International markets – particularly developing countries with a need for the depth of expertise offered by U.S. health care providers – will play a significant role in driving telemedicine growth and continued health care transformation in 2016.
Arrangements between U.S. health care providers and overseas medical institutions are becoming an increasingly important pathway to new patient populations, revenue growth, and stronger global brands. The advantages fueling telemedicine’s stateside growth – lower costs, greater convenience, and fewer unnecessary emergency room visits – are equally compelling abroad. An international telemedicine model offers great benefits to rural and developing regions, where access to medical facilities is limited. The largest driver to date, however, has been a desire to tap into the deep specialty expertise of marquee U.S. health care providers.
In 2016, we expect telemedicine’s international expansion to come primarily from provider collaboration, the expansion of clinical trials overseas, and the desire to reach new patient populations. Here’s a look at each of those three drivers:
Global expansion will inevitably spawn more innovative business models that, in turn, will propel further growth in telemedicine in the coming year. International growth is among five telemedicine trends driving health care transformation in 2016 and beyond. Next, we will cover U.S. state lawmakers driving telemedicine expansion.
For more information on Foley’s Telemedicine Practice, visit Foley.com/telemedicine.