The telehealth story is only growing stronger by the day.
In fact, with the pandemic showing no signs of cooling, it’s creating a potential $250 billion opportunity. According to a new McKinsey & Co. report, the firm “estimates that up to $250 billion, or 20% of all Medicare, Medicaid, and commercial outpatient, office, and home health spend could be done virtually.”
In addition, with acquisitions and plenty of support from the White House, the telehealth boom has just begun to revolutionize the multi-trillion-dollar healthcare market. For one, Teladoc Health announced it will acquire Livongo Health in a deal valued at $18.5 billion. Two, President Trump just signed an executive order to expand telehealth in rural areas. Three, more people are embracing telehealth. According to a recent survey from healthinsurance.com, more than 60% of Medicare-eligible seniors say they’re now using the technology.