Telehealth ROI: 5 Ways to Profit with Telepresence

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Blake Patrick
8 years ago
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1 Telehealth ROI: 5 Ways to Profit with Telepresence Twenty years ago a trip to the doctor would have been very different than it is today. Just rewind a few years before this paper was written you would find a world without search engines, without medical websites, without online health forums. So what does it mean for healthcare providers that patients are looking at medicine through a different lens? First, hospitals and clinics will find new ways of providing excellent service to their clients. Second, they will find new ways of generating healthy revenue streams in a self-help tech-savvy society. How Can Telepresence Help? Telepresence today is able to achieve just about everything you would find in personal communication except for physical touch. The cameras are so good that each person is represented in a life-like fashion, on a large display monitor, functioning even in low internet bandwidth environments. The audio equipment accompanying telepresence systems reproduces the entire vocal spectrum and beyond. Collaboration tools are built into the software so that users can share documents, images, and applications in real time. Healthcare providers can leverage these benefits to be present with clients, patients, and colleagues even if separated by great distances. Return on Investment Healthcare organizations are businesses like any other, so return on investment is no doubt on your mind. What s the payoff? In the following sections we will get into case examples of how telepresence can bring great returns into your medical business but first, let s define the two types of ROI. Hard ROI Soft ROI This is immediate return on investment that can be easily calculated and measured in tangible money. This is return on investment with extra variables that can be calculated and measured in time saved, new potential business, or other resources not directly linked to money.

So what does it mean for healthcare providers that patients are looking at medicine through a different lens?

Comparison of Telepresence Products 2 Product First Year Costs $10K $20K $30K Vu Telepresence $2999.00 or $199/mo VGo $7195.00 ($5,995.

2 Comparison of Telepresence Products 2 Product First Year Costs $10K $20K $30K Vu Telepresence $ or $199/mo VGo $ ($5, plus $100/mo service contract ) LifeSize Express 220 Cisco Telepresence VX Clinical Assistant Polycom Practitioner TeleHealth Cart $6, $25, $35, In recent times medicare and medicaid have allowed billing for certain telehealth consultations - this has greatly encouraged telepresence adoption. "As a condition of payment, an interactive audio and video telecommunications system must be used that permits real-time communication between you, the physician or practitioner at the distant site, and the beneficiary, at the originating site." - CMS December 2012 Download the Document Here. Visit to learn more about the CPT and HCPCS codes that turn telepresence into profit for your organization.

00 In recent times medicare and medicaid have allowed billing for certain telehealth consultations - this has greatly encouraged telepresence adoption.

3 3 Five Cases for Telepresence New Revenue: Virtual Consultations Not every patient that comes to the office needs to come to the office. Virtual consultations are a great way for physicians and specialists to maximize their billable time or grow their practice by offering virtual consultations. Whether it s an initial consultation or one of a series of check-ups telepresence becomes a vehicle for meeting. Depending on the telepresence solution you choose and the type of consultation offered, virtual sessions can pay for themselves and add new income with just one active patient per week. Cost Savings: Operations Management and Travel Reduction Medicine is business like any other. Managers of large groups must make routine visits to branch offices in order to perform quality checks, supply chain management, project analytics and beyond. Telepresence is an excellent form of communication to keep managers connected to satellite offices and to perform many of these tasks remotely. This reduces lost time during transit, and reduces company travel expenses. Telepresence systems show a return on investment after just a few saved business trips. New Revenue: Scalable Expertise When it comes to specializations, some professionals are less common than others. Scarce resources and coveted expertise can now meet a greater expanse of needs by leveraging telepresence technologies. Be in many places at once. With the broadcasting capabilities of some telepresence solutions, medical experts can host live HD training sessions to groups of observers an added value for practice and patient. Cost Savings: Multi-point Collaboration Patient referrals are key among physicians and specialists. As the industry gets more and more competitive it s important for groups to stay connected. Telepresence solidifies valuable partnerships and opens doors of trust and communication with branch offices. With the built-in collaboration features in telepresence systems, users can share documents and data on a secure video call. A small investment in telepresence will solidify critical relationships for the long term.

Whether it s an initial consultation or one of a series of check-ups telepresence becomes a vehicle for meeting.

4 New Revenue: Cross-Geographical Client Acquisition With the advent of internet technologies, healthcare providers are finding that they can serve beyond their local communities.

4 4 New Revenue: Cross-Geographical Client Acquisition With the advent of internet technologies, healthcare providers are finding that they can serve beyond their local communities. What services do you offer that can be expanded geographically with the help of HD video meetings? "Ironically, about 3 days after I installed a [telepresence] unit in the home office of the Psychiatrist, we had a major snow storm in Maine and he could not travel. Normally this would have meant a full day of patient cancellations. However, we were able to deliver a normal clinic day in which he saw 12 patients, because the Vu Telepresence units had been installed. He saw patients in both of our office locations because it snowed up this way as well, and travel to the clinic site was not the best. He was able to switch between sites with ease. The patients were relieved as well and some would prefer the Vu experience rather than travelling at least 70 miles round trip to see their psychiatrist." -Ron McHugh, LMSW Executive Director, OCMHS How will telepresence fit your Healthcare organization? Every healthcare organization is different from physicians to management to insurance. The examples provided in this guide are ways that companies are finding success and return on investment from telepresence technologies. Sharpen your mind and your pencil to make some quick calculations and see what ways telepresence can make your company more profitable.

"Ironically, about 3 days after I installed a [telepresence] unit in the home office of the Psychiatrist, we had a major snow storm in Maine and he could not travel.

5 This paper is sponsored by Vu Telepresence. "At OCMHS we have 4 Vu Telepresence units. We required some support for two units that are behind our firewall, but two others I installed myself.

5 5 This paper is sponsored by Vu Telepresence. "At OCMHS we have 4 Vu Telepresence units. We required some support for two units that are behind our firewall, but two others I installed myself. I installed one in my residence and one in the home office of our Medical Director. After you use Vu for about 30 minutes and understand how to add contacts, do multi-point conferences, etc., you re all set. The most beneficial feature for us is the capability for multi-point conferences, very cool indeed. This really brings people together. These are great, and hold great potential for small, multi-site organizations. Thanks for your help. You made it all so easy. Much appreciated." Ron McHugh, LMSW Executive Director, OCMHS To learn more about Vu Telepresence please visit For sales inquiries please contact: USA stephen@vutelepresence.com India anuj@vutelepresence.com Other ahmad@vutelepresence.com Vu Telepresence is the full-featured hardware-based HD video conferencing solution with collaboration features. Designed for businesses of all sizes, Vu performs in low bandwidth environments and at costs easy on any budget. Disclaimer: This paper does not intend to advise on HIPAA compliance. Please explore the technologies and laws applicable to your needs.

, you re all set. The most beneficial feature for us is the capability for multi-point conferences, very cool indeed. This really brings people together.

Telepresence vs Video Conferencing Finding the right fit for your business

Telepresence vs Video Conferencing Finding the right fit for your business Telepresence and video conferencing offer many benefits to organizations of all sizes. You don t have to dig very deep to understand