Marketing 13th Edition by Gary Armstrong, Philip Kotler

Exercise 4

With the majority of health-care costs spent for the treatment of chronic diseases and the reason for most emergency room visits being nonemergencies, the time is ripe for telemedicine. Patients are tapping their phones, tablets, and keyboards instead of making an office visit or trip to the emergency room. Technology makes it possible for doctors to consult with patients through Skype or FaceTime on smartphones, access medical tests via electronic medical records, and send a prescription to a patient's local pharmacy-all from miles away. The telemedicine industry is still in its infancy, earning only $200 million in annual revenue, but it is predicted to increase to an almost $2 billion industry in just a few years. Technology isn't the only reason for this industry's growth. The HITECH Act encouraging electronic medical records is also adding fuel to this fire.
In what stage of the product life cycle is telemedicine? What role has mobile technology played in evolution of this industry? Explain (AACSB: Communication; Reflective Thinking)