Recuro’s Top 10 Telemedicine Trends for 2023
Happy Holidays! Santa came early this year with a brand new whitepaper & blog – Recuro’s Top 10 Telehealth Trends for 2023! As this year comes to a close, we wanted to take a moment to reflect on just how much has changed over the past few months and what that means for telemedicine in 2023. According to Fortune’s business insight, telehealth’s market demand is set to hit $185.6 Billion by 2026 – that’s HUGE!!! The question is – what can we expect this new landscape to look like? In our latest whitepaper, we cover what’s a fad, and what’s the future? From artificial intelligence to social determinants of health, we have compiled a consolidated list of the TOP 10 BIGGEST TRENDS IN 2023.
Whether you’re a stakeholder, patient, provider, payer or vendor – you don’t want to miss these key insights! Healthcare is continuously evolving – from the widespread adoption of new technologies like wearables and genomics to the ever-changing landscape of regulatory approvals, healthcare leaders need to be aware of the latest industry trends so as to foster innovation, evolve the member experience, and change our patients’ lives for the better. This blog is an abbreviated version of our full whitepaper, which you can download at the link here:
1. Continued Transformation of Virtual Care to Virtual-First
Analysts confirm that virtual care use has stabilized at levels 38 times higher than before the pandemic: 40% of individuals believe they will continue to use virtual care going forward and 40–60% of individuals express interest in a broader set of virtual care solutions such as virtual-first health plans. Anticipate rapid expansion of virtual care to dramatically reshape how healthcare is delivered, with trends showing that it’s no longer enough for virtual care to provide individuals with a convenient way to access care for acute conditions.
2. Telemedicine expansion to continue with greater focus on value-based care
During the pandemic, telemedicine, such as telehealth for primary, chronic and acute care management emerged as an alternative to in-person visits. Now, telemedicine is being widely viewed as complementary to in-person visits. According to Business Group on Health survey data, 55% of employers plan to expand their virtual health offerings in 2023.
3. Regulatory changes position telehealth industry ripe for greater investment
Look for technology providers to step up in 2023, creating the conditions to develop better telemedicine solutions and giving healthcare organizations a greater competitive advantage in a highly saturated market. The telehealth industry is quickly becoming a quarter-trillion-dollar sector, with some of this revenue that was once attributed to utilization at acute facilities now moving toward healthcare in the home.
A landmark survey released recently by AHIP illustrates how Americans think and feel about telehealth. According to the survey, respondents said using telehealth is more convenient than in-person appointments and makes it easier to seek out health care when needed. An overwhelming majority of respondents also said that Congress should make permanent certain provisions that allow for coverage of telehealth services before paying their full deductible.
“73% of commercial telehealth users said Congress should make permanent the provisions that allowed for covereage of telehealth services before paying their full deductible.”
4. More employers, insurers covering virtual care
Nearly three-quarters (74%) of the 135 large employers surveyed by the Business Group on Health said virtual care will have a major impact on care delivery in the future. However, 84% believe it is necessary to integrate virtual and in-person services to ensure success. People working at most large employers will be able to use telehealth, virtual mental health and virtual resiliency offerings with virtual primary care showing the most promise. About 32% of those surveyed said they will offer virtual primary care services in 2023, and 69% said they may offer such services in 2025.
5. Greater Focus on Care Coordination
Telehealth usage is currently 38 times pre-pandemic levels, and some estimates predict that 70.6 million Americans will use remote patient monitoring tools by 2025. Integrated digital solutions are likely to shed their focus on siloed, add-on telehealth or remote monitoring solutions that mirror the fragmentation and unreliable care transitions of our existing system. Thoughtful industry stakeholders will increasingly implement an integrated digital technology approach that supports every step and every transition in the care journey, creating the connective tissue that makes patient-centered, team-based care a reality.
Link: Complete Care
6. Rapidly increased payer adoption of Virtual Behavioral Health
Despite concerns about rising healthcare costs, employer-sponsored health plans are focused on improving access to mental health services and reducing burnout among employees. Payers enhanced their mental health and well-being benefits for employees during the COVID-19 pandemic and are poised to continue expanding these offerings in 2023.
Survey results from administrators of plans representing 95 million enrollees and conducted by AHIP, a health insurers’ trade association formerly known as America’s Health Insurance Plans, found all respondents provided some telehealth coverage for mental health services.
Link: Virtual Behavioral Health
7. Convenience Factor Drives Increased Consumer Preference for At-Home Lab and Genomic Testing
Stakeholders that may have the greatest say in how quickly home testing becomes common is patients themselves. They value the convenience of taking a test at home and receiving the results digitally afterwards. An estimated 26 million consumers have sent DNA samples to the four leading commercial ancestry and health databases to decode any mysteries in their genetic pool. Patients also prefer to conduct other tests at home, such as Cologuard or rapid oral HIV testing. In a study based in San Diego, California, 62% of survey participants selected home as their preferred location for a rapid HIV test.
Link: Genomic testing as part of Complete Care & Commentary
8. Higher utilization of telehealth will advance health equity
Access to quality, affordable health care is a fundamental human right, regardless of patient location, economic status or race. The American Medical Association says telehealth has the potential to become an important tool to address longstanding health inequities in the historically marginalized racial and ethnic groups that have been disproportionately affected by the COVID-19 pandemic.
9. Telehealth to increasingly serve adolescents and children
Millions of parents have been faced with skyrocketing rates of mental and behavioral health issues among adolescents and teens. Pre-COVID, 12.8 million children between 3 and 17 years old had been diagnosed with anxiety disorder, depressive disorder, and ADD or ADHD, according to the Kaiser Family Foundation. A growing problem before, COVID wreaked havoc on an already vulnerable group.
10. Older Adults Prefer Telehealth
About a third of older Americans say they plan to use telemedicine in the future, a number that has remained steady throughout the pandemic, according to a new AARP study. Thirty-two percent of adults 50 and older said they were extremely or very interested in utilizing telehealth services for themselves or a loved one, the poll of 1,149 older adults found.
Recuro Aligns with Top 10 Trends
We would like to share more on our capabilities, quality improvement and cost containment solutions that Recuro brings to payers and the member experience. Please visit www.recurohealth.com or contact us at [email protected]