Wednesday, November 12, 2014

An Entrepreneurial Reaction to An Obamacare Consequence

One of the many negative unintended consequences of Obamacare is the predictable shortage of doctors in the US (for more on this, click here).  But just as predictably (thank goodness!), entrepreneurs will figure out how to deal with the shortage.  Actually, it seems as though it has already started.  From an article at Popular Mechanics:
That option is known as telemedicine, a term encompassing any remote technology that replaces a doctor's visit. Could be a videoconferencing diagnosis of a case of shingles. Could be a big-city surgeon talking a small-town doctor through an operation. Or sensors worn by elderly patients that can be monitored from afar. And the trend is growing. In June the American Medical Association released guiding principles on the provision of telemedicine services, including seemingly obvious ideas like having practitioners abide by the same standard of care as in-person services. A recent study by IMS Research estimated that the industry could be worth $6 billion by 2020. And last year three of the nation's Web-based healthcare companies—Teladoc, MDLive, and American Well—processed over 400,000 interactions online, more than double the amount in 2011. With 32 million Americans becoming insured under Obamacare, telemedicine could help avert a doctor shortage.