These days, if you want to be up-to-date with customer’s needs, researching new market trends is a must. eHealth – one of the most developed segment of healthcare industry – is called a “future of medical services”.
Numbers do not lie – global eHealth market value will be about 280 billion Euro by 2020, whereas in Europe at the end of 2018 its value was more than 6 billion Euro1. Telemedicine, as a huge part of eHealth services, should not be underestimated as well. Consultations with doctors via chat, video or phone are more and more popular these days – especially among people having the most common health problems, such as cold, flue, stomach ache etc.
Teleconsultations as a method of reducing costs of insurance companies
Telemedi.co platform is one of the most dynamically developing tools made for teleconsultations. Its main idea is to help reducing costs effectively and increase patient’s satisfaction. Comparing face-to-face visits and teleconsultations – the difference in costs is significant. Insurance companies cooperating with Telemedi.co save about 40% on each medical consultation, which has been solved during telemedicine consultation instead of stationary one. What causes this difference in price? No stationary clinic means no rent, infrastructure etc. In additional, Artificial Intelligence – used in Telemedi.co platform – based on historical data, decides which cases can be solved during teleconsultations.
How to convince unconvinced
We cannot forget about the artificial intelligence effect on costs reductions. AI makes doctor’s work easier and faster– up to 30%. It also manages doctors’ schedules. Doctors receive reports with probability percentage rank of patient’s illness just before teleconsultation. AI system does the same what the doctor does during the stationary visit, spending time for it – manages documentation, collects data about sickness symptoms, makes initial diagnosis etc. The numbers do not lie – currently AI system suggests right triage in 80% of cases (taking into account visits, classified as teleconsultations) and is still learning. Depending on the cooperation model, we can guarantee that you pay only for the teleconsultations which are fully solved and do not require stationary visit in 7 days after eVisit.
Time and cost savings connected with remote doctors’ consultations
Doctors working for Telemedi.co platform, apart from their knowledge, require only computer and phone. They do not have to commute and spend time on collecting patient’s medical history – AI triage does it for them. Symptom checker collects patient’s sickness symptoms and assigns them to specific illness and doctor’s role is to decide if initial diagnosis is right or wrong. If the doctor has any doubts, AI has the functionality of suggesting what to ask more. All these factors have an impact on the cost of doctor’s work. With the help of AI, doctors during teleconsultations are more effective and faster. Moreover, they do not waste time on paperwork, because AI does it effectively, collecting patient’s medical history and sickness symptoms. What is important – AI does not replace doctors – it suggests diagnosis. Only doctors have the right to diagnose patients.
A real value of Telemedi.co platform
Telemedi.co platform is chosen by more and more healthcare entities every year – mainly because of its effectiveness, lower costs, necessity to be up-to-date with the latest trends and the company’s reliability. Statistics related with our business partners show, that minimum 10% of all consultations can be directed into telemedicine. Combine it with 80% of effectiveness of AI system (talking about visits, which can be conducted as teleconsultations) and eVisits cheaper by 40% – everybody wins. Knowing the percentage of cost reductions and costs of stationary visit – it is an easy mathematical equation. Are such platforms worth investing? It is rather a rhetorical question – especially taking into account, that healthcare entities pay only for teleconsultations, which solve people’s problems.
These are real money savings
How many stationary visits do you cover monthly? How much do you pay for each visit? Let us estimate something: assuming 100 000 consultations per month, 50 Euro each of them and 10% conversion into teleconsultations. Taking into account 40% of savings, total cost reduction is significant – 200 000 Euro. It is always up to you if you want to gain such money, but the decision seems rather simple…
The faster you join, the more you earn
“A range of companies are well-positioned to generate savings in terms of revenue and avoid potential pitfalls by deploying telehealth solutions.”2 – wrote Business Insider in its latest report about telehealth. In the USA the eHealth market is so wide and open, that not only healthcare entities want to invest in this branch, but also companies, which want to explore new dynamically developing markets. The situation in Europe is similar – telemedicine also grows stronger year by year. However, it is good to remember, that the faster you join, the more you earn and save (e.g. for other investments).