The business case for telemedicine

Area of Science:

• Maritime Health
• Telemedicine Economics
• Regulatory Compliance

Background:

• The International Labour Organisation Maritime Labour Convention (ILO/MLC) and International Maritime Organisation Standards for Training, Certification and Watchkeeping (IMO/STCW) amendments necessitate enhanced onboard medical support.
• The global shipping industry requires robust medical emergency response systems for commercial vessels.

Purpose of the Study:

• To assess the economic rationale and business case for implementing telemedicine services on commercial vessels.
• To support the adoption of both public and private telemedicine solutions in maritime operations.

Main Methods:

• Analysis of the global demand for telemedicine services in shipping.
• Calculation of costs associated with Telemedicine Assistance Services (TMAS) and ship operators.
• Estimation of the market size for maritime telemedicine and return on investment (ROI) per ship.

Main Results:

• The market for maritime telemedicine is estimated at 760 million Euro/year.
• Implementing telemedicine offers a potential annual saving of 152 million Euro (20% of the market).
• The estimated ROI for onboard telemedicine implementation is less than one year.

Conclusions:

• Telemedicine provides financial benefits and improves crew retention and employer branding.
• Enhanced cooperation is needed among Telemedicine Assistance Services (TMAS), including the private sector.
• Standardization of medical data, equipment, and service quality is crucial for global telemedicine deployment.