The telehealth market is poised for growth with $431M in venture capital investment being poured into startups in the space this year. Telehealth, or telemedicine, enables physicians to deliver care services to patients from a distance via communications tools such as videoconferencing, remote monitoring, and information-sharing platforms.
A tailored cost sharing program that helps beneficiaries pay for chronic disease care can reduce wasteful spending and increase access to chronic disease management services. However, relying on one-size-fits all cost-sharing plans can make it difficult for patients to access the preventive services they need to avoid costly acute events down the line.
Policy Experts to Legislators: Don't Forget Administrative Spending in Quest to Lower Healthcare Costs
David Cutler, Ph.D., a professor of applied economics at Harvard, told senators at a hearing on Tuesday morning before the Health, Education, Labor and Pensions Committee that healthcare administrative costs are a "major drain on the U.S. economy." These expenses cost about $1 trillion each year, twice what the U.S. spends treating patients with cardiovascular disease and three times what it spends on cancer care, Cutler said.
For years, home health agencies across the country have had numerous reasons to focus on reducing their 60-day re-hospitalization rate. Yet performance in this area has slightly worsened, the Centers for Medicare & Medicaid Services (CMS) noted in its recently proposed Medicare payment update for 2019.