Selling the Return on Investment for Digital Health
Background: Advancing digital health requires a realistic conversation that moves past innovation and evaluates digital tools the same as any other device being introduced into the health system. There needs to be a focus on return on investment. Methods: As part of a symposium, we presented hypothe...
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| Main Authors: | , , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Mary Ann Liebert
2025-01-01
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| Series: | Telemedicine Reports |
| Subjects: | |
| Online Access: | https://www.liebertpub.com/doi/10.1089/tmr.2024.0069 |
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| Summary: | Background: Advancing digital health requires a realistic conversation that moves past innovation and evaluates digital tools the same as any other device being introduced into the health system. There needs to be a focus on return on investment. Methods: As part of a symposium, we presented hypothetical pitches to an expert panel. The experts include representatives from health systems, payers, and investors. The pitches were related to remote patient monitoring, tele-triage in the emergency department, and comprehensive in-patient telemedicine program including virtual sitting and e-nursing. Results: Although each pitch led to a different discussion, there was uniform agreement that health systems should focus on whether the proposal helps solve an institutional problem; the payment model in which the product can be used (value-based, fee-for-service, or both) needs to be identified; fitting the new product into preexisting workflow (included electronic health system integration) is critical; there needs to be an understanding of whether patients and providers engage with it; and there needs to be a clear return on investment. Discussion: Navigating complex decision-making in health care requires a blend of strategic foresight, practical considerations, and a deep understanding of organizational dynamics. Rather than a specific strategic plan focused on digital or virtual care, there should be a focus on the enterprise strategic plan and how can digital enable that. |
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| ISSN: | 2692-4366 |