Software Unplugged : The adoption of telemedicine software has been on a rise ever since April 2020. What are your thoughts on this particular trend?
Dr. Ismail Sayeed : The COVID-19 pandemic has had a profound impact on healthcare around the world. Telemedicine has become a vital tool in providing care to patients during the pandemic. Telemedicine allows healthcare providers to consult with patients remotely using telecommunications technology. This type of care is particularly important for vulnerable populations, such as senior citizens, who are at risk of contracting the virus.
Telemedicine can also help reduce the strain on the healthcare system by allowing doctors to see more patients without having to physically meet with them. In addition, telemedicine can be used to provide care to patients in rural areas who may not have access to traditional medical care.
Telemedicine can provide patients with more convenient access to care, and it can also help reduce the cost of healthcare. As the world becomes increasingly digitized, telemedicine is likely to play an even greater role in the delivery of healthcare.
But as the digital health market starts to mature, or perhaps in response to the current macroeconomic effects of a recession, total funding for telemedicine ventures may not be as speculative as before. This means that the provision of telemedicine will have to consider business viability as well. Especially in the No.1 digital health market in the world the United States which is taking on a more reserved and cautious reimbursement approach to telehealth providers.
Software Unplugged : The amount of money invested in virtual care and digital health platforms has increased dramatically over the last 3 years, fueling further growth, innovation and research. Is this trend here to stay?
Dr. Ismail Sayeed : There are many factors to consider when trying to answer this question. First, it is important to understand what types of companies are being funded and why. In general, investors are looking for companies that can solve big problems in healthcare. This could be anything from improving access to care to reducing costs to improving patient outcomes.
Another factor to consider is the stage of development of the company. Early-stage companies are typically riskier, but can also offer higher returns if they are successful. late stage companies are generally more stable, but may not have as much room for growth.
Finally, it is important to look at the overall trends in healthcare spending. Even before COVID-19, healthcare spending was on the rise. This was due to a combination of factors such as an aging population and increasing chronic disease rates. If this trend continues, it is likely that there will be continued interest in investing in digital health companies.
Telemedicine has already proven to be a valuable tool in healthcare, and it is likely that this trend will continue. However, it is important to consider all of the factors involved when making investment decisions. Telemedicine may be a more risky investment during a recession, but it has the potential to offer high rewards if the company is successful.
Software Unplugged : What are the top three trends in telemedicine that will shape the future of healthcare and where does the healthcare industry stand in terms of scaling telemedicine solutions?
Dr. Ismail Sayeed : The healthcare industry is continuously evolving, and telemedicine is playing a major role in shaping the future of healthcare. Regulations, funding, and market trends are the three top trends that will have the biggest impact on telemedicine in the years to come.
Regulations
The healthcare industry is highly regulated, and this is unlikely to change in the near future. Telemedicine providers must comply with a plethora of regulations, including those related to patient privacy (HIPAA), medical licensure, and prescribing medications. While these regulations can be challenging to navigate, they are essential for ensuring the safety and quality of care delivered via telemedicine.
Funding
Funding is another critical factor that will impact the future of telemedicine. Currently, most telemedicine services are reimbursed at a lower rate than in-person visits. This is likely to change as more insurance companies begin to cover telemedicine services and as the evidence base for the effectiveness of telemedicine grows.
Market trends
The healthcare industry is rapidly changing, and telemedicine is becoming increasingly popular. A recent study found that the number of Americans using telemedicine has quadrupled in the past four years. This trend is being driven by a variety of factors, including the increasing use of mobile devices and the desire for convenient, affordable healthcare.
Software Unplugged : How can telemedicine software become a differentiating factor for healthcare professionals and healthcare brands?
Dr. Ismail Sayeed : Healthcare professionals and healthcare brands are always looking for ways to improve the quality of care they provide to patients. One way to do this is by incorporating telemedicine software into their care plans. Telemedicine software can help improve the user experience for both patients and healthcare professionals.
In addition, telemedicine software can also improve interoperability between different healthcare systems. By incorporating telemedicine software into their care plans, healthcare professionals and healthcare brands can improve the quality of care they provide to patients.
Software Unplugged : How will the increased use of telemedicine solutions benefit healthcare systems and patients?
Dr. Ismail Sayeed : There are numerous potential benefits associated with the increased use of telemedicine within healthcare systems. One of the most significant potential benefits is decreased costs. Telemedicine can help to decrease the overall cost of healthcare delivery by reducing or eliminating the need for patients to travel to see their clinicians. This can reduce both the direct costs associated with travel as well as indirect costs such as lost productivity.
In addition to decreasing costs, telemedicine can also help to improve communications between patients and their care providers. This improved communication can lead to better continuity of care, as patients are more likely to stay engaged in their care plan when they feel that they are able to easily communicate with their clinician. Additionally, telemedicine can help to reduce the risk of medical errors by providing clinicians with more complete information about their patients.
