The future of the healthcare industry will be shaped by a range of disruptive themes, with virtual care and telemedicine being one of the themes that will have a significant impact on healthcare companies.
Virtual care is the intersection between digital technologies and healthcare delivery systems. By integrating new and existing digital technologies such as telehealth, connected medical devices, remote monitoring, mobile device apps, and electronic health records, healthcare systems can expand their services to patient populations whenever and however is most convenient to each individual patient.
The virtual care space includes a rich ecosystem of players across the telehealth and remote patient monitoring segments. Telehealth is the capability to perform healthcare visits, check-ups, and drug prescription acquisitions over live chat, video, or telephone.
Remote patient monitoring technologies enable healthcare systems to track patients’ vital signs and biomarkers in their own homes. One example of this is the daily monitoring of blood pressure, weight, and blood sugar levels that are transmitted to a physician for continual tracking without requiring a patient to appear physically in the physician’s office.
However, not all companies are equal when it comes to their capabilities and investments in the key themes that matter most to their industry. Understanding how companies are positioned and ranked in the most important themes can be a key leading indicator of their future earnings potential and relative competitive position.
According to GlobalData’s thematic research report, Virtual Care & Telemedicine in Healthcare, leading adopters include: AMC Health, Amwell, BIOTRONIK, Boston Scientific, Cerner, Cleveland Clinic, Medtronic, and One Medical.
Insights from top ranked companies
One Medical is a membership-based primary care offering that is engaged in providing healthcare services. One Medical provides both in person and virtual care visits, for which it charges an annual fee to patients who wish to access the service. Through offering direct-to-consumer services, One Medical is well-positioned to gain brand loyalty for both it’s in person and virtual care offerings.
The Cleveland Clinic is a non-profit, multi-speciality medical organisation clinical and hospital care services. It operates through a network of hospitals and clinics. Cleveland Clinic’s network of facilities includes regional hospitals; regional care centres; a children’s hospital; research labs and facilities for pathology and cancer, eye, heart and urologic care. Cleveland Clinic has various speciality and sub-speciality departments, providing services in the areas of dermatology, oncology, paediatrics, pain management, ophthalmology, orthopaedics, and respiratory among others. It has presence in Florida and Nevada, the US, Canada, Abu Dhabi, and the UAE. Cleveland Clinic offers its virtual services through its telehealth platform, Cleveland Clinic Express Care. Cleveland Clinic is well positioned to compete in the telehealth space post-pandemic due to awareness of its brand around the world and its network of provider locations.
To further understand the key themes and technologies disrupting the healthcare industry, access GlobalData’s latest thematic research report on Virtual Care & Telemedicine in Healthcare.
- Ping An Insurance
- Tata Consultancy Services
- Munich Re
- Walgreens Boots Alliance
- HCA Healthcare
- Assicurazioni Generali
- Quest Diagnostics
- CVS Health
- Kaiser Permanente
- Molina Healthcare
- CommonSpirit Health
- Apollo Hospitals