As the healthcare industry works to prepare for the quickly-approaching Centers for Medicare & Medicaid Services (CMS) value-based payment care models in 2020, cutting-edge innovative solutions have begun to surface, raising their hands to serve as the go-to solution for payers and providers as they transition to new, uncharted reimbursement model and care territory.
Telehealth services, in particular, have come to the forefront of the bustling digital solution market, with CMS unveiling its plan to expand telehealth coverage and access in Medicare Advantage (MA) plans in April of this year. While current guidelines require MA members to live in federally designated rural areas to receive coverage for telehealth care, new guidelines allow reimbursement for virtual appointments and remote patient monitoring and aim to increase the geographic expansion of telehealth beneficiaries.
While new rules have exciting prospects for telehealth companies, the possibilities are endless for various stakeholders in the healthcare industry, and other industries as well. With 76% of U.S. hospitals connecting with patients and practitioners through the use of video and other technology, players outside the healthcare market such as Best Buy elbowed their way into the promising market as well, with the acquisition of GreatCall. Digital therapeutic startups and health technology startups should also pay close attention as opportunities arrive for their solutions and services to be covered under new and upcoming CMS rules and CPT codes.