Teleradiology to Reach $8 Billion by 2024: Growth in Underserved Hospitals and Multiple-Physician Consultations.

Teleradiology Workflow Made Easy

Approximately 10,000 Baby Boomers hit retirement age every year, and the frequency for which they seek out healthcare is also on the rise. It’s no surprise that the teleradiology market is projected to hit $8.24 billion in eight years.

Technology is the driving force behind the upward mobility of the industry as it allows more specialists to intervene and become part of the solution to patients’ problems. Compounding the push for teleradiology technology is the fact that rural providers depend on their remote teleradiologists to assist in providing excellent patient care.

In fact, there have been a number of government initiatives to improve technology, including using teleradiology, to assist rural providers, which includes clinics and hospitals. Thanks to improved teleradiology practices, more specialists have the ability to consult on critical cases with other radiologists. They’re also finding support in their quest to outsource radiological services, especially in communities that are historically underserved, whether it’s due to geography (rural areas) or other circumstances.

The biggest share of the revenue last year in the radiology industry was in teleradiology, which had a 30 percent share of the market. Some of the most predominant cases involved detecting fractures, dental injuries and core diagnostics as it related to “bedside” imaging. In the years moving forward, experts in the field project that CT teleradiology will take up a greater share with a compounded annual growth rate estimated at 20 percent up to 2024.

As for regions, North America continues to be the biggest user of teleradiology with the Asia-Pacific sector following. However, more government regulations in that sector should help to drive more market share in the years to come.

Teleradiology can be challenging. There are not many vendors providing comprehensive services that cover everything a healthcare provider might need to offer their patients. Furthermore, working in concert with other providers is increasingly an issue that radiologists find challenging without the right solution. Teleradiology services offered by an offsite vendor can help address these challenges.

At OffSite Image Management, Inc., we offer TeleRad360. Our clients enjoy total exam accountability as they leave behind outdated platforms that cost too much and don’t meet all their needs. With TeleRad360, our clients get a solution that helps them manage their data coming from a number of facilities. Customization is also part of the deal when you sign up for TeleRad360 – multiple radiologists can use it to scale up or down as needed. One of the biggest perks is you don’t need separate hardware or software to use TeleRad360. Be part of the solution and contact OffSite today.