Can Virtual Health Make a Profit?

Leaders need to develop a sound business case for virtual care. How can health systems make these platforms both scalable and sustainable?

During these uncertain times, health systems won’t embrace new technology unless there’s a firm understanding of ROI attached. Healthcare leaders need a good, sound business plan to move forward.

This is especially true with virtual care, which was the sweetheart of the rodeo during the pandemic, when providers needed to reduce pressure on hospitals and patients wanted to access care from home. Federal and state regulators even reduced telehealth restrictions to allow more access, and payers like CMS relaxed their rules to reimburse for more virtual care services.

But now that the pandemic has passed, the pendulum has swung back. Many COVID-era waivers have expired, patients are expressing a desire to see their doctors in person, and healthcare executives are tasked with revising or even redefining how virtual care services can be sustained and scaled.

So how do health systems and hospitals define the ROI of a telehealth platform or digital health tool in this day and age? Clinical outcomes, provider workflows and workforce shortages are all part of the recipe, but there also has to be a financial benefit. Can all of these interests co-exist in a business plan?

HealthLeaders takes a a deep dive into that issue in this week’s The Winning Edge. Tuesday’s webinar, “Increasing Your Business Footprint Through Technology,” takes place at 1 p.m. ET, and will feature insights from David Higginson, EVP and Chief Innovation Officer at Phoenix Children’s Hospital, and Stephen Hunter, VP of Digital Strategy and Innovation for the Allegheny Health Network, part of Highmark Health.

Please join us as we discuss the challenges and benefits of a virtual care strategy that is both sustainable and scalable. Register here.