2023 was a pivotal year for telehealth. Following the surge in usage fueled by the pandemic, the industry faced a reality check. While telehealth remains valuable, it’s adapting to a new normal. Here’s a look back at 2023 trends and what to expect in 2024:
2023: A Year of Adjustment
- Growth slowdown: Post-pandemic enthusiasm dipped, leading to decreased funding for telehealth startups and a shift towards consolidation within the industry.
- Policy focus: The US extended many temporary telehealth flexibilities until December 2024, but questions remain about their permanence and future federal regulations.
- Focus on value and integration: Attention shifted from rapid expansion to integrating telehealth seamlessly into existing healthcare systems and demonstrating its value proposition.
- Technology advancements: Augmented and virtual reality (AR/VR) made inroads, promising new applications for remote assessments and patient education.
2024: Navigating the New Normal
- Stability and consolidation: Expect continued consolidation as smaller players merge with established healthcare providers or technology companies.
- Policy crossroads: The fate of permanent telehealth regulations remains uncertain. Policy debates will likely center on reimbursement, payment parity, and access across rural and underserved areas.
- Specialization and focus: Telehealth will increasingly target specific specialties and patient populations, offering tailored solutions for chronic disease management, mental health, and remote monitoring.
- Data-driven decisions: Providers will leverage data analytics to understand telehealth utilization, identify cost-effective applications, and improve patient outcomes.
- Tech evolution: AR/VR, AI-powered chatbots, and remote diagnostics will continue to reshape the telehealth landscape, offering more immersive and personalized experiences.
Challenges and Opportunities
Telehealth in 2024 faces challenges, including ensuring equitable access, navigating evolving regulations, and demonstrating financial viability. However, opportunities abound. Integrating telehealth with traditional care, leveraging technology advancements, and focusing on value-based models will be key to success.
Looking ahead, telehealth is not going away. It’s evolving into a mature and integrated part of the healthcare ecosystem, with the potential to transform how we access and deliver care.
