“Zero Cost” telehealth platform for physicians

Modern healthcare is rapidly changing to adopt a more patient-centered approach to care. The healthcare system has started recognizing patients as autonomous and able to decide for themselves with inputs from their physicians and family members.

The influx of technology and increasing health awareness among patients and their families, has led to a growing demand for quick, convenient and a less expensive way of accessing physicians for consultation and advice. Conversely, the decreasing reimbursement and the introduction of value-based purchasing under Affordable Care Act has led to physicians exploring opportunities to increase their revenue by offering services that are essentially not covered by Medicare or health Insurance but are of significant value to patients and their families.

Many venture-backed companies, viz., teladoc, healthspot, zipnosis, etc have been trying to work in this sweet spot of fee-for-service, but the use of such services has largely remained marginal. There has also been a growing concern among physicians that they may lose patients to telehealth referrals.

For now, evidence suggests the primary reason why patients have not adopted telehealth is that they prefer either to visit the urgent care or wait to be seen by their physician the following day, unless it is a life or limb-threatening condition in which case they prefer to visit the ER.

The growing demand for use of technology and convenience in accessing physician service is going to cause the next exodus of patients from brick-and-mortar practices not willing to take their service online.

However, having said all of the above, the cost of implementing telehealth service and a lack of robust process to account and monetize such services has become the biggest barrier for physicians to using telemedicine.