Overall, the increased use of telemedicine solutions is likely to have a positive impact on both healthcare systems and patients. By reducing costs and improving communication, telemedicine can help to improve the quality and efficiency of care delivery. Additionally, the increased use of telemedicine may also lead to improved patient outcomes.
Software Unplugged : What’s the biggest challenge the telemedicine industry is facing today?
Dr. Ismail Sayeed : One word. Regulations.
In the United States as an example, the federal government and individual states have been slow to enact regulations that would allow telemedicine to flourish. The result is a patchwork of inconsistent laws and regulations that make it difficult for telemedicine companies to do business nationwide.
For example, some states require that a patient must have seen a doctor in person before they can be treated remotely. Other states have different reimbursement rates for telemedicine services, which can deter providers from offering them.
The lack of clear regulations also makes it difficult for patients to know what their rights are when it comes to telemedicine. Do they have the right to see a doctor via video chat? Can their medical records be shared electronically with specialists?
These are all important questions that need to be answered in order for telemedicine to reach its full potential. Until then, the industry will continue to face challenges in getting patients and providers on board with this new way of delivering healthcare.
Software Unplugged : What’s something about the telemedicine industry that has surprised you lately?
Dr. Ismail Sayeed : I’m surprised by how rapidly AI is being adopted in the industry. In just the last few years, AI-powered chatbots have become commonplace in many telemedicine platforms. These chatbots are used to triage patients and direct them to the appropriate care provider.
I think this is a great development as it can help reduce wait times and improve patient satisfaction. However, I also think it’s important to be aware of the potential limitations of AI in healthcare. For example, AI chatbots may not be able to accurately diagnose more complex conditions. So while they can be useful tools, they should not be relied on exclusively.
Software Unplugged : Should companies invest in telemedicine solutions developed in-house or hire third-party vendors?
Dr. Ismail Sayeed : There are many factors to consider when making the decision to develop a solution in-house or to outsource it. In general, companies should invest in solutions that are mission-critical and/or have a competitive advantage. For example, if a company’s core competency is software development, then it would make sense to develop the solution in-house.
On the other hand, if a company does not have the internal expertise or capacity to develop a solution, then it makes more sense to outsource it. In addition, companies should also
consider the cost of development and the time to market when making the decision.
Software Unplugged : How is The VIOS Clinic differentiating from the competition when it comes to being recognized as the best telemedicine software?
Dr. Ismail Sayeed : The VIOS Clinic has a turnkey process that is focused on the user experience. This allows us to offer a comprehensive telemedicine solution that is tailored to each individual’s needs. Our focus on the user experience ensures that our clients receive the highest quality care possible. Additionally, our telemedicine software is designed to be as user-friendly as possible, making it easy for anyone to use.
The VIOS Clinic is also differentiated by our focus on telemedicine. We believe that telemedicine is the future of healthcare, and we are committed to providing the best possible care for our clients through this technology. Our telemedicine software is designed to meet the needs of both clinicians and patients, making it the perfect solution for those who want to receive the highest quality care possible.
Software Unplugged : The pandemic has created several challenges, particularly in the healthcare industry. Do you have any success story that speaks of how healthcare providers have overcome a particular challenge with your telemedicine technology?
Dr. Ismail Sayeed : Healthcare providers have been quick to adopt telemedicine technology in order to continue providing care to their patients during the pandemic. One of the main challenges has been ensuring that patients are able to access care from home.
Many healthcare providers have found that by offering work-from-home options for their staff, they are able to provide better patient care and improve morale among employees. In addition, work-from-home arrangements can often be more cost effective for both the provider and the patient.
Another challenge that healthcare providers have faced is maintaining a high level of quality care while dealing with increased workloads and lower staffing levels. Many telemedicine platforms have been able to help by automating tasks and providing tools that make it easier for clinicians to keep track of patient care.
In addition, telemedicine platforms have made it possible for clinicians to work independently, which has allowed them to provide care to more patients without sacrificing quality.
Software Unplugged : As a telemedicine industry leader, what are your next steps to boost the adoption of telemedicine solutions?
Dr. Ismail Sayeed: In order to continue boosting the adoption of digital marketing and telemedicine solutions, we must first consider the needs of our target consumers. What are they looking for in a digital health solution? How can digital marketing help to improve their experience with telemedicine?
Some key points to consider include:
– Providing easy-to-use digital marketing tools that allow patients to easily find and book appointments with providers, across state borders and internationally.
– Making it easy for patients to access their medical records and health information online
– Offering a wide range of digital health services that meet the needs of different patient groups eg. affordable generic prescriptions
– Improving patient engagement through targeted digital marketing campaigns
– Working with partners in the healthcare industry to promote the benefits of digital health solutions such as elderly care homes
By considering these factors, we can continue to develop digital marketing strategies that will help boost the adoption of telemedicine solutions.
About Speaker: Dr. Ismail Sayeed MBBS, MMed (Pediatrics), MSc (Global Health UK)
Founder & Medical Director of The VIOS Clinic
