Market Transformation, Opportunities and Challenges of Telehealth Players

Abstract

There are three types of known “telehealth players” and only two will prevail in the future. The first type are credible known entities like Cleveland Clinic, UnitedHealth Group, CVS Health, or Amazon Care, which would be their online arm. The second type will be telehealth solutions that broker availability of different services between brands. The third type – and the one that won’t work – is the standalone solution. From a patient standpoint, more credibility is needed to use these services. Smart market players in the telehealth industry anticipate future trends and make sure business focuses on several consumer problems, not one.  Further, there are concerns about equitable access to telehealth services, particularly for video telehealth – something HCPs and telehealth companies should think about as telehealth becomes a long-term/permanent solution. Basic technological barriers like lack of broadband access, digital literacy, social isolation, disparities in technology/device ownership prevent patients from engaging with their providers via telehealth. These barriers have disproportionate impacts across different populations. Additionally, social data gaps – low technology for certain sub-populations indicates minimal data availability.