In the realm of virtual care delivery, we are seeing digital technology, patient-centered care and tools for the delivery of population health management converging, and enabling us to produce tangible value for stakeholders.
When looking at providing value in healthcare, there are many examples to point to especially in the world of virtual care delivery. Here’s a look at three unique value propositions that health plans and organizations covet:
Financial savings – When patients with acute or complex cases have virtual access to diagnostic services, care management, and treatment support, there is a profoundly positive impact on costs, as the gaps in care are dramatically closed. In fact, virtual care delivery is already a consistent driver of financial savings. T-Mobile, America’s fastest growing wireless carrier, is a forward-thinking brand that sought an opportunity to improve the health of its workforce while delivering better financial value. T-Mobile worked with Teladoc to help bring virtual care delivery to its valuable employees and the results were significant. By redirecting care from emergency rooms and office/urgent care settings, Teladoc was able to help T-Mobile save $1,785,000 in 12 months. Combine that with $368,000 in productivity savings, and T-Mobile saved $2,153,000 in one year. Beyond the financial value, 96% of employees rated the experience with Teladoc as “excellent” or “good” and 99% said they would use Teladoc again. The process works while containing costs.
Increased patient engagement and satisfaction – A growing number of business leaders rank employee engagement as a top priority — and challenge — for their organizations. Less than one-third of U.S. employees are actively engaged in their jobs, and even fewer regularly participate in the programs and benefits offered to improve their health and healthcare experience. This is another area where organizations will demand more from vendors in order to unlock potential value. Virtual care delivery provides a unique opportunity to change the paradigm of health delivery from limited access and higher costs to increased access and lower costs by closing gaps in care. With just a 5% utilization of a telehealth benefit, redirection from facility-based care to telehealth care offers a 2:1 savings.
Improved health outcomes – Telehealth is already evolving from providing care access for just episodic ailments to a full suite of medical conditions including chronic and critical health issues. With a central access point to a full continuum of care needs — and the top-rated physicians — patients can trust that they will get high quality care and expertise, that is not standalone, but incorporated within the existing health system. This means that existing records are reviewed, and expert diagnoses and results are rapidly shared with a patient’s primary care physician and treating specialists. With co-morbidities found in 29% of virtual care cases, the need is pressing for this integrated care, and telehealth possesses the unique ability to fill the gaps. Expert second opinions, treatment decision support, and pathology reviews are just a few of the expanded virtual services that dramatically improve outcomes. In many instances, members who received a Best Doctors expert second opinion realize improved health outcomes, which translates into dramatic value for organizations.
While virtual care delivery already provides significant value, it can realize even greater value by evolving from acute/episodic care to address chronic care and critical health issues. Teladoc, with the addition of Best Doctors, can do just that. From everyday issues to the most costly and complex conditions, virtual care delivery combined with data/ analytics and an engaging consumer experience addresses the full spectrum of care, creating a unified, patient-centric way to add value for the most forward-thinking health systems, health plans, employers, and patients.