key findings from the interview with Dan D'Orazio, CEO of Sage Growth Partners:

Telemedicine Utilization: The pandemic led to a rapid expansion of telehealth services, covering routine visits, orthopedics, follow-up care, mental health, and other health services. However, as the initial urgency waned, telehealth utilization stabilized at around 10-20%.

Challenges and Opportunities: Despite the growth, there remain challenges in utilizing telehealth effectively. For example, initial telehealth visits fell to just 11%, raising concerns about access to care. Hospitals have seen growth in chronic care management via telehealth.

Expanding Access: The interview suggests that telehealth should not be viewed as a fixed solution but rather an opportunity for expansion. It highlights the need to address access crises in emergency departments and explore the potential of telehealth triage.

Changing Workflows: Healthcare providers are in the early stages of integrating telehealth into their workflows. While some progress has been made, there's room for further refinement in scheduling and other fundamental aspects of telehealth adoption.

Patient Satisfaction and Access: Telehealth's value is recognized in terms of patient satisfaction and access. However, there is a disconnect between its potential for referrals and its current usage in this area.

Big Tech Competition: Traditional healthcare providers don't perceive Big Tech entrants like Amazon Clinic as major threats due to their perceived advantage in patient loyalty. However, the interview highlights the need for providers to remain vigilant and not rest on their laurels.

Future of Telemedicine: The interview concludes by emphasizing the potential for telemedicine to drive efficiency, increase capacity, and improve the experience for both providers and patients. It calls for a shift in thinking about telehealth as a long-term solution rather than a temporary response to a crisis.

In summary, telemedicine experienced rapid growth during the COVID-19 pandemic, but its future success depends on addressing challenges, expanding access, and integrating it more seamlessly into healthcare workflows. The hope is that telemedicine will become a permanent and valuable part of the healthcare landscape, benefiting both providers and patients.