With ACA, Telemedicine In 'Perfect Storm' For Coverage

As more Americans gain medical coverage and more health insurers reimburse for telemedicine consultations, companies like MDLive are prepared to take off.

In an interview at the 2014 Forbes Healthcare Summit, MDLive chief executive Randy Parker talked about how his company is poised to take advantage of new payments as well as growing consumer interest for remote access to medical care services.

“We are at a perfect storm,” said Parker in the interview, which can be viewed below in its entirety. “We are at a point where both technology and payers who are providing reimbursement have accepted the fact that there is an inflection point. The use of telemedicine today is a requirement to provide more efficient access to care.”

Founded in 2009, MDLive is part of a booming industry.  A report earlier this year from information and analytics firm IHS says revenue expansion of the telehealth – which allows providers of medical care to monitor patients remotely via various devices, computers and related digital technology – will grow to $1.9 billion in 2018 from $240 million this year.

Increasingly, large insurers like UnitedHealth Group (UNH), Cigna (CI), Aetna (AET), Humana (HUM) and Blue Cross and Blue Shield plans are becoming more open to telemedicine coverage and related remote patient monitoring.

Wondering how the Affordable Care Act will affect your health care? The Forbes eBook Inside Obamacare: The Fix For America’s Ailing Health Care System answers that question and more. Available now at Amazon and Apple.