Considering the age of clicks and swipes, we are in a world surrounded by screens. Virtual Assistance has become a part and parcel of our lives. The increasing dependency on virtual platforms due to the COVID-19 pandemic has opened doors of opportunities for virtual visits worldwide. Within the forecast period 2020 to 2029, the U.S. virtual visits market is likely to gain momentum owing to the increasing adoption of high-end audio-video technologies. Additionally, the increasing use of smartphones, tablets, and laptops, coupled with the strengthening of network infrastructure such as 4G and 5G will aid in expansion of the market. Furthermore, the rising demand for personalized and specialty care in the healthcare sector will also augment growth of the market for virtual visits in the U.S.
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Virtual Visits are generally categorized into the following healthcare service types:
• Behavioral Health
• Urgent Care
• Cold and Flu Management
• Preventive Care
• Chronic Care Management
The increase in patient pool and adoption of telehealth in clinics and hospitals are the key factors adding boost to the growth of the U.S. virtual visits market. Various companies operating in this market are engaging in merger and acquisition, and investing in research and development, among other strategies to gain an upper hand in the market competition. For instance, a leading telehealth company namely, InTouch Health was acquired by the virtual healthcare company called Teladoc Health Inc. in July 2020 for collaboratively dealing in telemedicine and virtual visits. The other players are engaging in product innovation and other strategies to gain competitive edge.
Virtual Visits – No Risk Only Gain
Although the latest trends and developments of telehealth services have gained popularity due to its contactless services, virtual visits are not covered by insurance. They do not fall under any health plan or provider and can only be accessible via a designated virtual network provider. On the positive side, the fact that the patient population can get access to proper medical aid without any risk of infection, and get access to easy patient history via remote monitoring will bode well for the market in the near future.
Just like Jamie Notter said, Innovation is the change that unlocks new values, the imposition of social distancing and safe distance due to COVID-19 has unlocked new values to telehealth and other cutting-edge innovations in the U.S. virtual visits market.
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