To develop a telemedicine project plan you also have to define a business model that will be economically sustainable and successfully address challenges. There is no one-size-fits-all approach for any telemedicine company and you have to tailor your offering to fit the needs of the community or market segment you want to service and comply with state and federal laws. The business model can pursue various motivations for the business, for example, AMD Global Telemedicine lists three possible models a telemedicine business can choose from:
- Access to the care model: This model deals with care delivery “in remote locations or to populations that do not have care available to them due to geography or limited resources.”
- Cost savings model: The goal of this model is to provide alternative care delivery methods to reduce costs (by eliminating transportation costs and sharing resources between hospitals).
- Access to the market model: This model allows expanding the market covered by a healthcare provider and delivering services and expertise over a greater distance.