Consumer opinion of telemedicine wanes

Digital ad spending in the US healthcare and pharmaceutical industry will grow by 14.2% to reach $9.53 billion in 2020. Growth is being fueled by ads related to COVID-19, including public service announcements, medical supplies and telemedicine.

Telemedicine users in the US will reach 41.67 million in 2020, representing a growth of 98.8% from a year prior, according to our latest estimates.

Healthcare providers such as the Texas A&M Health Science Center partnered with telemedicine kiosk company OnMed to launch a virtual care station for patients in rural Texas, for example. Texas A&M’s telemedicine station is strategically placed in a centralized, tech-enabled location, helping to extend access to those who live within a reasonable radius of the hub.

In the US, Verizon has taken several steps to improve telemedicine with 5G. The US telecom acquired the videoconferencing platform BlueJeans for an estimated $400 million in May 2020.

On today's episode, we discuss how many Americans have adopted telehealth, how people are using it, and what's both driving it forward and holding it back. We then talk about the popularity of buy now, pay later services, why some retailers are now starting to expand their brick and mortar presence, and what adding prescription discounts might do for Amazon and Walmart's membership programs. Tune in to the discussion with eMarketer principal analyst Lisa Phillips and director of forecasting at Insider Intelligence Cindy Liu.

And it seems most employees have had a positive experience with that’s already available: 65% of US adults insured by their employer said they were happy with their telemedicine experience—a much higher satisfaction rate compared with those covered by other insurers, according to Civic Science’s 2021 Telemedicine Usage survey results.