New Telehealth Report Highlights Highs and Lows
A new report from Sage Growth Partners, Telehealth: The Innovation That’s Not Yet a Habit, looks at the potential of telehealth and the fact that we haven’t quite realized that potential.
The introduction says it all, “Telehealth isn’t just telehealth. It’s telerevenue, telegrowth — telerelevance. Just not yet. The 2023 Sage Growth Partners Telehealth Survey tells two stories: What virtual care is and what it could be.”
The report goes on to layout details on a handful of key takeaways:
- Telehealth visits are still a bit of a mixed bag. More providers are using it for follow ups and behavioral health but other services lag way behind those two use cases.
- According to the report, “One factor dominates as providers decide how much telehealth to offer, the value it delivers, and whether to keep using it: patient access and satisfaction.”
- There is a bit of a missed opportunity. Patient desire has driven adoption and providers haven’t really operationalized telehealth in the way they could.
- Some providers do worry about competition from groups like Amazon and CVS. Others feel that patient loyalty will win out. But telehealth may play a role in providing a solution that is competitive for providers and helps retain loyal patients.
- Finally, the report says, “Telehealth can have more than one Why. Patients may be in control, but providers can’t afford to bury their heads in the digital sand when it comes to the technology’s uses and benefits.”
Some of the key stats in the report that back up these assertions, include:
- Follow-up visits comprise 37% of practice telehealth services and 27% of hospital services.
- Providers use telehealth the least for initial visits (11%) and triage (5%).
- 75% of providers offer telehealth with their own providers, and 25% utilize outsource providers.
- Just over 50% of practices and 75% of hospitals see these new entrants like Amazon as at least a moderate threat.
- Patient preferences drive decisions: 54% of the time for practices and 45% of the time for hospitals.
- Most providers are still either optimizing, implementing, or developing their telehealth programs (61% of practices, 69% of hospitals).
- Providers see operational efficiency as a reason to continue providing telehealth (59% of practices, 52% of hospitals).
There is certainly an opportunity to capitalize on better, more operationalized use of telehealth and virtual visits to engage and retain patients. A mobile app for healthcare can play a key role in that. Adding the option to schedule or have on demand virtual visits through a branded mobile app makes it easy for patients to access this solution and for providers to offer it.
