Telemedicine is changing the structure of the US market

Modern medicine has seen in its lifetime a lot of technical advances. Heart operations, which were previously performed on the open heart all day long and required long-term hospitalization, are now performed as arthroscopic outpatient procedures for several hours. Tattoos can report vital signs, and contact lenses can monitor glucose levels. In third world countries, one can get AIDS test results in just a few minutes for a few dollars.

At the same time, in a world-class hospital in Manhattan, in order to get a doctor with a sprain, you still have to fill a huge number of forms, wait for hours and pay space amounts that your insurance is unlikely to cover.

With the same stretch, you can go to a CVS clinic or similar, who actively use telemedicine, pay $ 80- $ 100 and get out with a bandaged leg and prescription in less than an hour. It is clear that improving service levels is a challenge for a business model, not for technology.

Looking for better alternatives

Fast-service clinics are becoming more accessible and ubiquitous (as they are being opened in shopping centers like Walmart, Walgreens and CVS). They offer the level of comfort, predictability and price transparency that is not available in conventional hospitals. Even Whole Foods got involved, and there are reasons for it.
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The full cost of visiting the first-aid station is unknown. Based on the available data, the average cost of an SPT visit is $ 2,000. Even when visiting a network hospital, a patient may be required to pay unforeseen expenses.

Many commercial networks (including Walgreens and CVS) have eliminated the surprise effect for customers by listing their prices on the Internet. And, unlike a hospital where hundreds and even thousands of dollars can be taken for a single analysis, most of the prices at Walmart do not exceed $ 40.

Fortune 500 companies and other large employers are also opening local clinics, trying to reduce medical care costs and offer employees additional benefits. A little bit more, and treatment by a therapist or hospital will be the exception rather than the rule.

Possibility or danger?

Much has been written about the danger of such a transition for hospitals and doctors. The American Academy of Pediatrics even expressed its extremely negative opinion regarding such clinics. However, this view is both naive and short-sighted. The traditional medical community does not need to fight this change. Moreover, they should accept this tendency as a way of surviving in an evolving sphere, in which they will profit based on their results (rather than actions), and in which they will have to provide services using network technologies.

Battle for better service

Hospitals began to realize that they could enter the game only by offering a similar level of comfort and transparency. Novant Health decided to capitalize on growth opportunities by partnering with Target and opening fast-service clinics at Target centers, where patients are trained by Target nurses under the supervision of Novant doctors.

Temple University Health System is another organization that adheres to this model, which opened the ReadyCare clinics in Philadelphia. One by one, some hospitals are investing in the ecosystem, trying to follow as closely as possible the development trends and customer preferences (for example, UnitedHealth Group acquired Audax).

Slowly but surely

Despite all the advances in the treatment and development of medical devices, providers of such services have never been at the forefront of progress, but the situation is gradually changing. In the coming years, as telemedicine begins to fulfill its promises regarding continuous service, fast-service clinics will become the driving force and the most important partner of virtual healthcare providers.

Telemedicine companies such as WorldClinic, which provide uninterrupted service through virtual systems and rarely see patients live, will push the network of quick service clinics to work in laboratories and issue medicines to patients. The network also provides conveniently located departments that regularly conduct examinations of patients who have been assigned additional procedures or monitoring of chronic conditions. Thanks to such a network, continuous virtual provision of medical services can become the norm of how healthcare is provided and implemented.

Convenience, lower cost and transparency are the main advantages enjoyed by all quick service clinics. How are they different? How to choose if you are an investor or a client?

Here are a few key factors to consider:

A wide range of services . Clinics should offer more than just a diagnosis and treatment. Pay attention to those that include services such as monitoring for chronic conditions and laboratory tests. With such new proposals as helping to quit smoking in CVS and monitoring patients with chronic diabetes and hypertension at Walgreens, it is easy to present physical therapy and weight loss groups as clinic services.

Sufficient level of service . Clinic staff should receive appropriate training and certification, and be aware of the latest treatment protocols. The clinic should also provide communication with doctors and specialists (for example, through a website or video conferencing), providing support for a wider range of problems and more complex cases.

Electronic integration with healthcare networks and electronic medical archives (EHR) systems . EHR systems are becoming the foundation for patient continuity. All entries are available online and include information from service providers, whose number is growing every day. To date, CVS already provides access to data from over 40 health systems.

Internet devices . Clinics should make the most of modern technologies, from diagnostic devices that provide crop and laboratory results, to wearable devices integrated into the AppleHealth system. In addition to simple convenience and cost-effectiveness, these devices and systems allow clinics to collect standardized information about a patient’s health and to monitor chronic conditions.

There are more and more patients, and fewer and fewer doctors are able to help them. The Association of American Medical Colleges (AAMC) predicts that by 2025, the US will miss 130,600 doctors. Emerging quick service clinics are confidently fighting this trend. Companies providing healthcare services have the opportunity to reduce costs and increase the level of services, following the trend of fast-service clinics through direct investment or partnerships.

It remains not long before the moment when doctors will work completely in a virtual mode, relying on video technology, medical devices connected to the Internet, electronic medical archives and a network of clinics, ensuring effective treatment of patients in the most efficient way and guaranteeing the best impressions of patients.