U.S. employers could save up to $6 billion per year by providing telemedicine to their employees
As busy professionals trying to juggle many responsibilities, it can seem almost impossible to schedule that doctor's visit for either yourself or your child. The strain on productivity, endless waiting times in the emergency room, and enormous cost become significant reasons to say no. Moreover, a survey of Physician Appointment Wait Times and Medicare and Medicaid Acceptance Rates found that in 2017 it takes an average of 24 days to schedule a new patient physician appointment.
But what if you or your employees didn't have to take time out of the office to go to the doctor or spend the whole night worried about your child's health? Wouldn't that be convenient and liberating!
This is not some distant reality, but something we can do right here and right now through telemedicine. If made more widely available, 74% of consumers would use telemedicine services as they value having access to treatment.
That's why BeniComp provides unlimited telemedicine with their insurance products. The unlimited telemedicine offered is available 24/7, with $0 per visit and puts you in contact with the specialist you need.
But the advantages of telemedicine don't end there:
- Medical access on the go (this is a big one, especially for those of us who have to travel for work or family).
- Immediate access to the physician or specialist you need from the comfort of your office or home
- No out of network doctors (none of those pesky hidden fees)
- No claims to submit
- Can be used by your family
But what does this mean for employers?
PriceWaterhouseCoopers estimates that U.S. employers are expected to spend 6% more on employee health in 2020. Thus, having some control over these costs would be of great value, and one of those solutions is telemedicine. The estimated savings can be seen because 70% of doctor’s visits can be handled over the phone and 50% of ER visits are non-emergencies according to the American Medical Association. With telemedicine, the high costs of going to the ER or doctor are replaced by an upfront fee with no claims costs. A win for health and bottom lines!
Let’s see the savings in action! Remember that with telemedicine you are paying $0 for the visit
- A visit to the emergency can be up to $3,000 and this is without taking into account any additional medical treatments, which will significantly raise the claim amount
- A single employee can save around $300 per year in claims
- A family of four can save more than $1,000 per year in claims.
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