Telemedicine companies are experiencing a boom in funding and profits, and the experts predict that the market will amount to $185.6 billion in the next five years. These stats suggest that patients are not the only ones who are benefitting from online medical services.
Let’s discuss how telemedicine is benefitting doctors.
Increase in Patients
Before the pandemic, patients were skeptical of the telemedicine approach and reluctant to trust online doctors. However, the number of people taking appointments with virtual doctors has increased by 46%.
Surprisingly, in a recent survey by UPMC, 40% of people said that they would skip treatment if online services were not available because they didn’t have time and money to travel and physically visit a doctor too often. Plus, with the ongoing pandemic, patients want to minimize exposure to the coronavirus, and telehealth services are the way to do that.
A hospital case study revealed that frequent no-shows were becoming a huge financial burden for healthcare providers. Since people had to travel miles, they would often end up skipping their appointment. Studies now show that no-show rates have decreased by 50% since telehealth services.
Better Tools
Most healthcare providers invest large amounts of money in telehealth, dedicating their resources to improve online medical care. With Artificial Intelligence and other technologies, they have developed efficient online diagnosis and monitoring tools that can facilitate consultation and treatment. As a result of such tools, doctors no longer have to worry about ways they can assess their patients.
Convenience and Flexibility
With the availability of virtual treatment and consultation tools, doctors can stay in touch with their patients and provide assistance and guidance from anywhere at any time. They can easily connect with their patients using mobile apps and software developed by telemedicine companies.
Moreover, most doctors now offer their remote services to a wider audience and earn more than they did from seeing a limited number of patients at their clinic.
Cost-Effective
One of the reasons why medical care in the U.S is so expensive is that a lot of money is needed for running a clinic or hospital. The cost of planning, regulating, and managing medical services at a hospital is far greater than providing online healthcare services.
On top of that, doctors can connect with their patients themselves and charge virtual consultation fees instead of relying on hospitals.
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