June 9, 2020: Unlike our previous News Day episodes, where we cover several stories, today is a deep-dive into a single article titled ‘Telehealth: A quarter-trillion-dollar post-COVID-19 reality’. This McKinsey article looks into telehealth research to explore its future — a key theme that we’re looking at closely here at This Week in Health IT. Before diving into the article, Bill gives some context on telehealth missteps over the last decade and why COVID-19 has accelerated the integration of telehealth. Bill discusses why he thinks telehealth funding will continue, possibly into next year, and how the past few months have been an incredible and massive telehealth that’s generated a wellspring of data. Data that will be vital in optimizing telehealth in the future. Bill then dives into the article which predicts that “$250 billion of current US healthcare spend could potentially be virtualized.” After establishing five models of virtual care, the article details five actions for payers, providers, and investors to take to figure out what telehealth means for them. While highlighting each action, Bill provides his take on the situation, as informed by the research generated by his team. Listen to this episode for insights into how McKinsey views the future of virtual care.
Key Points From This Episode:
- Bill details the missteps in rolling out telehealth over the last decade.
- Why it took COVID for providers to embrace telehealth.
- How the medical landscape shifted, allowing for telehealth to proliferate.
- Bill’s assumption; emergency funding will continue into the year.
- How the data generated over the last few months can steer the course of telehealth.
- The predicted rise of virtual urgent care.
- Learn the five actions that should be taken by telehealth payers, providers, and investors.
- Why we need to think of telehealth in broader terms.
- Kaiser’s success in educating people about their digital front door.
- The role of marketing in educating patients about your telehealth services.
- The challenges of integrating technology into a patient’s home.
- Why tele-ICUs are a must-have for CIOs.
- The questions that need to be asked before signing with telehealth providers.