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Friday, 03 April 2020 13:52

Standalone Telemedicine Offers Savings Opportunities

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Telemedicine has been a solution for employers and employees seeking more convenient round-the-clock care for years. Since the COVID-19 pandemic began and traditional in-person doctor’s offices have closed or moved to restricted visits, telehealth is no longer a novel benefit, but a vital part of any benefits package.

Through phone-based or video visits with board-certified physicians, employees and their families can save time and money using telehealth rather than visiting a doctor or urgent care setting in-person. This is a tremendous benefit for many families as deductibles and copays continue to increase, and as stay-at-home orders are in effect. These savings can also be passed on to the employer through lower claims costs and smaller renewal increases.

However, many telemedicine offerings through insurance carriers charge a copay to access them, which can discourage members from seeking care early and avoiding greater complications.

Alternatively, several stand-alone vendors offer telemedicine coverage with absolutely no member cost sharing for less than $10 per employee per month, and when all of the benefits are considered, the investment is a no-brainer:

  • Employees can skip an in-person doctor’s office visit and save the group’s medical plan between $100 and $200 in claims for each visit.

  • With ER and Urgent Care centers charging far more, a 24/7 telemedicine service can save thousands in unnecessary claims costs.

  • As employees discover the convenience and savings, and as participation increases, the savings potential grows even more.

  • Vendors are now offering more and more services through telemedicine including dermatology, back care, and behavioral health care.

  • Family members can often be added to telemedicine benefits at no additional cost.

With so much opportunity for savings, some vendors will even guarantee that you will see a return on your investment, or they will reimburse the difference! At a time when seeing a doctor face-to-face may not be a safe or available option, adding a standalone telemedicine benefit can offer substantial savings to you and your employees, especially when you have guaranteed savings.

For more information on how telemedicine can help your group save significantly each year, contact your Fall River Client Manager.

Read 556 times Last modified on Friday, 11 September 2020 13:14