Is Virtual Health the Answer to Rising Healthcare Costs?

The Centers for Medicare and Medicaid Services (CMS) forecasts national health spending will grow at an average rate of 5.5% per year through 2027. With patients struggling with high insurance rates already, will virtual health be the answer for the future?

 

The inception of telemedicine seemed to at first begin as an assistant to the many medical professionals who felt overworked in their profession. Yet it was also a convenient way for many brief follow-up appointments to be held virtually, reducing the number of no-shows.

 

Just as any piece of technology continually advances, so too does virtual health. With healthcare costs on the rise, virtual options may be the only option for many patients.

 

How it saves the patient time and money

 

Gone are the days of long waiting room times and flipping through magazines until your provider is ready to see you. This was the system in place prior to the rapid advancements in technology, but patients no longer find it acceptable for doctors to keep them waiting. 

 

For a patient, virtual health saves them:

 

      Time: By allowing them to bypass the drive and waiting room times

      Money: The saved time allows for the patient to get back to their busy life

 

When it comes to Medicare patients and senior citizens in general, telemedicine becomes a much greater option as many office appointments are routine. Appointment types such as follow-ups can be conducted via a virtual conversation rather than an in-person review. This eliminates the need for transport to be scheduled as well.

 

How it saves the office time and money

 

Your medical practice is your place of business. There are overhead costs associated with running your practice and those begin to add up.

 

With virtual health, you can eliminate some of those unnecessary expenses. Staff can also be minimized or reallocated to other areas where assistance is needed. Office space can be reduced since there won’t be as great a need for a large waiting area to house those patients who were willing to calmly wait with a magazine in their hand.

 

At the same time, telemedicine offers the ability to schedule and conduct appointments virtually, which takes less time than in-person appointments. This means you can begin to schedule appointments in smaller windows, increasing the total number of patients seen per day.

 

Virtual health will continue to be the answer

 

The technology in our field is rapidly advancing. As time progresses, we continue to see the new and innovative ways researchers are assisting in our industry and it’s an exciting time to be a clinician.

 

Many providers, though, feel they are too overwhelmed with their current systems in place at their office and without free time to truly examine the benefits of turning their office virtual—or hybrid—they fear going down the path.

 

At Physicians Gone Wild, we hold our educational retreats at exotic destinations so you don’t even consider checking in with work. The clinical staff that attends our retreats are given valuable insight into the newest virtual health trends affecting our industry.

 

The best part? We end our sessions by noon every day, giving you time to network with colleagues while digging your toes in the sand.