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Telemedicine: Its Affordability Over Conventional Medicine

by guestpost
6 minutes read

Telemedicine has been practiced since the 1960s. Its purpose is to guarantee that patients in isolated and rural locations receive expert care. In order to diagnose and treat patients in far-off regions, telemedicine aims to develop communications that function.

Telemedicine is currently getting more and more well-liked as a cost-saving method for healthcare organizations due to rising healthcare expenditures. Telemedicine services have begun to be used in numerous nations.

According to a study by Suzuki et al. (2016), telemedicine services are growing across Asia. It mentions the quick development of telemedicine due to internet usage and a lack of physicians in Thailand and Indonesia.

Numerous studies, like those published in the American Journal of Emergency Medicine, demonstrate the affordability of telemedicine. Red Quill Consulting Inc.’s research indicates that whereas in-person visits can cost up to $176 each visit, virtual visits typically cost between $40 and $50.

In addition to cutting expenses, telemedicine practices aim to maintain a high standard of patient care. This blog’s objective is to describe how employing telemedicine can lower expenses for patients and healthcare systems.

How telemedicine reduces healthcare costs?

It has been demonstrated that telemedicine can lower costs by reducing readmissions and other unfavorable occurrences. Tele-analytical services like telepathology and teleradiology enable resource pooling, lower costs, and higher levels of patient care.

Smaller facilities with modest volumes can pool resources via telemedicine to provide low-cost, round-the-clock care. The cost of radiology services is high. Telemedicine, however, might result in financial savings for the healthcare system. Medical pictures including X-rays, MRIs, and CT scans can be inexpensively and securely sent to distant locations.

Patients who were previously watched impatiently can now be observed ambulatorily thanks to telemonitoring technologies. Costs for healthcare providers have dramatically decreased as a result of this. Frequently checking vital indicators (such as weight, heart rate, and blood pressure) is possible with the aid of Bluetooth or Wi-Fi-enabled medical equipment. This lowers the risk of major illnesses like heart attack and kidney failure and enables doctors to make the better diagnosis at minimal expense. It also makes preventative health measures possible. The importance of telemedicine has grown even more since the advent of virtual reality.

Patients and doctors can connect via tele-visits from anywhere, which reduces the expense of travel for both parties. In other words, you might not need to make transportation arrangements to go to clinics, pharmacies, or laboratories to see a doctor. Telemedicine makes life simpler by removing unnecessary healthcare visits and saving money in the process.

How telemedicine is affordable?

The price of traditional medicine keeps rising. Utilizing telemedicine is frequently economical from a financial standpoint. Using telemedicine, the University of Massachusetts found that ICU stays were 30% shorter. There are now fewer doctors, more critical care beds, shorter hospital stays, better long-term outcomes, and much lower healthcare expenses as a result of this. In some healthcare settings, using telemedicine may be more inexpensive and cost-effective than in others.

Cardiology, nutrition, the treatment of eating disorders, mental health services, and ophthalmology are the fields with the lowest costs. Asthma, dermatology, and respiratory cancer are more practical fields; hence they are less advantageous. It is not always challenging to deploy such a solution in an affordable manner. Using video conferencing software in conjunction with already-existing services, including patient portals, is proving to be very efficient and cost-effective for clinics of all sizes. Additionally, it performs a fantastic job of fulfilling all HIPAA criteria.

Final thoughts

By allowing quick and efficient access to a doctor from the convenience of one’s home, telemedicine helps decrease the need for emergency medical treatment. The service is preferred by both doctors and patients due to the economics of telemedicine. The amount of paperwork, patient management concerns, and total healthcare expenses are reduced immediately and over time. According to a Japanese study, emergency radiation consultation for malignant spinal cord compression services is the most cost-effective telemedicine service.

Telemedicine can speed up the decision-making process and lower the cost of patient transfers. According to a survey, telemedicine can also reduce expenses for medical services. For example, teledermatology consultations can save $17,160 per case annually.

Overall, it has been demonstrated that telemedicine holds the promise of having a good influence on lowering healthcare costs, enhancing well-being, and expanding services to remote areas without relocating resources. Therefore, due to its accessibility and affordability, telemedicine should be scrutinized internationally.

Reference

  • Suzuki T, Hotta J, Kuwabara T, et al. Possibility of introducing telemedicine services in Asian and African countries. Health Policy Technol. 2020;9(1):13–22. doi:10.1016/j.hlpt.2020.01.006
  • Aisha Salsabilla, Alifia B Azzahra, Woro Supadmi. Cost-Effectiveness of Telemedicine in Asia: A Scoping Review. Journal of Multidisciplinary Healthcare: 29 December 2021

BIO:

DrCare247 is a cloud-based, HIPAA-compliant, white-label telemedicine software platform for medical practices and agencies. We make online consultations simple for doctors and patients. We offer a complete healthcare ecosystem that seamlessly integrates practice management, EHR/EMR, lab & radiology, pharmacy, and patient/doctor portals.

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