2020 was the tipping point for the telemedicine industry. While telemedicine was widely in practice even before the pandemic hit, widespread social distancing measures and increased burden on the existing healthcare system has led to a surge in telemedicine adoption like never before.
Understanding the growth and usage of telemedicine in the past is the key to making the most of this technology in the future. Statistics form the basics of informed decision making.
If you are planning to start on your telemedicine journey or are looking for ways to improve upon telemedicine utilization in your healthcare organization, here are 25 compelling telemedicine statistics that will tell you everything you should know about the telehealth industry.
Telemedicine market and growth statistics
1. The global telemedicine market is projected to grow at a CAGR of 23.5 percent and reach $185.66 billion by 2026. Fortune business insights
2. In the US, the telemedicine market size in 2019 was valued at $45.5 billion in 2019. For the duration of 2020-26, the market is expected to grow at a CAGR of 19.3 percent. Global market insights
3. The United States currently spends $3.5 trillion on healthcare every year. Out of this, 85 percent of the direct spending occurs on chronic disease management.
According to a 2020 report by FCC, widespread use of virtual consultations and remote patient monitoring can result in a cost saving of $305 billion annually.
4. Fuelled by the COVID-19 pandemic, the telemedicine market is forecasted to grow by 64.3 percent in the US in 2020 alone. Frost and Sullivan
5. Only 24 percent of healthcare organizations offered virtual consultations in January 2020 but due to the rapid adoption of telemedicine, telemedicine visits are expected to surpass 1 billion this year. Forrester research
Telemedicine and coronavirus statistics
1. The consumer preference to use of telemedicine stood at 11 percent in 2019. In 2020, the current telemedicine adoption rates have reached 49 percent. McKinsey research
2. The types of services available for telemedicine have greatly increased as a result of coronavirus pandemic. Back in March, the US centres for Medicare and Medicaid services (CMS) temporarily approved 80 new services, removed geographical restrictions on practicing telemedicine and added other regulatory flexibilities to increase access to virtual care. CMS
3. Healthcare practitioners who have rapidly scaled their telehealth offerings now are reporting 50 to 175 times increase in telehealth visits as compared to pre-COVID era. Mckinsey
4. 57 percent of healthcare providers view telehealth more favorably than what they did before the coronavirus pandemic. 64 percent practitioners are more comfortable with using telemedicine now as compared to before the pandemic. Mckinsey Insights
5. The Coronavirus Aid, Relief, and Economic Security Act, commonly referred to as CARES act gave an economic stimulus package of $2.2 trillion. The federal communications commission announced a $200 million program to enable eligible healthcare providers to purchase devices and services required to practice telemedicine. FCC
Changing consumer preferences for Telemedicine
1. 86 percent of patients who received care through telemedicine expressed interest in telemedicine for future care as well. Neurology
2. 62.6% patients and 59% clinicians there is no difference between virtual/telehealth and physical visits as far as the overall quality of the visit is concerned American Journal of Managed Care
3. 20 percent of the patients would go as far as switching healthcare providers if offered the option of video visits. The numbers are even higher in the case of the younger generation where 26 percent of patients between the age of 18-34 and 30 percent of users between the age group of 35-44 would be willing to make the switch. Amwell
4. An average patient spends 121 minutes to get down to the doctor’s office and have an in-person appointment. Out of these only 20 minutes are actually spent in the doctor’s presence while the rest is spent commuting and waiting for the appointment. By eliminating the commute and wait times, telemedicine is effective in saving 100 minutes per patient making it a favorable choice for physician consultations. Forbes
5. When patients were asked what would encourage them to book a telemedicine appointment, convenience factors were found to be largely driving adoption of telemedicine. 69 percent of respondents reported easy-to-use technology as their preference, 57 percent of them chose ease of communication, 47 percent reported online scheduling capabilities as most important and 47 percent chose immediate appointment availability as the most important aspect of telemedicine. Medical Economics
Telemedicine success statistics
1. Clinicians considered telemedicine satisfactory in 93 percent of all healthcare encounters and suggested telemedicine as a component for follow-up care in 89 percent of the cases. Neurology
2. 79 percent of responding patients who participated in the program felt that finding a convenient time for a follow-up virtual video visit was easier than for a traditional office visit. Massachusetts general hospital
3. 52.5 percent of physicians who used telemedicine for follow up visits reported that virtual healthcare visits were more effective than in-office follow-up visits. American Journal of Managed Care
4. Use of telemedicine in combination with remote patient monitoring for management of chronic conditions yielded an annual savings of $8,375 per patient, which for a typical 1 million member health plan could translate into savings of $1.1 million every year. Geneia
5. Banner Health launched an ambulatory care program which involved care delivery through telemedicine. In the first year of implementation, it resulted in cost reduction of 34.5 percent. FCC
Telemedicine Specialty Statistics
1. Mental health segment accounted for more than 15% market share in 2019 Global market insights
2. 93 percent of telepsychiatry patients feel that they can present the same information over the phone as they can at a face-to-face visit and 96 percent are satisfied with their virtual sessions. PubMed
3. Ochsner Health system launched a remote patient monitoring program to help patients manage hypertension via a smartwatch. The program participants were twice as successful in achieving their target blood pressure levels as compared to non participants. Telemedicine and remote patient monitoring also resulted in marked improvement in the levels of patient engagement. Federal Communications Commission
4. University of Mississippi Medical Center (UMMC) launched a telemedicine pilot for diabetes care and remote patient monitoring. The program saw medication compliance levels at 96 percent. It also resulted in marked decrease in the blood glucose levels, early detection of diabetic retinopathy and completely eliminated diabetes-related hospitalizations or emergency room visits. Medcitynews
5. Frederick Memorial hospital tapped into the power of telemedicine and remote patient monitoring for patients suffering from cardiovascular disorders. With the help of 4G tablets, blood pressure monitors and pulse oximeters. The devices send the data on patient’s vitals over to the staff at FMH and it has resulted in reducing the hospital readmissions by 89 percent over a 30 day period. It also reduced the emergency department visits for these patients by 49 percent. Frederick News Post
Closing words
The telemedicine industry is currently booming and will continue to do so even after the effects of the pandemic subside.
As both patients and healthcare providers look towards virtual care as a robust alternative to in-person visits, developing a feature rich telemedicine application is going to be crucial for remaining relevant in the competitive landscape.