Enter telemedicine, a growing technology that closes the gap between facilities for the patients who need the care the most. In a nutshell, telemedicine allows doctors, often specialists such as cardiologists, oncologists and the like, to examine patients in other facilities remotely. This might involve hospitals in big cities like Mexico City or Buenos Aires partnering with smaller towns around the country. Or hospitals in the U.S. and Europe can also take part in order to help these smaller communities.

It’s a novel, cutting-edge idea that’s not only a great partnership for medical facilities, but also a vital tool for the health and well-being of patients.

Many healthcare providers and institutions have caught on to this. As a result, the Latin American telemedicine market’s value is projected to grow with a CAGR of 17.2% between now and 2020 to reach US$2.5 billion—more than double its 2015 value of US$1.13 billion.

The growth of telemedicine is not altogether surprising given that many other high-tech sectors of LatAm healthcare are also expanding, including devices and electronic medical records (EMR).

Taking Advantage of the Telemedicine Boom in LatAm

For manufacturers that provide telemedicine equipment and devices, it’s easy to determine what areas might be interested in your goods and services. Global Health Intelligence provides a rich database of hospitals and other medical centers throughout Latin America that either presently use telemedicine or have the need for telemedicine equipment.

And this opportunity is not simply a good one for manufacturers of the equipment. If hospitals in the U.S. or other parts of the world are interested in partnering with a Latin American facility, for example, the GHI database can help with this, as well. Many facilities have telemedicine equipment but are lacking in good partnerships, so this is a great opportunity for North American or European hospitals to get involved.

Finally, once a facility has telemedicine, they may be interested in other high-tech equipment such as PACs (picture archiving and communication systems), PET scanners and other devices to provide their patients with the best care possible. This is yet another sales opportunity for equipment manufacturers.

Explore More

Contact GHI today for a free demo of HospiScope, our Latin American hospitals database, which covers nearly 90% of the region.

A quick tour will let you see how to take advantage of the telemedicine trend to identify a wide array of new prospects among institutions that are likely to need high-tech equipment.

Telemedicine is vital to expand the borders and provides the tools necessary for a patient to choose the doctor of their choice. Argentina generates approximately USD6 billion with export of Knowledge Based Services (SBC) that go through a cable and telemedicine is one among them.

The Omint health group of Argentina has an online medical platform for medical consultation through videoconference between a doctor and patient. Omint works with Instituto Cardiovascular de Buenos Aires (ICBA) on a program called “Balloon Gate” for patients with infraction. Once a patient calls for ambulance and in the times the ambulance reaches the Institute, patient data is sent to the clinic in electronic form reducing the diagnosis time and treating patient in the golden hour.

Argentina’s medical tourism is among the top five in Latin America and the low treatment prices drive the growth of this sector. As compared to the United States, surgeries in Argentina can cost up to four times less. Telemedicine is regarded as a fundamental technology for internationalization.