NetworkNewsWire
Editorial Coverage: Nature’s impact on health care can’t be
overstated in light of the nation’s recent spate of natural
disasters that have battered Texas, Louisiana, Florida and
California. Residents in these states face incredible challenges
when it comes to finding proper medical care, but it’s not just
during times of natural disaster that people need access to quality
health care. It is also an everyday problem for millions of
Americans living in rural regions designated as “medically
underserved.” Telemedicine offers solutions that can make a
significant difference to location-based health care challenges by
offering access to services regardless of an individual’s location.
Several companies offering telemedicine solutions are
Medical Innovation Holdings, Inc. (MIHI) (MIHI
Profile), Teladoc, Inc. (TDOC), Cigna Corporation (CI), Anthem,
Inc. (ANTM) and UnitedHealth Group, Inc.
(UNH).
In its 2017 Leadership survey, The American Telemedicine
Association (ATA) reported an increasing demand for telehealth care
services, with 98 percent of telemedicine executives stating that
organizations offering telemedicine have a competitive advantage
over those that do not (http://nnw.fm/29NLg). The report, based on 171
respondents in executive leadership positions representing
telehealth service providers, health care practices, and hospital
systems, offers an overwhelmingly optimistic view for the future of
the telehealth industry. This positive attitude is based not on
wishful thinking, but on the undeniable fact that patient-centered
health care and electronic health record (EHR) interoperability is
becoming a critical piece of the nation’s health information
network.
In its “State of Telemedicine Report Reassessed for
2018,” health care brand strategy consulting and marketing
communications firm Brandigo also reports that telemedicine is one
of the fastest growing sectors in the overall health care market.
The industry is on track to grow from $25.5 billion in 2015 to
$57.92 billion by 2020, with a compound annual growth rate of
nearly 18 percent over the next five years (http://nnw.fm/G7mxa). Educating patients on how to use
this valuable resource will make a sizeable difference in how fast
and how far the industry grows.
Colorado-based Medical
Innovation Holdings (MIHI) is quickly becoming a vital
part of this expanding virtual health care industry. MIHI owns and
operates strategically aligned health care service companies
focused on the delivery of clinical virtual medicine, also known as
telehealth and telemedicine. Through its wholly owned subsidiaries,
MIHI provides personalized high-tech, high-touch telemedicine
encounters pairing its virtual health specialty doctors with
primary care physicians. This synergy of forces includes the use of
nextgen virtual health technologies that connect a patient with a
multi-disciplinary specialty clinical health care practice
(http://nnw.fm/c1Gyd).
MIHI also provides ancillary products and services that improve
health, provide product choices, and increase engagement and
revenue. These services include lab, nutraceuticals, prescriptive
medicine, and remote diagnostic support. The company’s recent
launch of Telemedicos USA, a Spanish-language health care platform
positioned to address the 58 million Hispanics living in the United
States, is addressing another immediate, glaring health care need
(http://nnw.fm/Aap7E), and demonstrates the
company’s ability to recognize a market opportunity and execute a
plan to meet industry demand.
“This was a natural evolution for us. We purposefully positioned
MIHI for this market because we understand the nuances of providing
services to such an ethnically diverse group that make up the
Hispanic community,” MIHI CEO Jake Sanchez stated in the news
release. “We have a Mexican-American CEO, two of our three board
members are Hispanic (Mexican American and Colombian), and some of
our largest shareholders are Panamanian, Puerto Rican and Cuban. We
know the Hispanic community, and the community knows us.”
Telemedicos USA will use primary care, on-demand telemedicine
services to provide unparalleled access to health care, including
pharmaceuticals, alternative medicines and patient portals to
create a cloud-based electronic medical record that effectively
“travels with the patient.”
MIHI’s vastly different approach stands out from a growing field
of telemedicine providers by delivering virtual telemedicine with a
unique, customized software and hardware platform. Through its MSO,
3PointCare, MIHI’s telemedicine approach is unlike other providers
who rely on a monthly subscription with patients required to pay an
encounter fee every time an on-demand physician is utilized. Under
that approach, the continuum of care is broken, insurance may not
be accepted, symptom-based diagnoses are the only reference, and
there is no certainty the patient is being cared for by a licensed
practitioner, changing the relationship from an actual medical
practice to a contract service delivering virtual care.
