Data exchange enabling the business of healthcare from a distance
Telehealth is a crucial branch of HealthTech that links patients and medical professionals in different locations. It involves the remote exchange of data to offer support, and monitor long term conditions. The telehealth market is being driven by mounting pressure on the global healthcare industry to provide a high quality of care to a growing number of people. By the end of 2023, the market is expected to see a compound annual growth rate of 29.8 per cent.
Telehealth is becoming more important as consumers want to have control over their personal health. The wide use of mobile devices and at-home healthcare equipment has made this possible, linking patients with providers regardless of where they are. The conjunction of demand with the availability of connective technology is one of the major factors behind the expansion of telehealth. The US, with its prevalence of chronic illness, is currently leading the space, followed by Europe, Germany in particular.
The benefits associated with telehealth include lower costs for clinics and patients, reducing the need to travel or to take up physical space in waiting areas and consultation rooms. Healthcare professionals can provide their services well beyond the confines of the clinic, but the onus is on patients to ease their burden by taking on greater responsibility. Telehealth solutions also promote behavioural change by, for example, nudging patients to take their medication at the same time each day. Some telehealth solutions allow patients to monitor their own conditions, such as Mammoth Bioscience’s up and coming CRISPR strips. Moving forward, telehealth will come to characterise many of the interactions that patients have with healthcare professionals.
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