Telemedicine to save healthcare industry over $20B in costs by 2025

This represents a growth rate of over 80% in the next four years

telemedicine

Telemedicine to save healthcare industry over $20B in costs by 2025. Source: pexels.com

According to Juniper Research, telemedicine will save the healthcare industry $21 billion in costs by 2025, rising from $11 billion in 2021.  The concept of telemedicine involves the remote provision of healthcare services and includes technologies such as teleconsultations, remote patient monitoring and chatbots.

The research considers teleconsultations as a key service that will enable these significant savings. Nevertheless, it cautioned that savings would be restricted to developed nations where access to required devices and Internet connectivity is prevalent. Consequently, it predicted that more than 80% of savings will be attributable to North America and Europe by 2025.

Besides, the research estimated that over 280 million teleconsultations were performed in 2019. Although, this rose to 348 million in 2020, owing to the COVID-19 pandemic. It anticipated that the activities of third party healthcare service developers will be crucial in accelerating the deployment of emerging telemedicine services, and increasing the uptake amongst healthcare providers.

Any deregulation must ensure that patient confidentiality is not undermined. Additionally, we recommend that innovative and emerging teleconsultation services are integrated into existing healthcare technologies, such as electronic health records, to maximise their benefits to healthcare providers
Adam Wears, research author

We’ve reported that Google is set to introduce a new hybrid work schedule.

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