Know How Telehealth has Impacted Healthcare Scenario Globally

Electronic communication has influentially penetrated in healthcare and has a great impact on patient care. It has incredibly changed the way physicians and patients interact, especially telemedicine. In a recent report by Winter Green Research, Inc., a market research firm based in Lexington, Mass. it is predicted that the market for telemedicine software and devices will increase 736 million in 2011 to $2.5 billion in 2018 and the numbers seem to be progressing as expected.

telehealth

This care transition has made medicine available to regions which are void of adequate healthcare infrastructure. Telemedicine employs a multitude of modern technologies to transmit information via audio, video, text, or images that ultimately leads to better healthcare. Patients can connect with healthcare specialists half way round the globe, email MRI scans or arrange a video conference for diagnosis. All what’s needed is – an internet connection. Interestingly, it is now even possible to distantly monitor the glucose levels or blood pressure of a clinic’s patients through a computer screen. Telehealth has raised the horizons for regions without adequate healthcare infrastructure. It helps under-staffed clinics and undertrained practitioners to deliver effective medical care through expert assistance.

The benefits are not limited. They extend from patients to care givers, financers, and various other aspects related to treatment procedures. There is a drastic cost reduction. Telemedicine offers cost savings as travel expenses (that usually amount on the higher side) are immensely reduced. Additionally, it provides a second line of training to junior physicians almost free of cost.

telehealth-cycle

The global telemedicine market is expanding at an exponential rate. Geographic analysis of telehealth oriented developments show major influences in some areas of the world. A number of factors spur the growth of telemedicine and other related e-health services to ensure better quality Patient Engagement services across the globe. Masses are becoming more aware about healthcare conditions and demand high-quality care, medication and attention. Telehealth relies on the information available on healthcare networks provided by EMR infrastructures that are incorporated in global health measures. This healthcare information exchange is in its young years on the international boundaries and is sure to capture a larger market in the coming years.

LifeCycle Health has taken the initiative of telehealth seriously and encourages extensive participation making quality healthcare approachable. We have accepted this concept of care transition and promote value care and bundled payment models to quench this desire for lower healthcare costs. Visit : http://www.lifecyclehealth.com/get-started/

Read more at :

  1. Healthcare Providers’ Top 3 New Year’s Resolutions 2017
  2. Value Based Care is the New Health Care

Value Based Care is the New Health Care

Care delivery in the United States is the one of the costliest affairs for the residents of the nation. To put things in perspective, U.S. healthcare costs nearly $2 trillion every year, out of which more than 31% is never presented to the recipients (counts for administration costs). This, undoubtedly calls for an immediate and drastic care transition and Value Based Care (VBC) is a terminology that has been long awaited. The shift from volume-care to value-care is no easier than accepting smart phones/tablets/laptops in replacement of the bulky PCs. This shift from the fee-for-service payment models to value based care compel health systems to blend operational, financial, clinical, and other data to improve quality, control costs and managing provider networks, and providing access. The U.S. Government is building a new payment landscape and creating a new paradigm which undertakes the responsibility of coordinating complete care along with bearing the risks of costs and outcomes.

value based care

Value based care has emerged as a successful model with the refinement of information technology and application of strategies to the traditional fee-for-service payment mechanism that ruled the healthcare until lately. Value based care is a highly integrated system and includes the medical Shared Savings Program, value based payments to the hospitals, and others.

Reshaping the healthcare models, a multitude of new payment models have been established, out of which the most important is Value Based Reimbursement (VBR). The Obama Administration introduced and implemented multiple VBR verticals including bundled payments, medical home models, variations of Accountable Care Organizations (ACOs) and special incentives to physicians for care coordination, giving way to many more innovations. The MACRA’s sweeping payment reform provisions comprise of several steps to facilitate providers to participate in Alternative Payment Models (APMs) for initial bonus payments, exemption from MIPS requirements, and are not expected to meet EHR requirements. The healthcare providers participating in APMs are eligible for higher annual payment updates for their fee-for-service revenue stream beginning in 2026. Further, MACRA also establishes a 2-track system for identifying qualifying participants

1) Beginning in 2019, if they receive a significant share of APM revenue in Medicare alone; or

2) Beginning in 2021, if they receive a significant share of APM revenue through Medicare or a combination of Medicare and other payers.

The Department of Health & Human Services (HHS) aims for converting 30 percent of the fee-for-service Medicare payments to value based care models by the end of 2016 and expects 50 percent of traditional payments undergo this care transition by 2018.

Bundled Payments

bundled payments

Also called as episode based payments, this introduces a single payment for services provided under a complete episode of care. Providers including the hospitals, physicians, settings, surveys, procedures and exercises all come together on a single platform and interact closely to make the medical procedure hassle-free and convenient for both – the providers and patients. This drastically reduces the medical expenditure too.

The VBC initiatives are being appreciated by care-givers, payers, and other stakeholders.

  • The Centers for Medicare and Medicaid Services (CMS) estimated a growth at the rate of $10 billion per year for medical reformation efforts like VBC.
  • Aetna invested 15 percent of its spending towards VBC efforts and announced to invest up to 45 percent by 2017.
  • The Department of Health & Human Services aims at tying 30 percent of their payments to value based care payment models by the end of 2016 and would increase this to 50 percent by 2018.

The government has initiated the care transition and now is the time for some real change in the healthcare spendings of the United States. Life Cycle Health’s initiatives are in compliance with the government’s take on value based care system and our patterns adhere to treating patients with complete satisfaction and at reasonable prices. We designed a platform where all individuals involved in patient care can interact throughout the treatment episode and invest our innovative ideas so that medical care can prosper with the willingness of care-givers and patients. We accept bundled payments so as to calm down the huge medical expenses.

For more info visit :

  1. Value Care is the New Health Care – United States Government
  2. Value-based care is changing everything