Latest news with #Telehealth
The Guardian
8 hours ago
- Health
- The Guardian
Australia's largest private hospital operator to close majority of psychology clinics to be ‘flexible, sustainable'
Ramsay Health Care, Australia's largest private hospital operator, has announced it will be closing the majority of its psychology clinics, described by the peak body as 'very sad news' for those needing mental health care. The hospital network said it would progressively close 17 out of its 20 clinics by the end of August, in order to transition Ramsay Psychology to a 'more flexible and sustainable model'. Three clinics in Cairns, Charlestown and Joondalup will remain open to 'support local needs, maintain key partnerships and pilot more integrated models of care', Ramsay Health Care said in a statement. 'We understand this change might be unsettling and we are working closely with our psychologists to ensure every client is supported and has continuity of care, whether through our existing and expanded Telehealth service or with another trusted provider, depending on what is clinically appropriate,' the statement said. Sign up: AU Breaking News email Ramsay's website states it is 'Australia's largest private provider of psychology services'. It has not yet become clear if the closures amount to significant job losses. The network lists 141 psychologists on the website's 'find a practitioner tool'. The company also provides psychology services through mental health clinics offering inpatient treatment and outpatient sessions and day programs, which Guardian Australia understands will not be affected. In November an Australia government review of the private hospital sector's financial viability highlighted that obstetrics and mental health were 'two particular services of concern' becoming 'increasingly difficult to offer'. The president of the Australian Association of Psychologists, Sahra O'Doherty, said 'the closure of these clinics is very sad news for anyone needing professional mental health care'. 'Given we learned today the National Mental Health Commission Report Card showed that 20% delay seeking mental health help because of cost, these closures mean accessing psychological care will be more challenging,' Doherty said. The report for 2024, released on Thursday, also found less than half (45.1%) of people who had a mental disorder in the last 12 months had seen a health professional for their mental health in the past year. The diminishing access to mental health services comes against the backdrop of shortages of psychiatrists in both the public and private sectors, with the high-profile dispute between NSW Health and the state's public psychiatrists highlighting the constraints on mental health care in public hospital settings.
Perth Now
10 hours ago
- Health
- Perth Now
‘Devastating': Private health giant shuts clinics
The country's biggest private hospital company will shut the majority of its psychology clinics in a matter of months. Ramsay Health Care notified staff of the closure of 17 of its 20 clinics earlier this month. The three remaining clinics are in the Newcastle suburb of Charlestown, in Perth's northern suburbs, and in Cairns. 'We understand this change might be unsettling and we are working closely with our psychologists to ensure every client is supported and has continuity of care, whether through our existing and expanded Telehealth service or with another trusted provider, depending on what is clinically appropriate,' a spokesperson said. 'This change is part of Ramsay's broader strategy to strengthen how we deliver high-quality, accessible and connected care across hospital, home and virtual settings.' Ramsay Health Care is a major player in Australia's private healthcare industry. Jason Edwards / NewsWire Credit: News Corp Australia Only Ramsay's community-based psychology clinics are closing, not its hospital mental health services or inpatient and day programs. Federal Greens leader Larissa Waters said half of Australians who needed mental health support already could not get it. 'The waiting lists are huge, and so it's devastating to see that a private healthcare operator is going to close down yet more facilities, and where are those people going to go?' she said. 'Health care shouldn't be for profit, and it shouldn't be how much money you've got on your credit card to enable you to get the health care that you need. 'So it's a real shame that profit seems to be driving this outcome that will have a real impact.' Ramsay Health is listed on the Australian sharemarket and valued at $8.9bn. The company's share price is down 16 per cent over the past 12 months. Erina on the NSW Central Coast is one of the clinics to close. Google Credit: Supplied In August, Ramsay Health Care reported a nearly triple full-year profit of $888.7m, up from $298.1m the year before. The large return was mostly due to the sale of Ramsay's stake in Ramsay Sime Darby, which owns hospitals in Malaysia and Indonesia. The financial results gave shareholders an 80 cent dividend per share across the financial year. 'The government should be providing healthcare services as a universal right of all Australians, and it shouldn't be whether or not a private company's profit margin is going to work to determine the outcomes for Australians' access to mental health care,' Ms Waters said. The 17 clinics are being shut progressively until the final one closes the doors permanently by the end of August. Ramsay Health Care's share price has tumbled over the past year. NewsWire / Gaye Gerard Credit: News Corp Australia Four Melbourne clinics are being shut, three in Sydney will close, two in Perth will shut, and single clinics on the Sunshine Coast, Ipswich, the Gold Coast, NSW's Central Coast and Wollongong will close. 'After careful consideration, we are transitioning Ramsay Psychology to a more flexible and sustainable model, which includes the progressive closure of 17 clinics by the end of August,' the Ramsay spokesperson said. 'Three clinics, in Cairns (QLD), Charlestown (NSW) and Joondalup (WA), will remain open to support local needs, maintain key partnerships and pilot more integrated models of care. 'Ramsay Health Care is reshaping how it delivers community-based mental health support to better meet the evolving needs of clients and clinicians.' The National Mental Health Commission's National Report Card was also released on Thursday, the same day as news of the Ramsay closures broke. Health commission chief executive David McGrath said fewer and fewer people could afford mental health care. 'We have also seen a steady rise in financial stress and in the proportion of people in Australia delaying mental health care due to cost in the last four years,' Mr McGrath said in the report. 'Disappointingly, many social factors impacting mental health are not showing improvement (e.g. loneliness and experiences of discrimination) and positive experiences of mental health care have remained stable.' People were feeling less secluded than in the previous year, the commission found, and more people were getting help now than in 2007. 'However, there is no question there is a long way to go – our younger generations continue to report heightened psychological distress and financial stress and have a much higher prevalence of mental health challenges relative to the rest of the population,' Mr McGrath said.
