Going virtual could equate to a big shift in spending in healthcare services. Consumers continue to embrace virtual health, and with ongoing investment in innovation, we estimate that around $250 billion in outpatient spend could potentially be shifted to virtual settings for home health services, office visits, and urgent care.
Image description:
A large square tree map represents the total outpatient, emergency department and home health spending in the United States. The tree map is broken into two areas: the larger area is nonvirtualized healthcare at around $1 trillion, and the smaller area (and focus of the exhibit) is virtual healthcare at $247 billion. The $247 billion box is further broken into smaller boxes proportionate to their dollar value, representing virtual healthcare areas such as urgent care, virtual and near-virtual office visits, virtual home health visits and home medication administration spending.
An additional area examines each of these subsets of the $247 billion in spending. The percentages of outpatient, emergency department and home health subsets can be enabled as colored circles within larger 100% circles, and show that virtual home visits have the most immediate potential.
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To read the article, see “The next frontier of care delivery in healthcare,” March 24, 2022.