5 Ways Telemedicine Keeps Company Healthcare Costs Down

Large companies reported that their total cost of healthcare, including premiums and out-of-pocket costs for employees and dependents, would rise to $15,500 per employee in 2021, up from $14,642 in 2019, according to the National Business Group on Health. CMS predicted national health spending would grow about 5.5% per year through 2027.

Many companies simply cannot sustain that kind of yearly increase and need cost-effective options to keep company healthcare costs down. One of the best is incorporating telemedicine into the benefits plan. Virtual visits lower the total cost of care for many conditions, and under the right circumstances virtual care leads to significant savings.

Here are five ways telemedicine helps keep company healthcare costs down.

1. Employees receive care quickly

Virtual care happens from the comfort of an employee's home and is usually available 24/7, so employees get diagnosed quickly and receive treatment within hours of their first symptoms. Imagine a consultation with a doctor within an hour of calling in symptoms from your couch. The employer gets an employee back to work sooner, without days off for multiple doctor visits, and early treatment usually means quicker recovery. Employees also avoid driving to urgent care or the ER when illness strikes outside business hours.

2. Low-acuity care is available at any time

With telemedicine that includes mobile care like EZaccessMD, treating non-emergency conditions like a sore throat, dizziness, bronchitis, or the flu can be completed from home.

The average cost of treating non-emergency conditions through the emergency room was $2,032 at the time, roughly $1,800 more than a doctor's office visit. Two-thirds of ER visits are avoidable, and those unnecessary visits cost the healthcare system an estimated $32 billion per year. That cost shrinks dramatically when 24/7 telemedicine replaces time-consuming, costly ER runs for illnesses that don't need an emergency physician.

EZaccessMD joins telemedicine with mobile diagnostics so common health issues are treated within reach, all from an employee's home. Using portable medical equipment, EZaccessMD diagnoses and resolves issues with fewer visits and less time. EZaccessMD reduced low-acuity urgent care visits for enrolled members by 31%.

3. Easily accessible health screenings

Regular health screenings keep employees engaged in preventive care, which reduces missed work and heads off expensive medical costs later. With telemedicine and mobile healthcare, screenings can be done at the workplace: employees walk down the hall to a designated room, complete a screening, and return promptly to work. Employees can also schedule their own screenings during lunch breaks or before or after work, with no time off and no driving.

4. Save time and costs with in-home mobile testing

In-home mobile testing with follow-up care cuts out drive time entirely. With a provider like EZaccessMD, cost-cutting services can be ordered by the physician immediately after a virtual visit and delivered through mobile care:

• ✓In-home lab tests (flu, strep, urinalysis, COVID-19)
• ✓In-home X-rays and ultrasounds
• ✓Ear, nose, and throat exams at home
• ✓Mobile EKG and echocardiogram
• ✓Accurate prescriptions informed by diagnostic testing done first

Bedside testing also eliminates the exorbitant costs associated with testing in a traditional facility setting.

5. Lower premium costs

Fewer physical office visits, fewer prescriptions thanks to preventive screenings, and fewer out-of-pocket costs are the levers that earn a company lower rates. Telemedicine appointments generally bill for less than comparable in-office services, so insurers pay less on claims, which helps keep premiums more affordable for employers and employees alike.

Programs like EZaccessMD decrease employer healthcare costs by bringing down the number of filed claims: employees access care for common, less serious illnesses through EZaccessMD instead of running them through the health plan. And EZaccessMD requires no copays.

The bottom line

Both employer and employee win when a virtual care option is available. For the employer, it's an easy, effective way to cut healthcare costs. For the employee, it's a convenient way to use health benefits from home while avoiding time-consuming appointments, urgent care facilities, and the ER.

EZaccessMD pairs telemedicine with mobile urgent care, offering diagnostic testing and imaging in the home or workplace, and delivers utilization many times the traditional telemedicine average.