The healthcare industry has been presented with a plethora of opportunities to grow and implement new disruptive technologies. At the same time, the healthcare industry has also been under extreme pressure to provide essential services during these distressing times
Fremont, CA: The novel coronavirus disease has forced us to change life as we know it and adopt new measures to ensure our safety. With time, industries realized the impact of the virus was much beyond expected, and life would probably not return to normalcy. Communities are gradually accepting the idea of a new healthy life with masks and social distancing. Business leaders are developing new ways to evolve their business and adapt their business to a world with coronavirus. No industry is immune to the virus, and some of them have felt the impact of the virus on massive scales. Some industries have also benefited from the outbreak of the pandemic. One thing that can be accepted is the fact that the virus has presented an opportunity for businesses to rethink their methods and come up with new innovative ways.
The healthcare industry has been presented with a plethora of opportunities to grow and implement new disruptive technologies. At the same time, the healthcare industry has also been under extreme pressure to provide essential services during these distressing times. Healthcare systems are radically and rapidly rethinking the delivery of care. One unprecedented breakthrough was the accelerated expansion of telehealth. In a world where social distancing is the new normal, telehealth has emerged as the most suitable option for healthcare systems. The pandemic may provide the incentive needed to realize the potential of telehealth. Nevertheless, concerns remain that safety and privacy may be compromised by rapid deregulation, despite data, although limited, regarding good overall quality.
One reason for the slow adoption of telehealth before the pandemic was the lack of payment parity between clinic care and telehealth. Low reimbursement rates for telehealth was viewed as a serious disincentive. Without payment, it would be difficult for clinicians to afford to provide the service, despite data from previous studies suggesting clinicians were broadly supportive about its use. Besides, payment rates should be reflective of the cost of services. Overpayment should be avoided if clinicians can use telehealth to deliver more visits per session. SInce the outbreak of the virus, the concept of pay equity has emerged to prevent perversely incentivizing the use of telehealth encounters.