瑞信美股医疗保健行业远程医疗高增长和节省成本的行业塑造医疗保健的未来201810863页

DISCLOSUREAPPENDIXATTHEBACKOFTHISREPORTCONTAINSIMPORTANTDISCLOSURES,ANALYSTCERTIFICATIONS,LEGALENTITYDISCLOSUREANDTHESTATUSOFNON-USANALYSTS.USDisclosure:CreditSuissedoesandseekstodobusinesswithcompaniescoveredinitsresearchreports.Asaresult,investorsshouldbeawarethattheFirmmayhaveaconflictofinterestthatcouldaffecttheobjectivityofthisreport.Investorsshouldconsiderthisreportasonlyasinglefactorinmakingtheirinvestmentdecision.8October2018Americas/UnitedStatesEquityResearchManagedCare&HealthcareFacilitiesTelehealthINDUS[e-mail]@[e-mail],[e-mail]-GrowthandCost-SavingIndustryShapingtheFutureofHealthcareDelivery■APrimerontheGlobalTelehealthServicesMarket.Theglobaltelehealthmarketisdividedintothreemajorcomponents:hardware,software,andservices.Thisreportprimarilyfocusesontheservicessegmentofthemarket,whichconsistsoftheprovidersoftelehealthasopposedtothemakersoftechnologyanddevices.■AHighGrowthIndustryataVeryEarlyStage.Telehealthisundoubtedlyadisruptivetrendinglobalhealthcare.Thetelehealthmarketisforecastedtogrowineveryregionintermsofcomponents,applications,andstakeholders.Whileindustryexpertopinionsvaryregardingtheshapethattheindustrywilltakeandhowquicklyitwillgrow,expertsagreethattelehealthwillalterhowpatientsaccesshealthcareandhowprovidersadministercare.■KeyGrowthDrivers.Severalfactorsinthehealthcareindustrycreatetheneedforanalternativehealthcaresolutionsuchastelehealth:physicianshortages,increasingcosts,andinefficiency.Additionalgrowthdriversincludeanincreaseinchronicandlong-termconditions,anincreaseingovernmenttelehealthinitiatives,andadvancementsinmobileconnectivity.■KeyChallenges.Despitethestrongcost-savingspotentialofthetelehealthmarket,thewidespreadadoptionofthistechnologystillhasalongwaytogo,withthekeychallengesincludinglowconsumerawareness,alackofstandardizationinreimbursementpoliciesbygovernmentandprivatehealthinsurers,anduncertainpatientandproviderinertiawithrespecttotelehealth..8October2018Telehealth2TableofcontentsExecutiveSummary4ABriefHistoryofTelehealth6TelehealthMarketComponents7Provider-drivenHub-and-SpokeTelehealthvs.B2B2C/DTCTelehealth.................7Provider-drivenHub-and-SpokeTelehealthArrangement7Business-to-Business-to-Consumer(B2B2C)/Direct-to-consumer(DTC)TelehealthArrangement8TelehealthServiceComponents..............................................................................8TelehealthStakeholders..........................................................................................9GlobalTelehealthMarketSizeandGrowthExpectations11NorthAmericanTelehealthMarket........................................................................12EuropeanTelehealthMarket..................................................................................19TelehealthMarketDrivers23HealthcareAccessChallenges..............................................................................23B2B2C/DTCTelehealthSolutions26Provider-drivenTelehealthSolutions26HealthcareCosts....................................................................................................26B2B2C/DTCTelehealthSolutions28Provider-drivenTelehealthSolutions28OwnershipofDigitalTechnologies.........................................................................29ImprovingGovernmentRegulationsandInitiatives................................................31ReimbursementRegulationsUnderGovernmentProgramsintheU.S.31PrivateParityRegulations33OtherRegulations33TelehealthMarketChallenges34LowUtilization........................................................................................................34Consumer’sLackofAwareness.............................................................................34PatientandProviderResistancetoTelehealth......................................................35CostSavingsorIncreasedUtilization?..................................................................38ReimbursementConfusion.....................................................................................39B2B2C/DTCMarketinDetail42B2B2CRevenueModel..........................................................................................43ConsolidationOpportunitiesandFundingEnvironment44MergersandAcquisitions.......................................................................................448October2018Telehealth3FundingDeals........................................................................................................44Appendix46Glossary48TelehealthCompanies518October2018Telehealth4ExecutiveSummaryTelemedicine,ortelehealth,isafarbroaderandmorecomplexindustrythanmerelyaphonecallbetweenapatientandphysician.Thisreportattemptstounpacktheindustry,understandingitsgrowth,potential,risks,majortrends,andthekeyplayers.Theglobaltelehealthmarketisdividedintothreemajorcomponents:hardware,software,andservices.Thisreportprimarilyd