Telemedicine to save money for health care and boost the economy

Dr. Robert Litan, author of “Vital Signs via Broadband: Remote Health Monitoring Transmits Savings, Enhances Lives,” stated that “of the thirty companies in the Dow Jones, eighteen of them were started in bare economies.” Litan used this as reason to investigate significant enhancements in health care technologies, even though we’re in a global economic downturn. Tom Ferree of Connected Nation said that forming new companies and commercializing new technologies will help economies get out of recessions, and that new ‘telemonitoring’ remote health care technologies are one way to do it.

Dr. Litan believes the United States could cut $197 billion form its health care bill over the next 25 years though ‘telemonitoring’ a new technology that transmits vital health information and video of people with chronic diseases to remote health care experts. The four main diseases this would target are congestive heart failure, diabetes, chronic obstructive pulmonary disease (COPD), and chronic skin ulcers (or skin wounds). Dr. Litan said, “especially for seniors, this is better than going to a doctor or a nursing home. Today approximately 17% of home health health care agencies have adopted this technology.”

In order to fulfill these savings for the government, Dr. Litan stated that there must be systematic change in public policy, such as insurance reimbursement policies for doctors through Medicare and Medicaid. Dr. Litan said, “we also need policies that deliver broadband, including ‘smart networks’ that ensure that patients’ critical data is secure and that communications are not disrupted.” If this systematic change were to occur, Dr. Litan believes that “remote monitoring can spot health problems sooner, reduce hospitalization, improve life quality and save money.”

'Telemedicine' to save money through insurance company reimbursements

Dr. Robert Litan, author of “Vital Signs via Broadband: Remote Health Monitoring Transmits Savings, Enhances Lives” explains what needs to be done to allow 'telemedicine' to save the government billions of dollars. (0:57)