According to a report by the American Hospital Association (AMA), telemedicine is on the rise at hospitals and represents a major cost-saving strategy. Telemedicine involves using digital technologies as a medium through which patients, medical professionals, and health-care institutions can communicate relevant health data. For instance, telemedicine may involve remote patient monitoring and patient-doctor consultations carried out via video conferencing.
Evidence of telemedicine’s impact, as outlined in the ACA’s report, originates from the Veterans Health Administration (VHA), which relies substantially on telemedicine at a cost of roughly $1,600 per patient each year. While that may seem expensive, the $1,600 figure compares to the cost of traditional in-home care, which is $13,000 per patient each year.
Moreover, the report suggests that telemedicine may have reduced VHA hospital admissions by nearly one-fifth. Overall, the VHA believes that it saved more than $6,000 per patient enrolled in its telemedicine project.