Schoenberg explained how vital telehealth is to the overall healthcare industry, in a recent interview at the Xconomy’s What’s Hot in Boston’s Healthtech event.
“If I had to capture what telemedicine and telehealth is all about, this is the one image that tells the story better than anything else,” he said displaying the image of a medicine cabinet with a friendly, miniature physician inside. “Having a personal physician in your medicine cabinet represents the capability to extend care to where it’s most convenient for us.”
While the promise of telehealth is real, the industry has been plagued by low utilization. Yet, paradoxically it is also one where growth seems to be taken for granted.
Telehealth is set to be a $34 billion market globally by the end of 2020, with 40 percent of that revenue coming from North America, according to analysts from Mordor Intelligence.
Others point to the economic imperative that providers feel to rein in costs and improve care.
“Progressive healthcare organizations recognize the need to bring care closer to the patient to improve quality and reduce cost. Telehealth is a great way to do this and expand access,” said Kate McCarthy, senior healthcare analyst at Forrester Research, who was previously with Boston’s Partners HealthCare. “I anticipate that virtual visits will become the most prevalent place of service over the next ten years. Building a foundation today secures a place in the future of medicine tomorrow.”
