Current Telemedicine Technology Could Mean Big Savings
August 11 2014 - 9:05AM
Business Wire
Towers Watson expects a 68% increase in the number of
employers offering telemedicine in 2015
Telemedicine could potentially deliver more than $6 billion a
year in health care savings to U.S. companies, according to
analysis by global professional services company Towers Watson
(NYSE, NASDAQ: TW). An illustration of the program’s possibilities,
achieving this level of savings would require all employees and
their dependents to use the technology-enabled interactions
available today in place of face-to-face visits to the doctor,
urgent care center or emergency room (for appropriate medical
problems).
“While this analysis highlights a maximum potential savings,
even a significantly lower level of use could generate hundreds of
millions of dollars in savings,” said Dr. Allan Khoury, a senior
consultant at Towers Watson. “Achieving this savings requires a
shift in patient and physician mindsets, health plan
willingness to integrate and reimburse such services, and
regulatory support in all states.”
Thirty-seven percent of employers surveyed said that by 2015
they expect to offer their employees telemedicine consultations as
a low-cost alternative to emergency room or physician office visits
for nonemergency health issues, and another 34% are considering
offering telemedicine for 2016 or 2017. Currently, 22% of employers
offer such programs. The percentage of employers offering
telemedicine is expected to rise from 22% to 37%, a 68% increase.
These percentages are based on Towers Watson’s 2014 Health Care
Changes Ahead Survey of U.S. employers with at least 1,000
employees.
It is expected that the use of telemedicine will continue to
increase, driven by lower costs of telemedicine technology itself
and by more insurance companies supporting telemedicine to cut
costs. However, even among employers that offer such programs,
utilization is low. Khoury says that vendors generally claim
per-member utilization of less than 10%.
“With both insurance companies and employers encouraging its
use, telemedicine is going to have a growing role in the spectrum
of health care service delivery. We’re also likely to see that it’s
just the tip of the iceberg. Telemedicine is just one piece of a
broader telehealth spectrum that includes video, apps, kiosks,
virtual visits, wearable devices and other advancements,” concluded
Khoury.
About Towers Watson
Towers Watson (NYSE, NASDAQ: TW) is a leading global
professional services company that helps organizations improve
performance through effective people, risk and financial
management. The company offers consulting, technology and solutions
in the areas of benefits, talent management, rewards, and risk and
capital management. Towers Watson has more than 14,000 associates
around the world and is located on the web at towerswatson.com.
Towers WatsonMedia Contact:Rob Wyse, +1
212-920-1470rob@capital-content.com
Trustwave Holdings (MM) (NASDAQ:TWAV)
Historical Stock Chart
From Jun 2024 to Jul 2024
Trustwave Holdings (MM) (NASDAQ:TWAV)
Historical Stock Chart
From Jul 2023 to Jul 2024