The telemedicine industry has experienced unprecedented growth in the last two years, following the COVID-19 pandemic. Though telehealth service has been around for decades, it only accounted for a small percentage of the health care services.
The spread of COVID-19, and the social distancing protocols that followed it, forced health care workers to accommodate patients remotely. According to the Centers for Disease Control and Prevention (CDC), from March 2019 to March 2020, telehealth use increased by 154%.
At the peak of the pandemic in March 2020, there were 12 million telehealth utilizations. However, by March 2021, usage declined to 9 million telehealth consults, which is most likely a result of the easing social distancing protocols. Despite this drop, it’s still leaps and bounds from the 2 million monthly telehealth utilizations in 2019 pre-pandemic, leading experts to assume telemedicine will play a crucial part in health care moving forward.
Telemedicine may have revolutionized the healthcare industry, but not without some challenges. Many practitioners have borne the brunt of the telemedicine teething pains, from hiring full-time staff with the technical know-how of telemedicine technology to collecting co-payments to processing payments.
TeleTrustMD addresses the administrative and staffing nightmares by providing all the necessary services practitioners get from technical staff in a streamlined process, while reducing costs and minimizing downtime. This enables practitioners to focus on treating more patients, eventually driving more revenue.
TeleTrustMD’s platform also addresses potential issues with data privacy and security. With the platform, practitioners can store patient data and information in a secure network without worrying about breaches. Since TeleTrustMD is compliant with the Health Insurance Portability and Accountability Act of 1996 (HIPAA), the platform itself doesn’t store patient information.
One of the biggest problems practitioners encounter with telemedicine is missing co-payments. Initially, insurers covered virtual visits like they would an in-person appointment. However, as time passed, some private insurance companies started to roll back their coverage for telemedicine, leaving practitioners with the burden to collect co-payments. Some have missed collecting as much as $1,000 worth of co-payments for just a single week. TeleTrustMD’s platform ensures practitioners never have to worry about failing to collect patient co-payments because it processes payments in real-time using pre-existing systems.
Practitioners often complain about difficulties in finding and hiring staff with the experience to run a telemedicine business. Because most maintain a hectic schedule, they don’t have time to train and monitor new hires. As a result, practitioners deal with many human errors, particularly with payment processing. With TeleTrustMD, practitioners can do away with staffing problems from recruitment to hiring to training because the platform provides all the services a full-time staff can do and more.