{"id":26945,"date":"2021-04-06T11:52:54","date_gmt":"2021-04-06T11:52:54","guid":{"rendered":"https:\/\/www.syscreations.ca\/blog\/?p=26945"},"modified":"2021-07-13T12:03:41","modified_gmt":"2021-07-13T12:03:41","slug":"future-of-telehealth","status":"publish","type":"post","link":"https:\/\/www.syscreations.ca\/blog\/future-of-telehealth\/","title":{"rendered":"What is the Future of the Telehealth Market?"},"content":{"rendered":"\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">It was only COVID-19 that caused the acceleration in the use of telehealth platforms.&nbsp;<\/span><\/p>\n\n\n\n<p>And it was only telehealth platforms that expanded the care delivery when the pandemic restricted patients\u2019 ability to seek rapid and quality care.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">What we are more interested in here is the future of the telehealth market.<\/span>&nbsp;<\/p>\n\n\n\n<p>But to know its future, we first need to know where it is standing now.\u00a0<\/p>\n\n\n\n<p><strong>Our other very interesting healthcare resources:<\/strong><\/p>\n\n\n\n<ul><li><strong><a href=\"https:\/\/www.syscreations.ca\/blog\/healthcare-pia\/\" target=\"_blank\" rel=\"noreferrer noopener\">Why PIA in healthcare important?<\/a><\/strong><\/li><li><strong><a href=\"https:\/\/www.syscreations.ca\/blog\/healthcare-digital-solutions\/\">How to build&nbsp;<\/a><a href=\"https:\/\/www.syscreations.ca\/blog\/healthcare-digital-solutions\/\" target=\"_blank\" rel=\"noreferrer noopener\">a<\/a><a href=\"https:\/\/www.syscreations.ca\/blog\/healthcare-digital-solutions\/\">&nbsp;healthcare digital solution?<\/a><\/strong><\/li><li><strong><a href=\"https:\/\/www.syscreations.ca\/blog\/top-apps-for-nurses\/\" target=\"_blank\" rel=\"noreferrer noopener\">Top 10 mobile apps for nurses<\/a><\/strong><\/li><li><strong><a href=\"https:\/\/www.syscreations.ca\/blog\/virtual-vet-care-platform-like-vetsie\/\" target=\"_blank\" rel=\"noreferrer noopener\">Cost to build virtual vet care platform<\/a><\/strong><\/li><\/ul>\n\n\n\n<h2><strong>Telehealth Market: Now&nbsp;<\/strong><\/h2>\n\n\n\n<ul><li><strong><span style=\"color:#dd0055\" class=\"has-inline-color\"><u>Consumers\u2019 interest:<\/u>&nbsp;<\/span><\/strong><\/li><\/ul>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">According to the McKinsey report, 11 percent of US consumers were using telehealth in 2019 which increased to 46% in 2020.&nbsp;<\/span><\/p>\n\n\n\n<p>And during the pandemic, more than 70% of in-person medical visits have been cancelled with the immediate goal of avoiding exposure in clinics or hospitals.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">The report also states that 76% of survey respondents said that they are most likely to use the telehealth platforms again in future.&nbsp;<\/span><\/p>\n\n\n\n<p>Whereas, 74% of the respondents reported good user experience and high satisfaction.&nbsp;<\/p>\n\n\n\n<ul><li><strong><u><span style=\"color:#dd0055\" class=\"has-inline-color\"><u>Providers\u2019 interest:<\/u><\/span><\/u>&nbsp;<\/strong><\/li><\/ul>\n\n\n\n<p>Be it large hospitals or small clinics, healthcare providers are switching to a virtual care delivery model as more patients prefer it over in-person care delivery.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">Healthcare providers are now carrying out 50-175 times more televisits than pre-COVID time.&nbsp;<\/span><\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">57% of care providers believe telehealth is more effective and 64% of them are using it comfortably.&nbsp;<\/span><\/p>\n\n\n\n<ul><li><strong><span style=\"color:#dd0055\" class=\"has-inline-color\"><u>Governments\u2019 interest:<\/u><\/span>&nbsp;<\/strong><\/li><\/ul>\n\n\n\n<p>The government has already nodded to the fact that telehealth is the most useful healthcare technology that ensures timely access to care even during a healthcare disaster.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">In 3 major provinces of Canada (Alberta, Ontario &amp; B.C.), the government had brought televisits under its provincial health cards.&nbsp;<\/span><\/p>\n\n\n\n<p>With it, the patients can now have a free virtual consultation with the physicians.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">During the first wave of the coronavirus in Canada, the prime minister announced to invest more than $240 million in virtual care services to support Canadians&#8217; health and wellbeing.&nbsp;<\/span><\/p>\n\n\n\n<ul><li><strong><span style=\"color:#dd0055\" class=\"has-inline-color\"><u>Startups\u2019 interest:<\/u>&nbsp;<\/span><\/strong><\/li><\/ul>\n\n\n\n<p>Both Canada and the USA are the hottest telehealth markets.