The Covid-19 pandemic is pushing telemedicine to the forefront of the hard-hit health-care industry.
In March 2020, the Trump administration lifted Medicare requirements for telemedicine visits to make it easier for patients and doctors to use the technology. That also allowed more providers to accept Medicare payments for virtual visits.
Over the past decade, telehealth, a broader term used to define all medical services and health education delivered digitally, has grown steadily as an industry. According to Global Market Insights, the market size in 2019 was around $45 billion and is projected to grow to more than $175 billion by 2026.
Before the coronavirus pandemic, Americans were slow to pick up on the virtual trend. Now, social distancing measures at doctor’s offices and hospitals could push telehealth interactions to 1 billion by the end of 2020.