West Australian
10 hours ago
- Business
- West Australian
Private healthcare giant Ramsay shuts psychology clinics
The country's biggest private hospital company will shut the majority of its psychology clinics in a matter of months. Ramsay Health Care notified staff of the closure of 17 of its 20 clinics earlier this month. The three remaining clinics are in the Newcastle suburb of Charlestown, in Perth's northern suburbs, and in Cairns. 'We understand this change might be unsettling and we are working closely with our psychologists to ensure every client is supported and has continuity of care, whether through our existing and expanded Telehealth service or with another trusted provider, depending on what is clinically appropriate,' a spokesperson said. 'This change is part of Ramsay's broader strategy to strengthen how we deliver high-quality, accessible and connected care across hospital, home and virtual settings.' Only Ramsay's community-based psychology clinics are closing, not its hospital mental health services or inpatient and day programs. Federal Greens leader Larissa Waters said half of Australians who needed mental health support already could not get it. 'The waiting lists are huge, and so it's devastating to see that a private healthcare operator is going to close down yet more facilities, and where are those people going to go?' she said. 'Health care shouldn't be for profit, and it shouldn't be how much money you've got on your credit card to enable you to get the health care that you need. 'So it's a real shame that profit seems to be driving this outcome that will have a real impact.' Ramsay Health is listed on the Australian sharemarket and valued at $8.9bn. The company's share price is down 16 per cent over the past 12 months. In August, Ramsay Health Care reported a nearly triple full-year profit of $888.7m, up from $298.1m the year before. The large return was mostly due to the sale of Ramsay's stake in Ramsay Sime Darby, which owns hospitals in Malaysia and Indonesia. The financial results gave shareholders an 80 cent dividend per share across the financial year. 'The government should be providing healthcare services as a universal right of all Australians, and it shouldn't be whether or not a private company's profit margin is going to work to determine the outcomes for Australians' access to mental health care,' Ms Waters said. The 17 clinics are being shut progressively until the final one closes the doors permanently by the end of August. Four Melbourne clinics are being shut, three in Sydney will close, two in Perth will shut, and single clinics on the Sunshine Coast, Ipswich, the Gold Coast, NSW's Central Coast and Wollongong will close. 'After careful consideration, we are transitioning Ramsay Psychology to a more flexible and sustainable model, which includes the progressive closure of 17 clinics by the end of August,' the Ramsay spokesperson said. 'Three clinics, in Cairns (QLD), Charlestown (NSW) and Joondalup (WA), will remain open to support local needs, maintain key partnerships and pilot more integrated models of care. 'Ramsay Health Care is reshaping how it delivers community-based mental health support to better meet the evolving needs of clients and clinicians.' The National Mental Health Commission's National Report Card was also released on Thursday, the same day as news of the Ramsay closures broke. Health commission chief executive David McGrath said fewer and fewer people could afford mental health care. 'We have also seen a steady rise in financial stress and in the proportion of people in Australia delaying mental health care due to cost in the last four years,' Mr McGrath said in the report. 'Disappointingly, many social factors impacting mental health are not showing improvement (e.g. loneliness and experiences of discrimination) and positive experiences of mental health care have remained stable.' People were feeling less secluded than in the previous year, the commission found, and more people were getting help now than in 2007. 'However, there is no question there is a long way to go – our younger generations continue to report heightened psychological distress and financial stress and have a much higher prevalence of mental health challenges relative to the rest of the population,' Mr McGrath said.
