Saving Money on Healthcare with Telemedicine
The Rising Costs of Healthcare in America
In recent years, the U.S. has witnessed a steady surge in healthcare costs.
According to data from the Centers for Medicare & Medicaid Services, healthcare expenditures in America rose by 4.6% in 2019, reaching a staggering $3.8 trillion or about $11,582 per person.
This upward trend is attributed to various factors including high administrative costs, expensive medical procedures, and prescription drug prices, making healthcare affordability a pressing concern for many American households.
Americans can cut these costs significantly by changing the way they approach healthcare.
What is Telemedicine?
Telemedicine refers to the use of telecommunication and information technologies to provide clinical healthcare from a distance.
It eliminates the need for patients to travel to a doctor's office, making healthcare more accessible, especially for those in remote areas.
The Financial Impact of Telemedicine on the Average American
For the average American, telemedicine translates to significant savings in both direct and indirect ways.
Directly, the costs of telehealth consultations are often lower than traditional in-person visits.
A study by the Alliance for Connected Care concluded that telehealth visits have an average estimated cost of $50, compared to $176 for in-person acute care visits.
This means substantial out-of-pocket savings for those without comprehensive insurance or those with high deductibles.
Indirectly, the savings accumulate from reduced travel expenses, less time taken off work, and fewer ancillary costs like childcare during medical appointments.
Over time, these savings can be considerable, making telemedicine not just a convenient, but also a cost-effective alternative for many.
Benefits of Telemedicine
Cost Savings: Telemedicine can reduce the cost of healthcare by cutting down on travel, missed workdays, and reducing or eliminating the need for in-person visits.
Accessibility: For patients in rural or underserved areas, telemedicine provides an avenue to medical services that otherwise might not be available.
Convenience: Patients can access medical expertise quickly, without waiting for an in-person appointment.
Reduced Transmission: Especially relevant in times of contagious diseases, telemedicine limits the exposure of health professionals and patients to potential disease transmission.
How to Use Telemedicine
Most telemedicine platforms require patients to sign up and create a profile.
Once registered, patients can book appointments, have video consultations, receive prescriptions, and get medical advice from qualified healthcare professionals.