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Using Telemedicine to Increase Hospital Revenue
Telemedicine has grown dramatically in the past few years. Not only has it provided benefits to consumers, but it’s now proving to address a hospital’s key objective: boosting the bottom line.
Telemedicine has grown dramatically in the past few years. Not only has it provided benefits to consumers, but it’s now proving to address a hospital’s key objective: boosting the bottom line.
According to a recent study in the journal Telemedicine and e-Health, hospitals that utilize telemedicine technology and referred patients to other hospital facilities, specifically children’s facilities, saw their revenue significantly increase.
The research looked at 16 hospitals’ billings before and after they implemented telemedicine tools. The results were astounding. Before the implementation of telemedicine, the 16 hospitals recorded 143 transfer patients. After deployment the number jumped to 285. Transfers didn’t just soar, so did revenue, going from $2.4 million beforehand to $4 million afterward.
