The report finds that tele-home care is at the core of healthcare transformation efforts being implemented by the federal and local governments in major Western European nations and in Canada. Ongoing government funding of pilot programs and investments in telecare and telehealth projects, and reimbursements from private insurers will constitute the major sources of revenue for the tele-home care market going forward.
"Regulatory authorities believe remote home health monitoring solutions provide an opportunity to make care delivery more efficient without reducing the overall quality of care," said Harry Wang, senior analyst and author of the report. "However, such programs face significant challenges."
Wang explains that although some pilot programs have produced promising results, two key conditions have yet to be fulfilled. First, governments have so far failed to establish permanent reimbursement mechanisms for these solutions, and second, public and private constituents have not reached consensus on the most feasible business models.
"The expansion of the tele-home care market is predicated on making consistent progress on these two fronts over the next five years," Wang said.
