Capital Group Holdings, Inc (CGHC)

[nyctraydr]

Telemedicine: A (Partial) Solution To Healthcare Problems

Mar 26 2013, 08:32

Telemedicine use is on the rise. According to GlobalData study, the worldwide telehealth and telemedicine market will grow at a compound rate of 14 percent between 2011 and 2018 to $32.6 billion.

A major driver of the telemedicine market is the nationwide shortage of medical specialists, including radiologists, neurologists, dermatologists, even primary care physicians. These shortages will only grow more acute as the Affordable Care Act brings millions more potential insured patients into the national healthcare system. Doctor's office and emergency room visits are the most expensive ways to monitor and care for these chronic conditions. That's why remote patient monitoring devices and software, which collect data from glucometers, blood pressure monitors, pacemakers and other monitoring devices at the patient's home or elsewhere and send them to central monitoring systems for interpretation, are growing dramatically in use.

Not only does remote patient monitoring reduce the costs of chronic care, it has been shown to improve outcomes. Busy patients can be monitored more frequently to prevent emergency room visits; alerts can be triggered and sent to doctors, nurses or even first responders automatically when measurements exceed defined thresholds; and doctors and patients can look at graphical histories, medical advice and other valuable feedback. Reminders can also be sent to mobile phones so patients don't forget when it's time to get a reading....

Taking another route, Capital Group Holdings, Inc. (CGHC.PK) put emphasis on the build-out and programming of its technology platform for the delivery of medical services to its subscribers. It operates an online medical membership program called OneHealthPass, Inc., a business that offers cardholders access to certified doctors online and over the phone 24 hours a day and permits them to receive prescriptions for allergies, cold, flu, sinus problems and other such non-emergency ailments. While generating monthly membership revenues, the initiative also aims 1) to obviate the need for superfluous visits to their clinics, thereby freeing up the clinic's physicians to deal with the genuinely urgent (and more profitable) cases, and 2) to build brand loyalty and thereby steer members to the company's own urgent care centers when the need arises, rather than to hospital emergency wards or competing clinics.

Another program, One Health Urgent Care Inc. uses state of the art technology, a virtually paperless environment and electronic health records (CCHIT certified) coupled with doctors, board certified providers and staff, it is able to consistently beat the national average for patient wait times and maintain a nearly 100% patient satisfaction rating. This program increased revenue by 36% in the last quarter 2012 in comparison with year earlier. As a result, for the quarter ended December 31st, for Capital Group Holdings revenue jumped over 240% from the previous quarter, while gross profits increased by better than 300%.