&nbsp;<\/p>\n\n\n\n<p>Due to affordable technologies, a large customer base and support from the government, many small-scale telehealth startups are thriving and many have even achieved unicorn status.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">Ro Health and Hims &amp; Hers are the best examples here that have raised a significant amount of funding and become unicorn telehealth startups.&nbsp;<\/span><\/p>\n\n\n\n<p>Many new startups who have launched their service during the pandemic are experiencing rapid growth and building a large customer base very quickly.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">The telehealth opportunity is so huge and game-changing that even online pharmacies are starting telehealth programs from their apps.&nbsp;<\/span><\/p>\n\n\n\n<p>PocketPills &#8211; which is Canada\u2019s one of the largest online pharmacies &#8211; have followed the same trend.&nbsp;<\/p>\n\n\n\n<center><blockquote class=\"twitter-tweet\"><p lang=\"en\" dir=\"ltr\">Download the PocketPills app and have the ease of speaking to a doctor to renew your prescription. Our Care Team is available from 9AM to 9PM EST at 1.833.HELLORX if you need more information. <a href=\"https:\/\/t.co\/JD8Wn5lh1e\">pic.twitter.com\/JD8Wn5lh1e<\/a>\u2014 PocketPills (@pocketpills) <a href=\"https:\/\/twitter.com\/pocketpills\/status\/1366901175904264193?ref_src=twsrc%5Etfw\">March 3, 2021<\/a><\/p><\/blockquote> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/center>\n\n\n\n<h1><strong>Telehealth Market: Future<\/strong><\/h1>\n\n\n\n<ul><li><strong><span style=\"color:#dd0055\" class=\"has-inline-color\"><u>Compliance will still remain the major challenge<\/u><\/span><\/strong>&nbsp;<\/li><\/ul>\n\n\n\n<p>We on average talk to 5 healthcare providers and 4 telehealth startups in a week.&nbsp;<\/p>\n\n\n\n<p>The major challenge they all are facing is compliance.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">A lot of technical, business and operational requirements of the data privacy laws require them to invest in a unique skill set and dedicated time &amp; efforts.&nbsp;<\/span><\/p>\n\n\n\n<p>The only goal of these data privacy laws is to protect the privacy of patients\u2019 data.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">So, with ever-growing threats around healthcare data, it is less likely that regulators will lower the bar.&nbsp;<\/span><\/p>\n\n\n\n<p>In fact, there are higher possibilities that regulators will impose new regulations and maybe new data privacy laws.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">So, with this, the compliance challenge will become more severe but in return, it will provide military-rank security to healthcare data!&nbsp;<\/span><\/p>\n\n\n\n<ul><li><span style=\"color:#dd0055\" class=\"has-inline-color\"><strong><u>Telehealth and online pharmacy will go hand in hand<\/u><\/strong>&nbsp;<\/span><\/li><\/ul>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">After almost every televisit, the patients need to buy the medicine as prescribed by the physician.<\/span><\/p>\n\n\n\n<p>Patients have a choice. They can either buy it from other online pharmacy apps or from the retail pharmacy store.&nbsp;<\/p>\n\n\n\n<p>Either way, patients have to face inconvenience.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">Thus, many telehealth startups integrate online pharmacy app modules in the telehealth app itself.&nbsp;<\/span><\/p>\n\n\n\n<p>This way, they ensure that patients can get the ultimate user experience and get everything from medical consultation to prescriptions and medicines from the same platform.&nbsp;<\/p>\n\n\n\n<p>However, not all telehealth apps are currently following the same strategy.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">But in future when the profit margin of telehealth will decrease, the telehealth app startups will leave with no choice than finding a new revenue stream.<\/span>&nbsp;<\/p>\n\n\n\n<p>And integrating online pharmacy with telehealth is the most profitable revenue stream!&nbsp;<\/p>\n\n\n\n<ul><li><strong><span style=\"color:#dd0055\" class=\"has-inline-color\"><u>Telehealth + healthcare eCommerce will be the recipe for unicorn<\/u><\/span><\/strong>&nbsp;<\/li><\/ul>\n\n\n\n<p>Healthcare eCommerce is a billion-dollar market.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">And if we integrate it with telehealth, telehealth startups can capitalize on this billion-dollar market.