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@ShahidNShah
@ShahidNShah
Examining the Limitations of the Current Telehealth Market
July 01, 2024 - Six months into 2024, the United States telehealth industry looks markedly different from the height of the COVID-19 pandemic in 2020. After reaching unprecedented heights, telehealth adoption and usage have leveled out, leaving stakeholders to contend with varying needs.According to Sanjula Jain, PhD, senior vice president of market strategy and chief research officer at Trilliant Health, telehealth’s trajectory is not necessarily surprising.Telehealth adoption and utilization can be traced alongside the ebbs and flows of the COVID-19 pandemic. Trilliant Health data shows that telehealth use peaked in the second quarter (Q2) of 2020, along with novel coronavirus cases.The data insights garnered from the company’s national all-payer claims database reveal that telehealth volumes fell by 54.7 percent from their peak in Q2 2020 to the third quarter (Q3) of 2023 when COVID-19 cases were also far lower than the pandemic’s peak.
Medigy Insights
In a competitive digital healthcare landscape, companies succeed by recalibrating strategies to meet current demand rather than relying on hopeful projections, asserts Dr. Sanjula Jain. She emphasizes that data-driven decisions are crucial, as the 2024 telehealth market differs significantly from 2020. Jain highlights the need to view telehealth as a supplementary tool rather than a replacement for in-person care. Effective integration of technology into workflows and considering both patient and physician perspectives are vital. Virtual care stakeholders must objectively analyze usage data and barriers to adoption, prioritizing incentives and reimbursement structures.
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