Over the course of 2014, the expansion of health care coverage under the Affordable Care Act has dovetailed with the prevalence of mobile medical technology to create an ideal atmosphere of growth for the telemedicine industry. According to a recent industry report, telemedicine is likely to expand at an 18.88 percent compound annual growth rate (CAGR) between 2014 and 2019. Those tracking industry growth see product innovation as well as a rush to improve the quality and reach of communications.
Thus far, compliance and insurance reimbursement have provided the industry with its greatest challenges. Recently, however, major insurers have begun to offer coverage for off-site patient monitoring and telemedicine consults. Governments in states with widespread rural populations are also becoming aware of what telemedicine has to offer their constituents and are encouraging development efforts on an official level. With the private and public sectors joined, the industry stands ready to take its place as a mainstay of care.