​​​​​
Website_EBP-FirstAmerican-368.png

First American Healthcare Finance,  an RBC / City National company, provides funding solutions to healthcare providers. Funded projects range from $250K to $100MM+ and commonly funded initiatives include EMR and software implementations and/or upgrades, medical and dental equipment acquisitions and/or upgrades, and expansion and/or renovation projects. First American is the first financing service to achieve both the national HFMA Peer Reviewed designation and the AHA endorsement. 
 

​SERVICES ENDORSED by IHA​​​​​: ​​​

​​Financing and leasing solutions for medical equipment, technology, software, renovations, and expansions. ​


​CONTACT:

Brian T. Rhodes (bio​)
Assistant Vice President
585-643-3448
Connect with me on LinkedIn 

13 NOV 2019


​Three Tips for Expanding Telehealth Services to Include Connected and User D​evices

There is no doubt that telehealth has a tremendous role in increasing access for patients. But as hospitals expand their strategy, what do they need to know to add new access channels and devices, but still keep patient data safe? Once providers identify what they need, how does the technology interact together? How do they ensure each new component syncs with existing patient data, current infrastructure, software, and external user devices? And how does the software stay updated and how do providers reduce the risk of being hacked? Finally, how do you pay for a system that has so many complex components?


 "As healthcare organizations expand their telehealth services to include more and more connected and user devices, it is important to work with trusted vendors who are familiar with the organization, its staff, their technology, and the vision of telehealth in their organization," says Brian Rhodes, Assistant Vice President at First American Healthcare Finance, "Expanding a telehealth strategy and adding new technology components is not simply buying one new device, smartphone or tablet, it is a way to increase access, deliver care more easily, and provide integrated solutions to patients. But when you add more and more devices, expanding services can become complex and expensive because you need the proper software to ensure patient data is protected on both the provider and patient sides."


Brian Rhodes, IHA Endorsed Business Partner, visiting Indiana health care providers.

For many healthcare providers, expanding any type of technology is overwhelming and it is hard to know where to start. What are the "must have" devices, where does the budget come from, and will new services and channels increase or reduce costs over time?


Here are three tips that can go a long way towards expanding a telehealth strategy:

1. Start with a pilot – Before yo​u expand to have telehealth services integrated on all devices, start with a pilot, and expand when ready. It is critical to have support from senior leadership, and the team can plan and scale when it is the right time for the organization.

2. Build in flexibility – Since all hospitals are different, there is no one-size fits all strategy. Providers should be comfortable with a little uncertainty, and they should build some flexibility into the budget to cover unforeseen costs.

3. Streamline technology and software orders – Working with too many vendors can not only be confusing, but it also can be costly. Many organizations are hiring Directors of Telehealth Services, or at minimum having a dedicated project manager oversee all of the technology, software, and equipment purchases.


In the Telehealth Factsheet, the American Hospital Association says "Telehealth connects patients to vital health care services though videoconferencing, remote monitoring, electronic consults and wireless communications. These links allow patients to access their care team remotely and remove potential barriers to care." There's no doubt that there are still challenges with reimbursement and regulations, but as those challenges are being resolved, providers should continue to strategize on how to expand their remote services.


"In 10 years, the words 'telehealth' and 'connected devices' won't be in our vocabulary.... They will just be 'health'," says Jonah Michael, Senior Vice President at First American Healthcare Finance. Jonah, Brian, and the First American team work closely with many healthcare CFOs across the country to fund their telehealth expansion strategies. The First American team acknowledges "Healthcare providers are excited to deliver exceptional care to their patients in the most convenient way possible."



RESOURCE  LIBRARY:

Healthcare Financing Video Blog: https://fahf.com/video-blog

Video Case Studies: https://fahf.com/case-studies

Featured Video – Parkview Health, 2018 AHA Innovation Challenge 1st Place Winner: https://fahf.com/parkview_health

Financing and Leasing Resources for Hospitals: https://fahf.com/hospitals