Videoconferencing is an important component to any business industry, and healthcare is no exception. Outside of more traditional business applications for videoconferencing in healthcare, there has been significant growth in the utilization of videoconferencing to provide healthcare services from providers to patients – commonly called video telemedicine.
These services are already changing the way healthcare is provided by bringing much needed specialists to underserved hospitals, enabling visitations to patients in remote regions or giving patients a more convenient visitation venue.
New research from Frost & Sullivan's Connected Health practice (healthcareIT.frost.com), Analysis of the Video Telemedicine Market, finds that with the growing number of healthcare services provided through videoconferencing technology, opportunities for healthcare have evolved into their own distinct market space rather than just another vertical for videoconferencing providers.
This has created a unique set of challenges for both healthcare and videoconferencing participants in areas such as payment, infrastructure and licensing, as well as regulatory and privacy issues.
"While there are payment options on reimbursement for video telemedicine encounters, it still remains not very well understood by many,” comments Frost & Sullivan Senior Industry Analyst Zachary Bujnoch. "Billing still remains the most significant hurdle for new video telemedicine users."
The use of videoconferencing in healthcare delivery has created a distinct set of needs and revenue opportunities that, in turn, require a significant level of expertise. Through cross industry collaboration, participants are learning how to provide the most value for their customers, while overcoming many of the complex new hurdles that come with involvement in a new industry vertical.
"By strategic partnerships and industry collaboration, companies can play to their core strengths," says Bujnoch. "This allows video offerings to reach new levels of reliability and functionality in the healthcare environment."
The Analysis of the Video Telemedicine Market research includes:
• Market revenues for the total video telemedicine market, including telemedicine endpoints from 2010 projected through 2016;
• A breakdown of dynamic trends in the U.S. video telehealth market such as drivers and restraints, market participant ecosystems, and future predictions;
• Unit shipments and average selling prices from 2010 to 2016;
• Estimates of total market penetration rates as well as industry potential;
• Analysis of key competitor strengths and weaknesses;
• Overall telehealth discussion utilizing the Frost & Sullivan Telehealth Matrix;
• Insight into the supporting segments of telemedicine carts, software and hosted infrastructure, including services.
For further information on this research, please send an email to Anna Zanchi, Corporate Communications, to anna.zanchi[.]frost.com.
The research is part of the Frost & Sullivan Connected Health program, which helps companies better understand buyer-seller dynamics as the healthcare system transitions into the digital information age. Our research and insights help companies make informed strategic decisions regarding how best to navigate these complex markets and industry trends. We support varied needs, from syndicated research to proprietary strategic engagements, marketing solutions, and whitepapers, all leveraging the global reach of our firm to propel business forward. Additionally, all research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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