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A recent article by Health Data Management, a leading source for news and in-depth analysis on using information technology to achieve business goals and improve the quality of care, cites a report by iData Research projecting patient monitoring growth to more than $5 billion by 2020 thanks to double-digit growth over the next five years in the telehealth market.
By 2020, the firm predicts that telehealth for disease conditions management will account for more than half of the total telehealth market, fueled by the demand for customized healthcare solutions, increased chronic illness among an aging population, and strained healthcare budgets.
In addition, market growth is anticipated to be “further bolstered as awareness and implementation of standards for reimbursement and adoption of this type of care management increase,” while both public and private organizations are expected to continue to budget more funds for telehealth expenditures during that timeframe.
Despite reimbursement and other challenges, healthcare providers are actively pursuing telehealth, according to a separate recent survey of senior healthcare executives. The survey of for-profit and non-profit providers finds that nine out of 10 reported that their organizations have already begun developing or implementing a telehealth program, and the majority of respondents already offer remote patient monitoring services (64 percent).
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