How to Maximize Revenue with Telemedicine?

Due to the urgency of expanding technology to help patients who need routine care and keep vulnerable patients in their homes while maintaining access to the care they need, CMS broadened access to telemedicine services effective March 1, 2020.

CMS and specific private payers are paying the same rates for virtual care as in-person care. Healthcare organizations are expanding telemedicine initiatives due to the pandemic waiver. The shift from in-person to virtual medical care for specific patient services will permanently expand revenue opportunities.

The critical question you need to ask is whether your organization is ready and able to move forward with the telemedicine reimbursement model. In diverse areas with tech-savvy seniors, use telemedicine for full patient visit documentation.

Many areas have travel challenges for patients to see providers at practices or hospitals. Telemedicine is popular due to its advantages and access to high-speed internet.

Some patients needing a specialist’s care must drive long distances and invest a lot of time for each visit. Telemedicine allows patients and their primary care physicians to leverage the expertise of specialists who are not nearby.

Telemedicine can help generate higher revenue through an increased patient base and also help serve the local communities more effectively. It enhances the ability to provide secondary services to patients, such as testing, imaging, and other ancillary services. With the latest imaging and optics tech, providers can use telemedicine for differential diagnosis. Some of the specialty-specific examples of telemedicine services are listed below: