{"id":42826,"date":"2020-07-30T06:00:32","date_gmt":"2020-07-30T13:00:32","guid":{"rendered":"https:\/\/www.ringcentral.com\/blog\/?p=35054"},"modified":"2024-08-07T07:36:30","modified_gmt":"2024-08-07T14:36:30","slug":"how-healthcare-providers-leverage-telehealth-to-advance-new-business-models","status":"publish","type":"post","link":"\/us\/en\/blog\/how-healthcare-providers-leverage-telehealth-to-advance-new-business-models\/","title":{"rendered":"How healthcare providers leverage telehealth to advance new business models"},"content":{"rendered":"

Telehealth services represent an innovative way for providers to connect with patients. Moreover, they offer a tremendous opportunity; with telehealth services, healthcare providers can put new business models into practice.<\/span><\/p>\n

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View RingCentral\u2019s Sample business models for successful telehealth services one-sheet<\/b><\/a><\/p>\n<\/blockquote>\n

To understand the business value of telehealth services, consider the following statistics:<\/span><\/p>\n

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Source: <\/span>RingCentral’s <\/span><\/i>Connected Telehealth: Personalized patient care from anywhere<\/span><\/i><\/a> eBook<\/span><\/i><\/p>\n

To enable healthcare providers to get the most out of the business opportunities telehealth services have created,<\/span>\u00a0RingCentral is now offering RingCentral Office for free<\/span><\/a>.\u00a0<\/span><\/p>\n

Virtual appointments<\/b><\/h2>\n

One of the most prominent business models that telehealth services enable is\u00a0<\/span>virtual appointments<\/span><\/a>. With telehealth technology, providers can speak to their patients over the phone or hold video conferences. According to a 2017<\/span>\u00a0Advisory Board survey<\/span><\/a>, 77 percent of respondents indicated that they would consider seeing a practitioner virtually, and approximately one in five had already done so.<\/span><\/p>\n

Regarding the surge in telehealth adoption since the recent pandemic, a\u00a0<\/span>2020 McKinsey report<\/span><\/a> reveals that 46 percent of patients are now using telehealth to replace canceled in-person visits, up from just 11 percent of patients who used telehealth in 2019.<\/span><\/p>\n

Recent\u00a0<\/span>regulatory changes<\/span><\/a> have actually encouraged healthcare providers to offer telehealth services. Assurance of reimbursement for offering telehealth appointments has now removed one of the previously significant impediments to the adoption of telehealth services for many healthcare organizations.<\/span><\/p>\n

Partnering with employers to provide telehealth services<\/b><\/h2>\n

Many workplaces offer employee assistance programs; however, offering\u00a0<\/span>telehealth services<\/span><\/a> to employers could be a new way to increase your revenue, reach more patients, and deliver value.<\/span><\/p>\n

According to a\u00a0<\/span>recent PwC report<\/span><\/a>, 49 percent of consumers with employer coverage said they are willing to use telehealth in place of an in-person visit. Those stating a willingness to use telehealth services indicate they would use them for the following types of medical services:<\/span><\/p>\n

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With telehealth technology, a partnership with employers creates a number of possibilities. Employees could connect with a provider through a kiosk, or they could use their tablet or smartphone to start a video conference. They could also pick up a phone and be routed through a contact center to an available provider.<\/span><\/p>\n

Partnering with universities to provide telehealth services<\/b><\/h2>\n

While universities have health centers for students, there are long waiting lists to access services due to the relatively low number of staff members working at these centers. Telehealth services could ease that burden as well as boost revenue for providers.<\/span><\/p>\n

Students could connect with a provider to receive the care they need from the convenience of anywhere on campus. Providers could increase their patient roster without having to commute, thus creating a win-win scenario for all involved.<\/span><\/p>\n

Telehealth services may be especially welcomed by typical college-aged students who have grown up as digital natives. Whereas older patients may be a bit slower to adopt telehealth as an option, the college-aged demographic may consider telehealth to be a natural extension of the way they already interact with the world at large.<\/span><\/p>\n

Dr. Ryan Spaulding<\/span><\/a>, acting director of the KU Center for Telemedicine and Telehealth at the University of Kansas Medical Center, believes that using telehealth services helps to reduce some of the stigma associated with seeking medical care, including mental health care, for students. He notes:<\/span><\/p>\n

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“Mental health services are really scarce and hard to find…So, having that access on campus would certainly be a benefit that might not be there without telemedicine.\u201d<\/span><\/i><\/p>\n<\/blockquote>\n

Reaching rural patients<\/b><\/h2>\n

Another opportunity telehealth services provide is the ability to reach\u00a0<\/span>rural patients<\/span><\/a>. Historically, rural patients have been underserved by healthcare providers. Faced with the prospect of traveling long distances at considerable expense in terms of lost wages, transportation costs, and inconvenience, many rural patients put off seeking medical care indefinitely.<\/span><\/p>\n

According to<\/span>\u00a0research sponsored by NPR, the Robert Wood Johnson Foundation, and Harvard T.H. Chan School of Public Health<\/span><\/a>, rural Americans are willing to use telehealth services. When those who have used telehealth in the past were asked the reasons for choosing telehealth services:<\/span><\/p>\n