Potential Savings of Virtual Healthcare

• Replacing annual ambulatory patient encounters with virtual healthcare could save each of the USA’s 37,000 physicians an average of 5 minutes per encounter, a time saving equivalent with an economic value of  more than $7 billion.
• If each patient has 1 in-person physical examination a year, with half of all other encounters converted to eVisits, the time savings could be the equivalent of roughly 1,500 physicians, and an annual saving of $300 million.
• A combination of 1 annual physical examination with patient self-care for the remainder of the year could save time equivalent to roughly 24,000 physicians to the tune of almost $2 billion a year.
• An average reduction on ambulatory visits by 5 minutes could add almost $63 million a year in physician capacity, equivalent to 320 physicians.
• A 5 minute time saving for an organization with 800 physicians could free up the equivalent to 140 physicians’ capacity, an annual saving of just under $28 million.

 

How virtual healthcare can revolutionize the industry

• More clinical care work can be completed without the need to increase the supply of physicians.
• Virtual healthcare models can expand physician capacity by enabling of patients to care for themselves, the replacement of time consuming labor with technology, and the automation of healthcare tasks.
• A combination of these can streamline the work of physicians, decrease the demand for physicians, and allow physicians to focus their time and resources where it is most needed.
• More available time results in coverage for more patients and also better treatment for patients.

 

Examples of virtual healthcare technology 

1. Hologram House Calls

This allows for a physician to visit their patients anywhere in the world as a life-size hologram next to the patient, conducting the conversation as if it was an ordinary phone call.

It would be particularly beneficial to patients who live in remote areas and are unable to access transport services to hospitals and clinics, or to those with a serious condition which physically prevents them from visiting a physician.

2. Virtual Doctor App

The app asks users to enter their specifics (age, medical condition, family’s medical history), and then provides information about various treatments specifically tailored to them.

The user then has the option of pursuing these treatments if they wish, all with just a few taps on their smartphone or tablet.

Benefits to Healthcare professionals

• Reduces the need to visit patients’ homes if house calls are required

• Increased numbers of patients treated in a given timeframe

• Can increase patient reach by accessing patients in rural areas

• Reduced hospital admissions for non-emergency situations.

• Monitoring long term patient care while the patient recovers at home.

• New revenue streams through virtual consultations

• Easier to access patient information

Benefits to Patients

• Increased likelihood of receiving instant treatment

• Prescriptions refilled automatically

• Easier to reschedule appointments

• Receive tailored advice & updates  direct to their mobile device

 

Challenges Faced By Virtual Healthcare

• Physicians who oppose the use of virtual healthcare technology

• Doubts about reimbursement for virtual medical services through existing payment  models

• Costs & labor involved in installation & streamlining of virtual healthcare technology

• Potential security risks to patient data

 “Virtual health programs present new opportunities for patients to take a stake in their personal health needs. By better connecting patients to medical information and to physicians, and in turn connecting healthcare providers to key health data, the doctor-patient relationship is enhanced, and quality of life increases.” – Harry Wang, Director of Health & Mobile Product Research with Parks Associates

 

“Studies show that physicians were really necessary for only about 6% of clinic interactions. Why should we stick to a system that creates so much generalized unhappiness when we have an opportunity to do something that would be much more satisfying , and more productive, for everybody – physicians nurses, and patients?” – Dr. Douglas Wood, Medical Director of Centre of Innovation at Mayo Clinic

 

“Patients records are so important. If you go to your optician, they have now way of knowing that you have diabetes unless they ask the question and you tell them. This potential breakdown  in communication can cause havoc. We need an integrated system. I am not talking one database here but a distributed system.” – Prof. Vinesh Raja, Warwick Manufacturing Group

 

The people quoted here are in no way affiliated to Home Healthcare Adaptations.

 References

 Accenture.com/t20151014T000447__w__/us-en/_acnmedia/Accenture/Conversion-Assets/DotCom/Documents/Global/PDF/Dualpub_22/Accenture-Virtual-Health-The-Untapped-Opportunity-to-Get-the-Most-out-of-Healthcare.pdf

 Fastcodesign.com/3052226/hologram-house-calls-and-the-virtual-health-care-of-the-future

 Forbes.com/sites/ciocentral/2014/04/03/virtual-health-care-visits-will-revolutionize-the-industry-if-we-let-it

 Strategyand.pwc.com/reports/virtual-health

 Communities.intel.com/community/itpeernetwork/healthcare/blog/2014/08/11/5-questions-for-dr-douglas-wood-mayo-clinic?sr=stream&ru=115595

 Warwick.ac.uk/knowledge/medicine/virtualhealthcare

 

 Infographic Source: Home Healthcare Adaptations