With telehealth allowing physicians to expand their coverage area, there have been questions regarding interstate medical licensing. Interstate medical licensing permits more physicians to serve individuals in underserved and rural areas, but currently, only a few states offer this. The Interstate Medical Licensure Compact helps streamline the licensing process for physicians that are interested in practising in participating states.
Interoperability: This refers to two systems ((software, networks, communication devices, computers and other types of information technology components))or more being able to interact with each other and exchange information so that predictable results can be achieved. There are three different kinds of interoperability: technical; clinical and human/operational.
Projections for the growth of the telehealth market are optimistic, and much of this optimism is predicated upon the increasing demand for remote medical care. According to a recent survey, nearly three-quarters of U.S. consumers say they would use telehealth. At present, several major companies along with a bevvy of startups are working to develop a leading presence in the field.
Bluetooth Wireless: Bluetooth refers to an industrial specification that applies to wireless area networks. Bluetooth technology offers a way of connecting and exchanging information between devices, including laptops, mobile phones, PCs, video game consoles, digital cameras and printers over a globally unlicensed and secure short-range radio frequency. The Bluetooth Special Interest Groups has developed and licensed the Bluetooth specifications.
Telehealth and Patient Engagement: With telehealth technologies, patients are taking more control of their well-being. Educational videos, health management apps for mobile devices, and online health learning and support communities empower patients to manage chronic conditions, lose weight, increase physical activity levels, and gain emotional support. Diabetes patients are benefiting from carbohydrate tracking apps and are using glucose monitoring devices to document and report their blood sugar measurements. Other patients are interacting with their providers and scheduling appointments through secure online communication portals. Additionally, they are accessing health education content via smartphones and computers to add to their self-care toolboxes. They are also using wearables and monitoring systems to gain knowledge about their sleep patterns, vital signs, and activity levels.
For developing countries, telemedicine and eHealth can be the only means of healthcare provision in remote areas. For example, the difficult financial situation in many African states and lack of trained health professionals has meant that the majority of the people in sub-Saharan Africa are badly disadvantaged in medical care, and in remote areas with low population density, direct healthcare provision is often very poor However, provision of telemedicine and eHealth from urban centres or from other countries is hampered by the lack of communications infrastructure, with no landline phone or broadband internet connection, little or no mobile connectivity, and often not even a reliable electricity supply.
The Health Resources and Services Administration (HRSA) of the U.S. Department of Health and Human Services defines telehealth as the use of electronic information and telecommunications technologies to support and promote long-distance clinical health care, patient and professional health-related education, public health and health administration. Technologies include videoconferencing, the internet, store-and-forward imaging, streaming media, and terrestrial and wireless communications.
Teladoc is the oldest and largest telemedicine company in United States. It was launched in 2002 in Dallas, Texas by Dr. Byron Brooks, a former NASA flight surgeon, and serial entrepreneur Michael Gorton. Teladoc launched nationally in 2005 at the Consumer Directed Health Care Conference, in Chicago, Illinois. By the end of 2007, it had attracted about 1 million members, including large employers who provided it to their employees as a health benefit. Jason Gorevic was named CEO in 2009 and currently holds the role and sits on the company's board of directors.
* Physicians on Silver Cross Hospital’s Medical Staff have expertise in their areas of practice to meet the needs of patients seeking their care. These physicians are independent practitioners on the Medical Staff and are not the agents or employees of Silver Cross Hospital. They treat patients based upon their independent medical judgment and they bill patients separately for their services.
JM: As the co-founder of Doctor On Demand and executive producer of The Doctors, my weekdays are pretty busy. Most of my morning is focused on producing episodes of The Doctors, and working with my team to plan upcoming episodes. After that’s a wrap, I connect with Adam to talk through anything from customer feedback to driving awareness for the company.
Telecare is the term that relates to technology that enables patients to maintain their independence and safety while remaining in their own homes. This technology includes mobile monitoring devices, medical alert systems, and telecommunications technology like computers and telephones. Continuous remote monitoring of patients enables telecare to track lifestyle changes over time as well as receiving alerts relating to real-time emergencies.
The company employs its own doctors and staffs its video consultation service 24 hours a day, seven days a week, Ferguson says. Despite the workload — which sees the company’s virtual doctors consult with four patients each hour on average — the company’s 14-day readmission rate (a standard measure of effective diagnoses) is on par with brick and mortar services, Ferguson says.
But for growth investors, Teladoc looks like a great pick. Telehealth is still in its early stages with a tremendous opportunity for growth. Teladoc Health is the top player in the space with a lead that will be difficult to overcome. The stock might experience sharp declines now and then, but there should be more ups than downs for Teladoc over the long run.
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