Critical Factors of a Telehealth Business Framework

SUMMARY:

Simply having new technologies does not guarantee business success
A variety of business models are used within the telehealth industry
Four major themes with several subcategories are necessary for an effective telehealth business framework.

THEME #1: Value.

Value is the total benefit a user attains by the telehealth product/service.
- This includes clinical and financial value
A multistage assessment is needed , which includes:
- Risk management
- Feasibility analysis
- Market analysis
- Stakeholder feedback
Pricing: Different pricing strategies should be used for different stakeholders
- The days of a simple licensing fee is over
- Options include:
  - Pay as you go
  - Subscription models
  - Buffet Models
  - Micro Payments

THEME #2: Technical and Non-Technical Factors

Technical Factors:
- Interactions between client and the telehealth platform for both hardware and software
- Decision to develop which platform provides the best medium to deliver value.
Non-Technical Factors:
- Consideration of the impact of government regulations
- Clinically validated solutions for clinicians
- Availability for remote areas helps save on travel costs and time and provides access to healthcare

THEME #3: Challenges of a Telehealth Business

Business Related Challenges:
- Lag time between idea generation and use in patients
- Ambiguity in intellectual property rights
- Inadequate support for key figures
- Lack of teamwork
Product Related Challenges
- Lack of adequate product assessment
- Lack of appropriate reimbursement
- Lack of business planning
- Lack of clinical acceptance

THEME #4: Barriers of a Telehealth Business

Success of a telehealth business depends more on change management and clinical acceptance than the technology
Pricing mechanisms should be transparent and follow an appropriate methodology