Telemedicine Needs Restructuring for Long-Term Sustainability

While popular teleconsultation platforms like Medindia, Practo and MeddiBuddy are still active, the landscape is changing.

Highlights:

The telemedicine, driven by the COVID-19 pandemic, has transformed healthcare in India
A 2023 report by TIFAC projects the Indian telemedicine market to grow significantly, with a 31% CAGR between 2020 and 2025, reaching USD 5.5 billion
India must evolve beyond doctor-patient calls, focusing on holistic, integrated care mechanisms and patient monitoring

The explosion of telemedicine occurred in the last four to five years, with a significant boost provided by the COVID-19 pandemic. During the pandemic, teleconsultation platforms offered patients an alternative to in-person visits, helping them avoid the risk of contracting the virus in hospitals.

A Growing Market: Telemedicine in India

As we transition into the post-COVID-19 era, experts in the healthcare industry are noticing a decline in footfalls on telemedicine platforms compared to the peak activity during the pandemic.

While popular companies like Medindia, Practo, MeddiBuddy, MFine, and Lybrate continue to offer teleconsultation services, the landscape is changing.

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According to a 2023 report by the Technology, Information Forecasting and Assessment Council (TIFAC), the telemedicine market in India is projected to experience significant growth, with a compound annual growth rate (CAGR) of 31 percent between 2020 and 2025, ultimately reaching a market size of USD 5.5 billion.

This expansion is driven by the increasing demand for teleconsultations, telepathology, teleradiology, and e-pharmacy services.

While the telemedicine market is poised for growth, independent teleconsultation companies are facing stabilization in their growth rates.

Telemedicine
Telemedicine refers to the use of information and communication technology to provide health care and information from a distance.

The rapid rise in telemedicine during the pandemic has given way to a more competitive environment, where large healthcare providers have gained an upper hand.

Dr. Vikram Venkateswaran from Deloitte India notes that telemedicine consultations now account for roughly 10 to 25 percent of total consultations at hospitals, with an average of around 10 percent. This plateau suggests that growth for independent teleconsultation services is slowing down ().

The Need for an Integrated Telemedicine Approach

Industry critics argue that telemedicine needs to evolve to ensure sustainability and growth. Presently, many teleconsultation platforms primarily offer remote conversations between doctors and patients, lacking integrated care mechanisms that provide substantial value to patients.

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Siddharth Srinivasan, CEO of Lupin Digital Health, believes that telemedicine should expand beyond mere doctor-patient calls. Patients should be able to measure their vitals at home, with real-time data accessible to their healthcare providers.

This holistic approach, where technology supports remote monitoring and diagnosis, is considered the way forward.

Dr. K Ganapathy, Director of Apollo Telemedicine Networking Foundation, emphasizes that despite fluctuations in footfalls, telehealth deployment has considerably increased compared to the pre-pandemic era. Hospitals, in particular, are actively integrating digital platforms to engage with patients, creating unique patient profiles, and offering personalized services.

The consensus among experts is that telemedicine must play a more significant role in healthcare beyond consultations.

Dr. Venkateswaran points out that hospitals provide a care continuum, covering preoperative, operative, and post-operative care. While telemedicine platforms offer online consultations, they currently fall short of being an integral part of patient care.

To stay relevant and competitive, teleconsultation platforms are actively diversifying their services, moving beyond consultation-driven revenue models. They are exploring new solutions and interventions throughout the healthcare value chain, from patient engagement to digital outreach.

In conclusion, the landscape of telemedicine in India is rapidly evolving, with both opportunities and challenges. The post-pandemic era has forced the industry to reassess its role and capabilities in the healthcare ecosystem.

As telemedicine continues to grow, integrating with traditional healthcare services and providing value beyond consultations will be crucial for its long-term success.

Reference:

Advances in telemedicine in the 21st century - (https://pubmed.ncbi.nlm.nih.gov/15366773/)

Source-Medindia