Telehealth Market Analysis | United States | 2017-2023 | MedCore
- Year: 2017
- Scope: 2013-2023
- Region: United States
- Pages: 64
- Published Date: 9/1/2016
- Type: MedCore
The market for telehealth includes both remote monitoring of people with chronic conditions, and individuals with cardiac implantable electronic devices (CIEDs). The telehealth monitoring market has grown tremendously in recent years fueled by increasing awareness of the benefits of remote monitoring and home healthcare. Currently, the U.S. boasts the most mature telehealth in the world as well as a diverse competitive landscape, attributable to a trend towards reimbursement reform and successes of large-scale deployment initiatives. Moreover, the Veterans Health Administration (VHA), Americas largest purveyor of home telehealth, continues to rapidly expand the size of its remote patient monitoring (RPM) programs and funding. In 2011, for example, the VHA awarded $1.38 billion in telehealth contracts to six vendors, to be paid over a five year period, albeit with an optional renewal for each consequent year after the first. As such, the overall market has expanded significantly on the back of this massive investment into a variety of telehealth platforms. Furthermore, the number of participants in the VHAs telehealth program has expanded significantly each year, with home telehealth growing from about 43,000 participants in 2010 to 156,000 as of 2014.
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