Some info about Telehealth and recently announced

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OnDoc offers affordable, accessible healthcare services and products that can relieve the stress of time and money when it comes to getting the care you need.

The average family of four spends $2,347 a month on healthcare costs.
75% of all doctors’ visits can be handled effectively on the phone or through video chat.
Patients spend 121 minutes per doctor visit; 84 minutes in the office, and 37 minutes in travel time.
The number of people turning to telehealth services is rapidly increasing.
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The telehealth industry is forecasted to grow from $10 billion to $20 billion dollars in the next few years. It’s staggering to think where we will be in the next five years as people experience the benefits technology has made possible with 24/7 access to top notch medical professionals without the commute, added office expense, or the long wait time. At OnDoc we are confident that we are here at the right time and with the right opportunity.

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A recent report is projecting that the global telemedicine market will expand from its current $38.3 billion valuation to $130.5 billion by 2025.

According to the study by Global Market Insights, this 19.2 percent compound annual growth rate (CAGR) will be largely fueled by worldwide telecommunication network developments, market opportunities in rural areas or those without easy access to healthcare services, and the continuing integration of healthcare and IT market sectors.

However, inconsistent reimbursement for telemedicine services and little awareness of telemedicine among developing economies will hamper some growth opportunities.

The report offers a breakdown of individual telehealth use cases and global markets. For instance, it anticipates a 18.9 percent CAGR for the teleconsultation services market, while predicting that the telehospital market will reach a total value of $85.3 billion by the end of the forecast’s timeframe. Meanwhile telemedicine as a whole is set to reach a $64.1 billion 2025 valuation within the US alone, according to the report, although China and India are also expected to grow at 23 percent CAGR and 22.4 percent CAGR, respectively.

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