Telehealth News Recap - February 2023
It can be tough to keep up with the latest news in the virtual care space. Wheel's Virtual Care News is a monthly newsletter for stakeholders in the digital health industry. As a subscriber, you'll receive timely information on trending news, regulatory updates, engaging conversations, and key innovations emerging in the space.
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We know balancing virtual care supply and demand in an economic downturn can be challenging. That’s why we obsess over how to provide the highest quality care in the most efficient way possible.
If your organization is looking to cut operating costs while continuing to serve a broader audience, check out this case study about a national healthcare company who provides comprehensive hybrid care. In just over seven months, we helped them save 93% per patient visit and more than $1.2 million.
Trends & Insights
Study Shows Telehealth Has Saved Millions and Reduced Carbon Footprint
A study from UC Davis Health found that the uptake of telehealth during the first two years of the COVID-19 pandemic improved patient outcomes and led to noticeable financial and environmental benefits, largely due to the cut in carbon footprint associated with virtual visits. This change resulted in saving over 53 million miles in travel distance and over $22 million in travel costs.
How Has Healthcare Utilization Changed Since the Pandemic?
The stock market has been shaky, mortgage rates are up, and inflation is hovering uncomfortably high. Instead of shying away from the economic uncertainty facing our industry, in this report, Rock Health identifies 5 themes emerging and gives actionable steps for weathering the storm.
KFF Healthcare System Tracker >
Policy & Regulatory Updates
Omnibus Spending Bill Contains Roadmap for Hospital at Home
Hospital-at-Home (HaH) has been piloted across the world and in the U.S. for over 40 years, but the model hasn’t achieved scale in the U.S. due to not being reimbursable by commercial and federal payers. The PHE pandemic waiver removed this barrier, and now Section 4140 of the omnibus package will continue to waive regulatory requirements until the end of 2024 allowing patient homes as eligible “originating” sites for telehealth services.
Telehealth Allies to Helm Key House Panels
Rep. Cathy McMorris Rodgers, R-Washington, was selected as the head of Energy and Commerce and Rep. Jason Smith, Missouri, will helm the House Ways and Means Committee. Both panels have major jurisdiction over health care issues and both lawmakers have been staunch advocates for extending telehealth services.
First Opinions & Engaging Conversations
Can Tech Revolutionize Healthcare?
The healthcare industry faces massive challenges this year, from a nursing shortage to leaner budgets. Experts shared how technology addresses the field’s most daunting issues — from virtual reality that helps train clinicians for surgery to AI that enables patients to receive critical information faster.
Three Trends That Advance ‘New Normal’ in Healthcare
George Valentine of Cox Communications says the entire patient experience is becoming more “digital-forward.” While he sees telehealth as the tip of the iceberg in healthcare’s digital transformation, he views adoption of telehealth as the key to market positioning. In this interview, Cox discusses the growth of remote patient monitoring and specialty-focused platforms, as well as the staying power of virtual care.
Growth & Innovation
Industry Growth Roundup
Here are a few innovative collaborations and expansions that we think signal growth and longevity for virtual healthcare.
Carbon Health secures Series D and becomes largest primary care provider in U.S.
Amazon launches $5 month subscription plan to deepen push into healthcare.
Dollar General teams up with DocGo to pilot mobile health clinics in store parking lots.
Hinge, a physical therapy platform, adds house calls to improve value of virtual care.
Avanlee Care teams up with Walmart to offer app that supports unpaid caregivers.
📽️ VIDEO: Wheel Wants to "Fundamentally Rethink Healthcare Delivery Systems"
Fortune Magazine interviewed CEO Michelle Davy about the early days of Wheel, how Wheel’s mission honors the sacrifices her parents made, and how Wheel is staying focused through the economic downturn.
“I would tell investors, this mission is going to take ten years to realize so you’ve got to be with me for the long run. That scares a lot of venture... Then literally months after raising our Series A, the pandemic happened and our phone started ringing off the hook." - Michelle Davey
Wheel Welcomes Vincent Balsalmo as Chief Revenue Officer
We’re excited to welcome Vincent Balsalmo to our executive team. Vince has over 25 years of experience in tech and healthcare. He has built and led high-performing commercial and revenue teams at both global Fortune 100 companies and early stage start-ups. Most recently, he served as Executive Vice President of Global Enterprise Sales at AliveCor where he developed an enterprise sales methodology focused on driving business growth across health plan, health system, biopharma and employer clients.
"What attracted me to Wheel was the company's ability to enable access to care at scale through its white-labeled technology and nationwide clinician network. By starting more care online, healthcare organizations can bring their services to even more patients – at any time, from anywhere, and on their own terms." - Vincent Balsalmo