The virtual care market accelerated during the COVID-19 pandemic. The pandemic disrupted the practice of medicine and delivery of healthcare worldwide. Social distancing created an unanticipated demand for a solution that has improved access to care. Virtual visits via video, voice, and text, and diagnostics using chatbots became critically important to evaluate, manage, and track COVID-19 patients without an in-person exam. Beyond virtual visits, healthcare providers deployed telehealth solutions and video collaboration tools in various use cases, gaining experience with these solutions and incorporating them into daily routines.
Overcoming Barriers in Telehealth Adoption
According to Frost & Sullivan, COVID-19 accelerated telehealth adoption by two to five years ahead of forecasts. The virtual visit market in the US more than doubled in revenues in 2020 and is forecast to nearly double again in 2021, even as in-person visits resume. Remote patient monitoring (RPM) solution revenues surged even more rapidly in 2020, with these tools used to monitor coronavirus risks and chronic-condition patients not visiting their doctors. This market is receiving further boosts in the US from the CMS Acute Hospital Care at Home initiative.
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