Telehealth, RPM, and EVV: Paving the Way for Smarter Healthcare Delivery

 By Shani Bhavsar CEO/CTO

In an era where healthcare is rapidly evolving, technology has become the driving force behind transformative innovations. Among the most impactful of these advancements are Telehealth, Remote Patient Monitoring (RPM), and Electronic Visit Verification (EVV). These technologies are revolutionizing the way healthcare is delivered by connecting patients and providers more effectively, while also addressing long-standing challenges such as access to care, chronic disease management, and regulatory compliance.

Telehealth in Healthcare: Expanding Access to Care

Telehealth has revolutionized healthcare delivery by enabling remote consultations, follow-ups, and chronic disease management. The COVID-19 pandemic accelerated its adoption, underscoring its crucial role in maintaining continuity of care during challenging times. Today, telehealth in healthcare includes secure video conferencing, seamless integration with Electronic Health Records (EHR), and AI-driven diagnostic tools that facilitate efficient, high-quality care.

Key Innovations in Telehealth

·         Artificial Intelligence (AI) and Chatbots: AI-powered virtual assistants can triage patients, schedule appointments, and even provide medication reminders. For instance, with platforms like HeyGen, doctors’ avatars can be created to enhance personalized care. HeyGen recently raised $60 million in Series A funding, marking a significant milestone in the AI healthcare space.

·         Virtual Reality (VR): VR-based telehealth is emerging as a promising solution for mental health therapies, pain management, and rehabilitation. Companies like XRHealth and C2Care have already made waves, with XRHealth raising $6 million and C2Care securing $1.1 million in funding.

Despite its potential, the scaling of telehealth is not without hurdles. Regulatory frameworks, reimbursement policies, and ensuring equitable access remain significant challenges that require continued innovation and strategic advocacy.

Leading Companies in Telehealth

Telehealth covers a wide array of specialties, each with companies leading the way in their respective domains. Below are a few prominent players:

Mental Health

·         BetterHelp: Provides online therapy with licensed therapists via video, phone, and messaging. A subsidiary of Teladoc Health, BetterHelp contributed more than $1 billion in revenue in 2023, which was about 44% of Teladoc’s total revenue

·         Talkspace: Offers therapy and psychiatric services through text, video, and audio messaging. Talkspace has raised a total of $109 million over six funding rounds. ts largest funding round, a Series D, occurred in May 2019, raising $50 million.

Primary Care

·         Teladoc Health: Delivers comprehensive virtual care, offering primary care services available 24/7. Teladoc continues to focus on innovation in telehealth and improving operational efficiency, including projections of $425 million in adjusted EBITDA by 2025

·         Amwell: Connects patients with board-certified doctors for various primary care needs. Amwell has secured total funding of $787 million across 12 funding rounds. This figure encompasses investments from notable backers, including Google Cloud, which contributed $100 million in 2020 to strengthen Amwell’s telehealth platform capabilities

Pediatrics

·         Pediatric Associates’ KidzDocNow: Dedicated to pediatric care, this platform provides specialized telehealth services tailored to children’s healthcare needs.

·         Blueberry Pediatrics: Blueberry Pediatrics offers parents 24/7 access to licensed pediatricians for virtual consultations, ensuring timely and expert care. Blueberry Pediatrics has raised a total of $9.45 million across two funding rounds

Remote Patient Monitoring (RPM): Bridging the Care Continuum

RPM extends healthcare beyond traditional clinic settings by enabling clinicians to monitor patient health remotely. Through connected devices like smartwatches, blood glucose monitors, and pulse oximeters, healthcare providers can track real-time data and intervene when necessary. The Centers for Medicare & Medicaid Services (CMS) have bolstered RPM adoption by introducing billing codes for these services.

Remote patient monitoring devices have revolutionized the management of chronic conditions like diabetes, heart disease, and hypertension. These remote patient monitoring devices collect real-time health data, which is transmitted to healthcare providers, enabling continuous monitoring and early intervention.

Benefits of RPM

·         Chronic Disease Management: Continuous monitoring has proven especially beneficial in managing chronic conditions like diabetes, hypertension, and chronic obstructive pulmonary disease (COPD).

·         Cost Savings: RPM reduces hospital readmissions and emergency room visits, leading to significant cost savings for both patients and healthcare systems.

·         Patient Engagement: RPM empowers patients to track their health data, increasing accountability and adherence to care plans.

While RPM offers numerous advantages, challenges such as device compliance, data security, and inclusivity for less tech-savvy populations must be addressed.

Notable RPM Companies

Several companies are at the forefront of RPM innovation, combining technology with healthcare expertise:

·         Health Recovery Solutions (HRS): Offers a clinically enabled suite of RPM and telehealth services focused on patient-centered care.

·         Optimize Health: Provides high-usability RPM technology that allows healthcare organizations to enhance revenue streams without disrupting existing workflows.

·         Accuhealth: Ranked among the top 5 in AVIA Connect’s list of the top 50 RPM companies, Accuhealth offers comprehensive RPM services.

Collectively, these companies have raised over $191 million to advance RPM technologies.

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