How Telemedicine Became a Booming Industry

Telemedicine is not a new industry, yet it is growing by leaps and bounds. It should come as no surprise to you that this is the case given the need during the start of the global pandemic. At the height of the start of the pandemic in the first quarter of 2020, there were over 1.6 million telehealth visits on record.

Telehealth is big business – $20 billion plus in all at that moment, and expected to reach nearly $187 billion within 5 years. That said, is it here to stay now that many people are going back to see their doctors in person? The answer is yes to some degree. 

There is a difference between telemedicine which allows for deeper diagnosis and gives providers the ability to do remote clinical services. Telehealth, on the other hand, is limited to non-clinical services that include fulfilling medication which is known as telepharmacy, chronic condition support, and physical and occupational services. Also, telehealth can be used to facilitate provider training, administrative meetings, and continuing education for medical staff.
Learn more about the rapid rise of telemedicine and why it is here to stay in the visual deep dive below:

The Booming Business of Telemedicine