Telemedicine & mHealth: The Fastest Growing Segment of Healthcare?
With healthcare costs on the rise and even deteriorating health outcomes due to complications after patients leave a health care facility, there has been a major opportunity carved out in the space and one company has begun leading a charge to take as much market share as possible ahead of this billion-dollar growth.
mHealth and next level telemedicine isn’t widely known as an industry by the mainstream but large companies are starting to catch onto what some of the health care driven organizations have already been building on for years. This could make for a very near term opportunity for investors.
And here’s where it gets interesting: some 52% of smartphone users actually gather health-related information on their phones. In fact according to data from GreatCall, the total mobile health market revenue will reach $26Billion not in 10 years, but they project this figure by 2017.
Physicians have become large proponents of this segment as well with 40% believing that mHealth technology can actually reduce the number of visits to doctors’ offices. mHealth facilitates a new way of interacting and providing health care.
Innovation and platform leadership are widely seen as the two most important capabilities in mobile and any platform adopted needs to be applicable or interoperable across the entire health care industry.
There has been a major opportunity carved out in the space and one company has begun leading a charge to take as much market share as possible ahead of this billion-dollar growth:
Telehealthcare, Inc. (TLLT)
When you think of an app, you most likely think of going to the app store and downloading a single program. (TLLT) is working to make it easier for medical groups and healthcare service providers to adopt and implement telehealth solutions. The Company’s core technology is CarePanda, a HIPAA Compliant platform that includes billing, scheduling, secure messaging, secure forms and e-prescriptions.
There’s a huge problem with the current model for healthcare. This ranges from over $3.2trillion in healthcare costs, nearly $500million in healthcare system penalties, and fragmented care systems to high costs of home care ($2,000-$10,000 per patient per month) and overall communication inefficiencies with patients/families getting left out of the loop on treatment or follow-ups.
(TLLT) has a system that actually breaks down barriers for healthcare providers and offers a complete and secure way for those at all levels of the healthcare system to communicate and share information while also meeting the strict guidelines including the strict HIPPA (Health Insurance Portability and Accountability Act) standards.
(TLLT) has two product lines:
OnCare™ is the first telehealth platform to incorporate the company’s proprietary Telemedicine Medical Record™ (TMR) providing HIPAA compliance, meaningful use compliance, and fully integrates with existing Electronic Medical & Health Record systems including patient data, scheduling, billing and more.
CarePanda™ is a secure, HIPAA compliant messaging system that runs on Apple, Android or Windows. Just like text messaging, it allows users to securely communicate with staff and patients and is a security tool needed by all telemedicine companies and their patients.
But timing on this could be key and what (TLLT) has just recently announcement could make now the time to be watching (TLLT) even closer:
The U.S. Department of Health and Human Services (HHS) published final rule changes to Confidentiality of Alcohol and Drug Abuse Patient Records regulations, (42 CFR Part 2) to be effective February 17, 2017.
The rule defines:
“The Department of Health and Human Services (HHS) is issuing this final rule to update and modernize the Confidentiality of Alcohol and Drug Abuse Patient Records regulations and facilitate information exchange within new health care models while addressing the legitimate privacy concerns of patients seeking treatment for a substance use disorder. These modifications also help clarify the regulations and reduce unnecessary burden.
The laws and regulations governing the confidentiality of substance use disorder records were written out of great concern about the potential use of substance use disorder information against individuals, causing individuals with substance use disorders not to seek needed treatment.”
Why is this critical to (TLLT) specifically?
In a statement from Derek Cahill, CEO of (TLLT), “We are very encouraged by this ruling and its anticipated impact for our CarePanda secured messaging application. With the implementation of these rulings, we believe CarePanda will be the go-to application for Substance Abuse Centers who will need to use a HIPAA compliant secure messaging solution.”
Furthermore, (TLLT) also stated that the goal in the next six months is to continue to build a recurring revenue base, expand out the ecosystem and develop sales with resellers and customers in key target markets. “Many of these market segments have strong, growing demand for HIPAA compliant communication solutions and telehealthcare services,” so when you talk about timing, we could be looking at (TLLT) on the verge of a major initiative.
Trump Could Give A HUGE Bump To This Industry!
The secret’s out, President Trump wants to overhaul the affordable care act! Ok so maybe that wasn’t much of a secret but while current subscribers to government healthcare remain skeptical, some providers are looking to heavily employ telemedicine and other mHealth options right now.
They are taking a different look at preventative as well as follow-up care. To this end, many speculate that even with a healthcare shake-up, a Trump presidency could also mean a friendly relationship with telemedicine and mHealth organizations.
Also consider that in a recent survey of C-suite individuals, it was found that a resounding 70% of overall healthcare investment and capital expenditure is dominated by healthcare IT & telecommunications.
According to a report Transparency Market Research, the global mHealth services market is expected to see a 23.90% CAGR during the forecast period from 2014 to 2020. In fact, according to the report, by 2020,the market is projected to be worth over US$23.3 billion.
But more specifically to telemedicine, the report also shows that the segment of remote monitoring, collaboration, and consultancy is anticipating an expansion at a rate of 28.0% CAGR during the forecasting time frame.
Does this sound like just another tech start-up to you? (TLLT) is already deploying its technology. Where other tech companies like Google, Apple, or even Facebook went public at more than $20/share, (TLLT) is right now trading under $0.55. The funny part is that not many have heard about this yet and that could make this an even bigger opportunity than anyone had thought. Once the street figures out that the (TLLT) technology is as big as it has already been projected to be, there’s no telling how quickly this could snowball.
The point here is not to simply show you to yet another potentially revolutionary technology. It’s to show exactly how the growing need for something that (TLLT) has already produced could be creating a chance to see “the next big thing in med-tech,” right now.
Obviously nothing is a guarantee but identifying a trend, implementing proper timing, and observing the huge opportunity that telemedicine and mHealth have created could have all arrows pointing to (TLLT).
At the heart of (TLLT) is a very unique technology company. Just think about how savvy investors could have reaped huge rewards had they taken a serious approach to grabbing hold of “the next big thing in tech.”
Whether it was Apple in 1980 or Google in 2004, many would say today that those would have been “no brainers.” What would be the case for you if people say the same thing about (TLLT) “back in 2017”?
This having been said, check out (TLLT) as we are just beginning to pick up coverage on this company. Start your DD on (TLLT).
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