Telemedicine: Reducing Patient & Provider Health Costs

The telemedicine movement is starting to take off in the U.S., and both patients and doctors are warming up to the idea. Patients plagued with mounting medical debt collections and tight finances, and doctors struggling to cover costs and keep their medical accounts receivable solutions in check, are figuring out the cost-saving benefits that telemedicine can have on their wallets.

For patients, telemedicine offers the ability to see a doctor from anywhere and for a lower price. This is especially beneficial to older or more fragile patients who have a harder time leaving their home, as well as for patients without a reliable form of transportation. In addition, a quick televisit can save patients time and money, not to mention it allows them to see a doctor even when their primary physician is overbooked.

Doctors are finding that telemedicine platforms allow them the possibility to improve their practice and provide better patient care. By using these services, physicians can communicate with existing patients, offer more affordable “visit” prices, and even improve quality of care by using telemonitoring services to keep track of more critical patients. For doctors looking to expand, telemedicine platforms can be used to reach patients who live farther out. They also offer the possibility of developing concierge services for a higher fee.

Whether it’s offering low-income patients more affordable “visit” prices, providing telemonitoring services to cut down on unnecessary office visits, or offering exclusive specialty services, doctors using telemedicine will likely notice a difference in their medical accounts receivable. Patients, on the other hand, can benefit from more convenient televisits and less costly services which, in turn, reduce the chance of unpaid bills going to medical debt collection services.