Telemedicine industry –a multimillion dollar has got a boost with new law lifting up some of the toughest restrictions in the nation.
A new law signed by Gov. Greg Abbott opens a huge market that could potentially connect millions of Texans to doctors who can now diagnose patients more easily by video chat.
The new Texas law was written to address the shortage.
It took 6-year of a legal battle between the Texas Medical Board, which cited concerns about insufficient patient care, and Teladoc, a national leader in telemedicine.
3 million Teledoc customers
Teladoc has more than 20 million customers nationwide, including 3 million in Texas. Teladoc has spent about $13 million in legal fees alone in the fight. Texas currently dwells near the bottom of the nation in per-capita access to a physician, ranking usually between 46th and 48th.
Flip the switch
But it is more than just patients who stand to gain from the new Texas law.
The new virtual service started from June 1 by HealthTap requires $99 monthly subscription for unlimited consultation with no insurance coverage. It facilitates one-time chat starting at $49 depending on the doctor.
Teladoc offers its services through insurance plans and does not include a direct-to-consumer option.
American Well also started its service from June 1st with its direct-to-consumer app – Amwell. This service is covered by some insurance plan or can be bought for $59 per visit.
Care at retail stores
A mobile health-care network service provider Hello Alvin is offering prepaid access to medical care at retail stores. It facilitates unlimited online or phone access to health professionals at selected stores for $100 per year for entire family and $45 for video chat.
Hello-Alvin sees enormous opportunity while Teladoc has forecasted almost 50% increase in revenue trough these Texas law.
Though the law is touching the under-reach are the concern remains that it is not a cure-all. It also will do little to curb the uninsured rate in a state that already leads the nation. Also, if the subscription is too expensive or comes only through insurance plans, then the uninsured in Texas will again be left out.
“I think the day has come when every little town cannot expect a bricks and mortar hospital,” Dickey said. “But we have to find a way to not only get them access to care but quality access to care.”
Date: June 19, 2017
Image Credit: crainsdetroit.com