Spending Spree on Telehealth Is Winding Down
This year, funding fell from $10.5 billion in the first quarter down to the lowest funding has been at $4.6 billion today, according to a report from HealthcareDive.
Funding for digital health is decreasing back to its lowest levels since 2019. Market adjustments and inflation and interest rates may be to thank.
COVID-19 brought telehealth its biggest break in 2020 when healthcare and much of the world operated and delivered care virtually. At an average of $5.4 billion in funding in 2019, telehealth's worth skyrocketed to its highest of $16.8 billion 2021, being one of the biggest demands in healthcare.
This year, funding fell from $10.5 billion in the first quarter down to the lowest funding has been at $4.6 billion today, according to a report from HealthcareDive.
The decrease in funding is severe for clinical trials tech, telehealth and health IT, though telehealth and health IT continue to see some of the highest funding amounts overall.
According to the report, CB Insights said this year's total telehealth funding is projected to be less than half of what the sector brought in during 2021.
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