Virtual Healthcare is also known as Telemedicine or Telehealth. It is a method by which doctors and other health care providers, such as nurses or medical assistants, communicate with patients without actually seeing them in the office.
This is a game-changer for business owners. Virtual Healthcare is making it possible for small and mid-size businesses to offer medical coverage at affordable prices. It also makes it possible for employees to seek medical attention without missing huge chunks of the workday.
Virtual Healthcare is the Wave of the Future
Marketing research company Parks Associates tells us that in 2013, only about 900,000 households used video chat to consult a physician. By 2018, that number exploded to 22.6 million households using video chat to consult a physician.
In 2013, Virtual Healthcare revenues were under $100 million. The same industry earned almost $14 billion in revenue in 2018. Most of the revenues come from insurers, who foot the bill for Virtual Healthcare just like they reimburse patients for face-to-face visits.
Better Access for Patients
Especially in rural areas, telemedicine greatly increases the number of available medical experts and professionals. With many insurance coverages, it can be very difficult to find a specialist within the required network. With Virtual Healthcare, the provider pool is much larger. The patient has greater access to a wider network of doctors and physicians. Many telemedicine programs are also available 24/7 which removes hassles around appointments and scheduling.
Doctors in Virtual Healthcare programs can write prescriptions that can be filled at your local pharmacy. They can also order lab work and help manage chronic care in collaboration with the patient’s Primary Care Physician (PCP).
Reduced Healthcare Costs
With Virtual Healthcare, the savings are spread around multiple areas. Providers will benefit from reduced costs stemming from shorter travel times and fewer hospital visits. Employers will be able to offer coverage for their staff at a much lower price point because Virtual Healthcare costs a fraction of traditional medical benefit programs.
Additional benefits of Virtual Healthcare also include discounts for dental, vision, hearing, specialists, acupuncture, lab work, testing, medical equipment, and supplies. While some of these add-ons may not be covered by a typical Virtual Healthcare plan, patients can still take advantage of discounted non-insurance solutions at pre-negotiated cash prices. Some Virtual Healthcare plans offer discounts on prescription drugs as well.
Improved Quality of Care
Patients won’t be stuck with whoever is local or available within their specified network. Virtual Healthcare allows patients to pick from a wider range of medical professionals, meaning they have a higher likelihood of finding the right fit for their needs.
With more choices, more savings, and more medical solutions at the fingertips of the patient, Virtual Healthcare is here to stay. No matter the size of your business, Virtual Healthcare can save you money and make your employees happier!
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