Globe and Mail
15-07-2025
- Health
- Globe and Mail
Telehealth Market & Telemedicine Market to Hit USD 180.86 Billion by 2030 with 11.5% CAGR
Browse 548 market data Tables and 65 Figures spread through 500 Pages and in-depth TOC on "Telehealth & Telemedicine Market by Function (Teleconsultation, RPM, Diagnostics & Treatment, Analytics, Administrative), Application (TelelCU, Teleradiology, Telecardiology, Diabetes), End User (Hospital, ASC, Payer), & Region - Global Forecast to 2030 The Telehealth Market & Telemedicine market valued at US$ 83.62 Billion in 2023, is forecasted to grow at a robust CAGR of 11.5%, reaching US$ 94.14 Billion in 2024 and an impressive US$ 180.86 Billion by 2030. The telehealth and telemedicine market are experiencing significant growth primarily driven by the growing geriatric and medically underserved (especially rural) populations, the growing prevalence of chronic conditions, the benefits of telehealth & telemedicine given the current shortage of physicians and care personnel, and advancements in telecommunication technologies, and expansion of remote patient monitoring (RPM) systems. However, regulatory variations across regions, the rise in fraud and abuse within healthcare systems, and behavioural reluctance to adopt new technologies are expected to restrain the market growth during the forecast period. Download PDF Brochure: Browse in-depth TOC on " Telehealth Market & Telemedicine Market" 350 - Tables 50 - Figures 400 - Pages Government initiatives to improve access to healthcare also play a vital role, often providing funding and resources to strengthen telehealth infrastructure, especially in underserved regions. Collaboration between technology firms and healthcare delivery organizations is a very important determinant that will have innovative solutions towards enhancing service delivery and engaging the patient to improved health outcomes. Together, these determinants drive growth in the market and change the face of the healthcare delivery scene to become responsive to patient needs and preferences. By component, the software component is expected to capture the largest share of telehealth & telemedicine market during the forecast period. This would be due to the increasing demand for the digital health solution, which could be used for remote consultations, monitoring, and patient management. The software segment includes different tools and platforms, such as electronic health records (EHR), telemedicine applications, and patient management systems, which are important for providing virtual healthcare services. The product will increase productivity in the hands of healthcare providers through proper communication, real-time tracking of information, and inclusion into other service offerings. Moreover, the cloud-based platform and AI machine learning in application software also support their adoption by enriching the features of diagnosis, treatment plans, and predictive analytics. The healthcare systems that are increasingly adopting digital transformation will be dominated by software solutions in terms of scalability, flexibility, and improved patient outcomes. By Age group, adults segment is dominated the telehealth & telemedicine market. This is due to the steadily rising prevalence rate of chronic diseases and the growing desire for healthcare care among adults. Adults, especially those above age 40, normally require regular and continued monitoring management of conditions for diabetes, high blood pressure as well as cardiovascular-related diseases, which telehealth can be very useful. Telemedicine is easy and convenient for adults to access healthcare services without the need for frequent in-person visits, which is very helpful for people with mobility issues, busy schedules, or limited access to healthcare facilities. Moreover, adults are more likely to embrace technology and use digital health solutions for managing their health, thus contributing to the dominance of the segment in the telehealth and telemedicine market. The major players in the telehealth & telemedicine market with a significant global presence are Koninklijke Philips N.V. (Netherlands), Medtronic (Ireland), GE Healthcare (US), Epic Systems Corporation (US), Oracle (US), Doximity, Inc. (US), Teladoc Health, Inc. (US), American Well (US), Siemens Healthineers AG (Germany), Cisco Systems Inc. (US), Included Health, Inc. (Doctor on Demand, Inc.) (US), AMC Health (US), TeleSpecialists (US), Walgreen Co. (US), Caregility (US), CVS Health (US), EverNorth Health, Inc. (US), Elation (US), Iron Bow Healthcare Solutions (US), and Zoom Communications, Inc. (US), Timedoc Health (US), Cerebral Inc. (US), Kindbody (US), Transcarent (US), and Caresimple, Inc. (US). The market players have adopted strategies such as acquisitions, collaborations, partnerships, mergers, product/service launches & enhancements, and approvals to strengthen their position in the telehealth & telemedicine market. The product and technology innovations have helped the market players expand globally by providing telehealth & telemedicine solutions. These players not only have a comprehensive and diverse product portfolio but also a strong geographic presence. With the increasing adoption of telehealth and telemedicine in various healthcare applications, these players can focus on developing innovative virtual care platforms and adaptive trial design advanced remote patient monitoring solutions, and integrated telemedicine services. These market players offer a diverse range of products and services worldwide. They rely on technological advancements to develop innovative products and services and increase their global footprint. Increasing focus on acquisitions, collaborations, partnerships, mergers, product/service launches and enhancements, and approvals, facilitate the market players to expand their global reach and develop advanced