Dive Brief:
- Twenty-five states have created "innovation plans," known as SHIPs (State Health Innovation Plans), thanks to grants from CMS' Innovation (CCMI) division.
- In 2013, CMMI funding totaled $300 million, while in 2014, the states received another $660 million. Every state in the program has expressed plans to focus on patient-centered medical homes and lower-cost labor models. Beyond that, 19 states want to expand telehealth use and 15 want to offer more patient-facing digital tools, like patient portals.
- Fourteen of the states plan to invest in data aggregation and analytics to improve population health insights.
Dive Insight:
As initiatives such as CMS' EHR Incentive Program take hold, encouraging providers to embrace patient engagement and quality improvement, the grants offer much-welcomed support to states trying to foster the growth of technology. Expanding telehealth, in particular, is key to healthcare delivery models of the future, as it offers a way for patients in rural or underserved communities to connect with providers and receive more frequent care.
According to a recent BCC Research report, the telemedicine market is expected to hit $43.4 billion by 2019. The overall telemedicine market is growing at a 17.7% compound rate, largely fueled by telehome visits increasing at a compound annual growth rate of 24%.