Telehealth News Recap - January 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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2023 is here and so are the predictions. While digital health leaders and telehealth advocates are bracing for a year of revenue volatility and moving targets, the industry continues to innovate for a patient-first future.
We've rounded up a few worthy forecasts, an insightful conversation with policymakers, and a video featuring four healthtech founders who "dared to think differently" including our very own co-founder and CEO Michelle Davey!
Trends & Insights
📽️ VIDEO: Vitals “Check-up” on the Future of Healthcare Policy
72% of consumers believe that the quality of care from a virtual visit is as good or better than an in-person visit, says CVS Health senior vice president of retail health, Dr. Creagh Milford. Axios reporter, Caitlin Owens also talks with Rep. Cathy McMorris Rodgers (R-Wash.) about delinking telehealth policies from PHE policies and Rep. Mike Thompson (D-Calif.) about partisan barriers to moving telehealth policy forward.
2023 Look-Ahead: Boring Is The New Black
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.
Policy & Regulatory Updates
State Requirements Continue to Evolve
States see the value of telemedicine for patients and providers. Many have made permanent changes to their telehealth policies. Along the way, they are learning the nuances of equity, privacy and utilization.
Omnibus Bill Extends Some Telehealth Policies
Congress voted to extend PHE telehealth policies for two years and appropriated $350 million in flexible funding for public health infrastructure which is a 75% boost.
First Opinions & Engaging Conversations
Health Plans Need To Do Better When It Comes to Care Navigation
62% of Americans don’t trust their health plan when it comes to finding care, a Ribbon Health survey found. Providing more accurate information on provider directories could repair this trust.
AMA: Reducing Physician Burnout Must Be Urgent National Priority
Physicians face a “tripledemic” this winter on top of mounting regulatory obstacles, Medicare payment cuts and staffing shortages. AMA calls on policy makers to address physician burnout at a systemic level to avoid dire consequences.
Growth & Innovation
What 2023 Holds for EHR Optimization, Equity and More
Healthcare AI expert, Susan Taylor, says consumerism is the heart of the matter when it comes to patient outcomes. While technology leaders focus on automation and interoperability to manage admin costs, Susan says digital consumer engagement in healthcare is emerging as a cost-effective strategy for innovation.
2023 Forecast: Why Digital Health is Ripe for New Wave of M&A
Experts say consumer demand is causing the industry to shift away from point solutions to platform solutions. Traditional health systems are using language like “omnichannel” and “click and mortar.” Digital health is working toward “end-to-end integrated platforms.” All signs point toward hybrid, virtual-first care.
33 Healthcare Startups Investors Expect to Take Off in 2023
Wheel was featured as one of 33 healthcare and biotech startups investors expect to take off this year. Investors also shared predictions that 2023 will be defined by new ways to use AI and a surge of health insurance startups.
📽️ VIDEO: 4 Founders Who Dared to Think Differently
Wheel CEO, Michelle Davey, was selected to take part in the "4 under 40" panel at the 2022 HLTH Conference. Watch what HLTH called proof "the next generation of health leaders will leave an indelible mark with their sheer passion, grit, and technological savviness.”