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U.S. Telehome Care Markets
Frost & Sullivan, May 2000
Long Term Care and Chronic Ailments Trends Creates
Opportunities for Telehome Care
In recent years, home healthcare has grown as an alternative to hospital stays;
new technologies allow home healthcare nurses to monitor patients from a
central station rather than traveling to remote areas for routine, chronically
ill, or recuperating patient check-ups. Remote patient monitoring is less
expensive, more timely, and is efficient methodology. As demand grows, the
telehome care market is growing rapidly.
This Frost & Sullivan report presents an in-depth look at the U.S. telehome
care markets for both the provider and vendor by analyzing the drivers and
restraints of this emerging industry. Gain an advantage over uninformed competitors
with this insightful research.
Challenges Could Impede Market Growth
While this technology is presently available, there are several challenges to
market penetration. Access to this market is restricted to those with computers,
and the technology is not as affordable as predicted. Also regulatory or
pending issues have yet to be resolved.
Physician licensure remains a problem, state the author of this report.
Numerous states have passed laws or regulations stating that the interstate
practice of medicine via electronic means is illegal unless the distant consultant
possesses a license in that state.
Market Alliances and Consolidation Key to Success
After home healthcare agencies offer telehome care as an option for their
patients, only widespread success will compel the agencies to form alliances
with hospitals and other traditional healthcare providers.
As home healthcare agencies consolidate and become affiliated with hospitals,
we will see greater movement towards adoption of telehome care, say
the authors. Hospitals are projected to be the main drivers of this program.
Smaller market participants need to stay apprised of rapid technological
advancement and adapt to the changing competitive environment even as
large corporations enter the market.
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