&nbsp;<\/span><\/p>\n\n\n\n<p>With this, telehealth startups can sell over-the-counter drugs, oral care products, hair care products, skin care products, supplements, perfumes, baby care products etc from the telehealth app itself.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">USA-based unicorn telehealth startups Ro Health and Hims &amp; Hers Health have been leveraging the same business strategies.<\/span><\/p>\n\n\n\n<p>In the future, when telehealth will become a dominant care delivery model, telehealth startups will start integrating healthcare eCommerce to capitalize on the billion-dollar market of healthcare eCommerce.&nbsp;<\/p>\n\n\n\n<ul><li><strong><span style=\"color:#dd0055\" class=\"has-inline-color\"><u>Remote patient monitoring will rule the telehealth market<\/u><\/span><\/strong><\/li><\/ul>\n\n\n\n<p>Currently, the major limitation of the telehealth platform is the lack of pure contactless care delivery.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">Because, physicians or other healthcare staff are still required to be in close contact with patients in order to measure their biometric data such as oxygen level, sugar level, heart rate etc.&nbsp;<\/span><\/p>\n\n\n\n<p>This increases the chance of outbreak &#8211; especially when the hospitals and long-term care homes are running the telehealth program.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">So, if we integrate remote patient monitoring with telehealth apps, physicians can get all the biometric data of patients in real-time and remotely on their app itself.&nbsp;<\/span><\/p>\n\n\n\n<p>Such technology is very helpful when you are providing virtual care to seniors who are unable to measure their biometric data by themselves.&nbsp;<\/p>\n\n\n\n<h2><strong>Get a future-proof telemedicine solution with free consultation and live app demo&nbsp;<\/strong><\/h2>\n\n\n\n<p>The future of the telehealth market is bright for you &#8211; if you do the investment now &#8211; in the right way!&nbsp;<\/p>\n\n\n\n<p>We are Ontario-based telehealth tech and compliance experts.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">We develop custom, clone and white-label telehealth web and mobile solutions.&nbsp;<\/span><\/p>\n\n\n\n<p>With our in-house compliance experts, we always make sure to develop compliant telehealth solutions only.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">Being proactive in the Canadian healthcare industry for 7 years, we have earned ultimate expertise and recognition.&nbsp;<\/span><\/p>\n\n\n\n<p>We don\u2019t just deliver you the telehealth solution, but our expertise and peace of mind.&nbsp;<\/p>\n\n\n\n<p>You can check out our <a href=\"https:\/\/www.syscreations.ca\/telemedicine-startup-ontario\" target=\"_blank\" rel=\"noreferrer noopener\"><span style=\"color:#7b68ee\" class=\"has-inline-color\"><u><strong>case study on telemedicine app development<\/strong><\/u><\/span><\/a> to be aware of our Canadian standard of work.&nbsp;<\/p>\n\n\n\n<p><span style=\"color:#7b68ee\" class=\"has-inline-color\">We would also like to share the screenshots of our most recent telehealth project.\u00a0<\/span><\/p>\n\n\n\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" src=\"https:\/\/www.syscreations.ca\/blog\/wp-content\/uploads\/2020\/10\/GIF-2.gif\" alt=\"\" class=\"wp-image-27024\" width=\"233\" height=\"505\"\/><\/figure>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It was only COVID-19 that caused the acceleration in the use of telehealth platforms.&nbsp; And it was only telehealth platforms that expanded the care delivery when the pandemic restricted patients\u2019 ability to seek rapid and quality care.&nbsp; What we are more interested in here is the future of the telehealth market.&nbsp; But to know its [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":26950,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[10],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v16.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is the Future of the Telehealth Market? | Telehealth in 2023<\/title>\n<meta name=\"description\" content=\"Explore the future of the telehealth market including top factors contributing to the growth of virtual care solutions in Canada.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.syscreations.ca\/blog\/future-of-telehealth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Telehealth in 2023\" \/>\n<meta property=\"og:description\" content=\"What it will look like?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.syscreations.ca\/blog\/future-of-telehealth\/\" \/>\n<meta property=\"og:site_name\" content=\"SyS Creations - IT Management, Compliance &amp; 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