Courtesy: iStock In an industry steeped in tradition, the COVID-19 pandemic has catalyzed change. Several healthcare trends have emerged during the crisis; here are five that are shaping up to profoundly impact the way services are delivered.
> Telehealth is here to stay Technology issues, reimbursement rates, and physician reluctance kept the usage of telehealth low before the pandemic. Healthcare analytics firm FAIR Health reports that telehealth represented just 0.12 percent of insurance claims in 2018. But when elective procedures were suspended in Texas and across the nation during the pandemic, and patients began avoiding physician offices, doctors quickly transitioned to virtual patient visits. Federal regulation followed, allowing for telehealth visits to be billed like an in-person appointment. Today, nearly all physicians and healthcare systems offer a telemedicine option. Market research company Arizton estimates telemedicine will become a $10 billion industry by the end of the year, with double-digit year-over-year growth of around 80 percent.
Prospective Payments and Care Incentives Due to a health insurance system that pays most physicians for the services they perform rather than maintaining the overall health of the patient, revenues collapsed when elective procedures were canceled during the pandemic. Fee-for-service payment also offers […]
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