COVID-19 Pandemic Ignites Enthusiasm for Virtual Care

COVID-19 Pandemic Ignites Enthusiasm for Virtual Care

Competitors’ Growth Strategies will Shape the Way the Market Opportunity Crystallizes

RELEASE DATE
09-Feb-2021
REGION
North America
Research Code: K537-01-00-00-00
SKU: HC03390-NA-MT_25236
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Description

There is no one definition for virtual care, but Frost & Sullivan defines it in this research as a technical platform that maintains an interactive connectivity between patients, providers, and payers where various processes and services may be scheduled, accessed, monitored, and entered into the medical record without the need for manual calls or paper-based actions initiated by the stakeholders.

The COVID-19 pandemic has changed the dynamics of healthcare. Requirements to ensure social distancing have transformed virtual care from an important innovation to a must-have model. Although some organizations consider virtual care to be a component of telehealth, Frost & Sullivan concludes that virtual care includes telehealth along with various workflow and clinical processes that are vital but often slowed down by inefficient technology and archaic communications systems. Frost & Sullivan believes that a market-based definition of virtual must reflect the activities of the companies involved. As a result, this report focuses on a virtual care market that includes the following segments: telehealth, telemedicine, clinical processes, and operational processes. The virtual care market includes companies that supply platforms, software, devices, services, advisory services, and analytics.

This report reviews the important drivers that are propelling virtual care, and the challenges that must be conquered for virtual care to achieve its enormous potential. This includes the ever-present concerns about privacy and security. The study presents an over view of notable companies in the virtual care space and reviews the types of products and services that comprise virtual visits, remote patient monitoring, virtual care, data gathering, data management, and messaging.

Medical devices and equipment currently account for 48% of the virtual care market. Providers of telehealth services and telemedicine solutions who combine service offerings, platforms, software, and other revenue-generating equipment; electronic health record providers; and virtual care specialists also have a foothold. Many early-phase companies are focused on gathering investors or becoming an acquisition target for larger companies seeking to add to their reach in the virtual care landscape. Information and communication technology companies are also targeting this space.

Author: Victor Camlek

RESEARCH: INFOGRAPHIC

This infographic presents a brief overview of the research, and highlights the key topics discussed in it.
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Table of Contents

Why Is It Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top Three Strategic Imperatives on the Virtual Care Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Key Findings

Key Findings—Virtual Care Market Potential

Scope of Analysis

Virtual Care Segmentation

Virtual Care Segmentation (continued)

Virtual Care Provider Landscape—Short List

Key Questions this Study will Answer

Growth Metrics

Distribution Channels for Virtual Care

Growth Drivers

Growth Driver Analysis

Growth Restraints

Growth Restraint Analysis

Forecast Assumptions

Revenue Forecast

Revenue Forecast by Segment

Revenue Forecast Analysis

Competitive Environment

Revenue Share by Company Type

Revenue Share Analysis

Recent Deals

Telemedicine Segment Overview

Revenue Forecast

Revenue Forecast Analysis

Selected Telemedicine Providers—Advanced ICU Care

Selected Telemedicine Providers—AMD Global Telemedicine

Selected Telemedicine Providers—Eagle Telemedicine

Selected Telemedicine Providers—GlobalMed Telemedicine

Selected Telemedicine Providers—InTouch Health

Selected Telemedicine Providers—Livongo

Selected Telemedicine Providers—MediSprout

Selected Telemedicine Providers—SOC Telemed

Telehealth Segment Overview

Revenue Forecast

Revenue Forecast Analysis

Selected Telehealth Providers—Amwell

Selected Telehealth Providers—HealthTap

Selected Telehealth Providers—MDLive

Selected Telehealth Providers—Medtronic Care Management Services

Selected Telehealth Providers—Teladoc Health

Processes Segment Overview

Revenue Forecast

Revenue Forecast Analysis

Selected Process Suppliers—Conversa Health

Selected Process Suppliers—DrFirst

Selected Process Suppliers—Luma Health

Selected Process Suppliers—Microsoft

Selected Process Suppliers—Noteworth

Selected Process Suppliers—Pexip

Selected Process Suppliers—Summus Global

Selected Process Suppliers—Synzi

Selected Process Suppliers—Wolters Kluwer

Selected Process Suppliers—Zipnosis

Virtual Care—Impact on the EHR

Growth Opportunity 1—End-to-End Solution for Virtual Care

Growth Opportunity 1—End-to-End Solution for Virtual Care (continued)

Growth Opportunity 2—Develop a Virtual Care Implementation Strategy that Defines the Program and Benefits Offered

Growth Opportunity 2—Develop a Virtual Care Implementation Strategy that Defines the Program and Benefits Offered (continued)

Growth Opportunity 3—Develop Solutions that Ensure Security Standards across All Elements of Virtual Care Platforms

Growth Opportunity 3—Develop Solutions that Ensure Security Standards across All Elements of Virtual Care Platforms (continued)

Your Next Steps

Why Frost, Why Now?

List of Exhibits

Legal Disclaimer

There is no one definition for virtual care, but Frost & Sullivan defines it in this research as a technical platform that maintains an interactive connectivity between patients, providers, and payers where various processes and services may be scheduled, accessed, monitored, and entered into the medical record without the need for manual calls or paper-based actions initiated by the stakeholders. The COVID-19 pandemic has changed the dynamics of healthcare. Requirements to ensure social distancing have transformed virtual care from an important innovation to a must-have model. Although some organizations consider virtual care to be a component of telehealth, Frost & Sullivan concludes that virtual care includes telehealth along with various workflow and clinical processes that are vital but often slowed down by inefficient technology and archaic communications systems. Frost & Sullivan believes that a market-based definition of virtual must reflect the activities of the companies involved. As a result, this report focuses on a virtual care market that includes the following segments: telehealth, telemedicine, clinical processes, and operational processes. The virtual care market includes companies that supply platforms, software, devices, services, advisory services, and analytics. This report reviews the important drivers that are propelling virtual care, and the challenges that must be conquered for virtual care to achieve its enormous potential. This includes the ever-present concerns about privacy and security. The study presents an over view of notable companies in the virtual care space and reviews the types of products and services that comprise virtual visits, remote patient monitoring, virtual care, data gathering, data management, and messaging. Medical devices and equipment currently account for 48% of the virtual care market. Providers of telehealth services and telemedicine solutions who combine service offerings, platforms, software, and other revenue-generating equipment; electronic health record providers; and virtual care specialists also have a foothold. Many early-phase companies are focused on gathering investors or becoming an acquisition target for larger companies seeking to add to their reach in the virtual care landscape. Information and communication technology companies are also targeting this space. Author: Victor Camlek
More Information
No Index No
Podcast No
Author Victor Camlek
Industries Healthcare
WIP Number K537-01-00-00-00
Is Prebook No
GPS Codes 9564-B1,9600-B1,9612-B1,9A47-B1,9A4B-B1