In places like the United States, the medical industry is such a financial force that it now accounts for as much as 20% of the country’s GDP. Much of that is through patients self-referring or pursuing excessive treatment or care when there are simpler solutions. Other regions, like the Middle East, experience an overuse of medical services too, especially when they don’t need a general practitioner’s referral to visit specialists. Much of the brunt of these realities is borne by extended health medical coverage underwritten by insurance companies.
Obviously, insurance services must be offered at a reasonable profit/loss ratio for the insurer, otherwise it’s not a business, it’s a charity. So, to make up for these excess billables, premiums must rise, coverage must reduce, and conflict often inevitably occur, possibly resulting in the insured companies changing policies, or worse, changing providers. For every change in coverage or provider, employee morale suffers as well. Ultimately there are no winners in that situation.
Especially since providing healthcare also needs to be the driving mandate for a benefits insurance company too.
But we can help.
How Insurance Providers Benefit
We simply want the most expedient solution that serves all parties – insurers, client companies, and patients.
With more than 75% of all consultations being solvable through online and phone visits, using these remote-consultation options dramatically reduces incidents of walk-in clinic appointments, unneeded ER visits, and regular GP engagements. This is a huge help in cutting the loss ratio. It also means higher retention for companies and patient plans.
When it comes to things like chronic disease, prolonged illness, and wellness programs, our services can mean further reduced expenses for providers, since online visits can complement any needed in-facility testing or follow-ups. An online check-in often accurately ascertains a patient’s needs and progress.
And with all those savings, insurance providers can count on at least two things – higher profit, and greater client satisfaction.