telehealth & telemedicine solutions to sustain their market positions. Koninklijke Philips N.V Koninkliike Philips N.V. is a diversified technology-based company in the healthcare and consumer lifestyle markets. It is one of the leading companies in the healthcare sector with a strong presence in cardiac care, acute care, and home healthcare. The company operates through four segments: Personal Health, Diagnosis & Treatment, Connected Care, and Others. The telehealth and telemedicine services fall under the connected care segment. The connected care segment consists of following business's monitoring, sleep & respiratory care and enterprise informatics. The telehealth solutions are used by providers and patients. The company operates in North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. In November 2024, Philips has received FDA approval for remote scanning and protocol management features in its Radiology Operations Command Centre (ROCC), allowing radiologists to assist with scans remotely. In January 2023, Philips and Masimo expanded their partnership to enhance telehealth by integrating the Masimo W1 health-tracking watch with Philips' monitoring systems for better patient care at home. Medtronic Medtronic is one of the largest medical technology, services, and solutions companies globally. The company operates through four principal segments, namely, Cardiovascular, Diabetes, Medical Surgical, and Neuroscience. The company extends telehealth solutions across all four segments. Within the Cardiac and Vascular segment, it offers products and services to diagnose, treat, and manage cardiac rhythm disorders and cardiovascular diseases. Medtronic's portfolio encompasses remote monitoring platforms and patient-cantered software through its products and Medtronic Care Management Services. The telehealth solutions offered by the company cover glucose management and cardiac condition management. Medtronic's telehealth device offerings include Bluetooth-enabled and direct-connect peripherals. These devices comprise weight scales, glucometers, blood pressure monitors, pulse oximeters, pedometers, and activity trackers. Medtronic serves its customers in ~160 countries worldwide. The company operates in North America, Latin America, Europe, Asia Pacific, Middle East and Africa and Russia. Epic Systems Corporation Epic Systems is a software development, installation, and support company that also provides consulting services. The company establishes healthcare management software that combines financial and clinical information from inpatient, ambulatory, and payer technology systems. The company's core competency is to provide EHR software solutions. Epic Systems Corporation is integrating Al into telehealth and telemedicine through strategic partnerships with Microsoft and generative Al technologies. Epic aims to improve productivity and patient care in virtual healthcare settings by combining its EHR solutions with Microsoft's Azure OpenAl Service. This encompasses improving workflows, enabling generative Al to compose message responses, and supporting natural language queries. Epic's Al efforts also focus on enhancing self-service reporting tools, maintaining financial integrity, and improving clinical outcomes, all of which will enhance global telehealth and telemedicine systems. It operates its offices in the US, UK, Canada, Denmark, the Netherlands, Norway, Saudi Arabia, the UAE, Finland, Ireland, Australia, Singapore, and Switzerland. For more information, Inquire Now!
Yahoo
25-06-2025
- Business
- Yahoo
Why Hims & Hers Health Stock Is Crashing Today
Novo Nordisk is ending its relationship with the company, removing its ability to sell the uber-popular drug Wegovy. Novo alleges Hims & Hers was not following standards and was endangering patient safety. 10 stocks we like better than Hims & Hers Health › Shares of Hims & Hers Health (NYSE: HIMS) are imploding on Monday, down 32% as of 3:03 p.m. ET. The drop comes as the S&P 500 rose 0.8% and the Nasdaq Composite rose 0.7%. Novo Nordisk announced it will cut ties with Hims & Hers, saying the telehealth provider can no longer sell compounded versions of its blockbuster GLP-1 weight loss drug Wegovy. Novo Nordisk announced this morning that it is ending a partnership with Hims & Hers that allowed the telehealth provider to sell Novo's blockbuster weight-loss drug, Wegovy. According to Novo Nordisk, Hims & Hers "failed to adhere to the law which prohibits mass sales of compounded drugs under the false guise of 'personalization.'" Hims & Hers offered compounded versions of Wegovy, claiming it offered medically necessary personalization for some patients. The compounded versions, according to Novo, were sourced out of China and the labs producing them failed to meet standards or be approved by U.S. regulators. In a statement on X, Hims & Hers CEO Andrew Dudum said the company is "disappointed to see Novo Nordisk management misleading the public" and that it would "not compromise the integrity of our platform to appease a third party." The loss of its ability to sell Wegovy is a significant hit to Hims & Hers' business. The massive drop today in its stock reflects this, but even after falling more than 30%, the stock is still too expensive for my taste. Before you buy stock in Hims & Hers Health, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Hims & Hers Health wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $664,089!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $881,731!* Now, it's worth noting Stock Advisor's total average return is 994% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 23, 2025 Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Hims & Hers Health. The Motley Fool recommends Novo Nordisk. The Motley Fool has a disclosure policy. Why Hims & Hers Health Stock Is Crashing Today was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
