3 Tips for funding your telehealth strategy

There is no doubt that telehealth has a tremendous role in the future of healthcare organizations. But as organizations include it in their strategy, what are the differences between knowing the buzzwords and actually implementing the tools needed to build a winning telehealth strategy? Once organizations identify what they need, how does the technology work together? How do they ensure each component syncs with patient data, existing infrastructure, software, and user devices? Finally, how do you pay for a system that has so many complex components?

"As healthcare organizations build out their telehealth strategies, it is important to work with trusted vendors who are familiar with the organization, its staff, their technology skill levels, and the vision of telehealth in their organization," says Jessica Kerner, Assistant Vice President at First American Healthcare Finance, "Implementing a telehealth strategy is not simply buying one camera or server, it is a way to grow their organization, deliver care more easily, and provide integrated solutions to patients."

For many healthcare organizations, telehealth is overwhelming and it is hard to know where to start. What are the "must have" pieces of technology, where does the budget come from, and will telehealth equipment increase or reduce costs over time?

Here are three tips that can go a long way toward building and funding a telehealth strategy:

1. Start with a pilot – Before you implement telehealth throughout your entire organization, start with a pilot, and expand when ready. It is critical to have support from senior leadership, and the team can plan and scale when it is the right time for the organization.
2. Build in flexibility – Since all organizations are different, there is no one-size fits all telehealth strategy. Organizations should be comfortable with a little uncertainty, and they should build some flexibility into the budget to cover unforeseen costs.
3. Streamline equipment orders – Working with too many vendors can not only be confusing, but it also can be costly. Many organizations are hiring Directors of Telehealth, or at minimum having a dedicated project manager oversee all of the projects and equipment purchases.

In the report "Telehealth: Helping Hospitals Deliver Cost-Effective Care," the American Hospital Association says "a growing body of evidence shows that telehealth can not only expand access to services but also create cost savings. For many patients, telehealth increases the ability to access timely care while reducing the potential inconvenience of travelling long distances or being transferred to another healthcare facility."

"In 10 years, the word 'telehealth' won't be in our vocabulary.... It will just be 'health'," says Jim Tempio of First American Healthcare Finance. Jim has worked closely with many healthcare CFOs to develop their telehealth strategy and advises, "Healthcare organizations are excited to deliver exceptional care to their patients in the most convenient way possible."

The views, opinions and positions expressed within these guest posts are those of the author alone and do not represent those of Becker's Hospital Review/Becker's Healthcare. The accuracy, completeness and validity of any statements made within this article are not guaranteed. We accept no liability for any errors, omissions or representations. The copyright of this content belongs to the author and any liability with regards to infringement of intellectual property rights remains with them.​

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