OPERATIONAL EXCELLENCE
Intelligence Analysis: Telehealth As Alternative Revenue Stream
further improve quality, and overcome chal- lenges. These can also create new revenue streams that support such improved quality. Leavitt Partners, a health care intelli-
S
gence business founded by former secretary of U.S. Department of Health and Human Services Mike Leavitt, performed an analy- sis of several of these new revenue streams for Argentum. Through examining market forces and regulatory environment as well as interviews with decision-makers, Leavitt Partners provided a concise guide that se- nior living leaders can use to consider which alternates to pursue. Shared here is a summary composed by
Argentum of Leavitt Partners’ analysis and recommendations on telehealth. Analyses of this and fi ve other alternate revenue streams, including Medicare Advantage approaches, appear in Argentum Quarterly Issue 3, 2019, which is available to members only.
Overview of current and future practices Telehealth is the use of computer and mo- bile devices to access direct or supportive health care services remotely and manage health care. A wide range of options and practices fall under the category, from a remote check-in through a video call to a wearable that communicates basic health signs directly to a database. In senior living, it is shaping up to be a
system whereby providers off er telehealth services within their communities by either contracting with a health system or a tele- health vendor or by developing their own telehealth platform. Providers might off er re- mote patient monitoring (RPM), wearables, health kiosks, virtual memory care exercises,
30 SENIOR LIVING EXECUTIVE JULY/AUGUST 2019
hifting industry trends and regulato- ry change creates new opportunities for senior living to add services,
PROJECTED TELEHEALTH INDUSTRY GROWTH
Telehealth offers opportunity for senior living providers to offer virtual care in their communities.
Numbers for 2016 and after are based on 9.8% compound annual growth rate.
$1,855 $1,682 $2,457 $2,248 $2,061 $2,958 $2,691
$807 $513
2010 $167
$262 2011
$289 $328 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Source: Leavitt Partners; using data from IBISWorld, AARP, Better Medicare Alliance, Senior Housing News, CMS
or telehealth consults and check-ups. Compact agreements, which allow health
care professionals to practice remotely across different states, have faced a few struggles but are being approved in many states. The regulatory outlook is generally fa-
vorable; in fact, the Creating High-Quality Results and Outcomes Necessary to Im- prove Chronic (CHRONIC) Care Act of 2018 specifically provided for increasing telehealth services for Medicare Advantage members.
Potential benefi ts In the Leavitt Partners analysis, telehealth scores highest among the six streams on the x-y axis of ease of implementation and growth potential. Benefi ts include: • Telehealth programs can help improve care coordination among residents and enable better health outcomes
• Telehealth services can help detect health risks, inform proper care delivery, and re- duce the number of resident move-outs to other care settings
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