Under MIHI’s visionary approach and through its 3PointCare,
doctors are deployed through an established medical practice
without requiring a subscription fee. The company works with anyone
covered by insurance, including Medicare and Medicaid, in a
partnership with the patient’s primary care physician. Deductibles
can be captured, which allows patients to take advantage of medical
tax deductions, since MIHI utilizes an integrated software
application that enables the processing of insurance claims so that
doctors are paid for their services.
The company’s TeleLifeMd, a multi-disciplinary specialty health
care practice with strong experience in telemedicine, primarily
delivers patient medical care, while 3PointCare has a unique and
exclusive relationship with the service. It is a well-rounded,
reliable method of providing all levels of service needed by a
medical practice seeking telemedicine options. From providing
telemedicine hardware and software products and support, to
processing claims, paying all invoices and payroll incurred by
TeleLifeMd, as well as any other service required to operate the
practice, the continuum of care remains unbroken providing a
critical connection between patients, medical providers, and health
care specialists.
Another telehealth company opening its virtual doors to patients
is Teladoc (TDOC). The company’s network of more
than 3,100 members delivers on-demand health care to millions of
patients via mobile devices, the Internet, video and phone. Teladoc
members recently announced free consultations to victims of
Hurricane Harvey, whether they were members of the service or not.
The company said in a press release it would provide non-emergency
medical care to those people displaced from their regular doctors
and routines (http://nnw.fm/272lJ).
The idea that large health care organizations can offer
real-time help through telemedicine is taking shape in other ways.
Cigna (CI), one of the nation’s largest
managed-care organizations with a little over 14 million medical
members, recently reached out to victims of the mass shooting in
Las Vegas, offering online support services for anyone affected by
the tragedy in any way (https://www.cigna.com). Cigna typically provides
health insurance services to individuals mainly through the group
or employer market. Cigna is a leader in the commercial self-funded
fee market and participates in other insurance and retirement
businesses.
Prior to the approach of Hurricane Irma in September,
Anthem (ANTM) announced that it would also offer
free online medical and psychological visits to anyone impacted by
the natural disaster (http://nnw.fm/jikF8). With approximately 40 million
members, Anthem is one of the largest managed-care organizations in
the United States. The company provides health insurance services
to more than 74 million people through its affiliated
companies.
UnitedHealth Group (UNH) provides health
insurance services to about 46 million medical members. The company
provides health insurance services to its members through products
for every major insurance market and delivers back-office services
to providers through its Optum segment. UnitedHealth Foundation
supports telemedicine services through a variety of methods,
including offering grants to community initiatives developing new
health care technologies (http://nnw.fm/3yW13).
Telemedicine continues to be one of the fastest growing sectors
in the overall health care market, with most employers either in
the planning stage of offering the service or already providing it
to employees. This type of health care delivers new options to
patients via a virtual encounter with qualified medical
professionals. Telemedicine allows patients to have a continuous
conversation with their primary care physicians, keeping patients
more satisfied, while enabling physicians to gain a greater share
of health care revenue. Online consultations with specialty care
physicians are another important benefit of the rise in
telemedicine, as are what some may call “curbside” consults for
patients living in extremely rural parts of the country, according
to an article in Forbes (http://nnw.fm/j7fSN).
Reducing the cost of health care while simultaneously increasing
the quality of care and improving access to health services for
millions of people will take a unique, forward-thinking vision made
possible by companies that are strategically forging ahead as
telemedicine pioneers. Natural disasters aren’t the only time when
telemedicine is destined to shine. It is in the everyday,
individual approach to helping people live better, healthier lives
by connecting them with medical providers who want to take a more
comprehensive, continuous role in patient care.
For more information on Medical Innovation
Holdings, please visit: Medical
Innovation Holdings (MIHI)
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