New App Launched is Expected to Save $104 billion Incurred in Doctor’s Visit Every Year

Published Date : Jun 30, 2015

Visiting doctor’s office every time we fall ill is an expensive affair. There are several segments on which we have to incur expenses for visiting a doctor’s office may be ones a month for routine check-up. Apart from shedding money for cost of co-pays, we also have to calculate the travelling expenses to the doctor’s chamber, and then we have to ensure efficient time management, so that our schedule of daily errand is not disrupted. 

Often there are instance when we our any of our family members is facing minor issues such as nausea or rash, that does not even require doctor’s attention. However, many of us end up visiting a physician’s chamber only to ensure that the symptoms doesn’t lead to any major health complication. 

But how would you like if you could cut down to expense of office visit?

According to a research study published by Goldman Sachs, eliminating the cost incurred on visiting the brick and mortar doctor’s offices and starting interacting with physicians through video conference platforms such as FaceTime and Skype, can save almost US$104 billion per year. 

According to a survey conducted in 2010, National Ambulatory Medical Survey, an average American visits doctor’s chamber at least 3.32 times a year. However, lead analysts of Goldman Sachs Kyle Conlee and David Roman believe, post Affordable Care Act, the size of the healthcare system in America has considerably increased. Hence, it is likely the number to have reached approximately 4.0 since 2010. The number adds up to a whopping 1.3 billion visits to doctor’s chamber in the U.S. alone every year. 

This is where latest technology can pitch in. The launch of services such as American Well and Doctor on Demand will allow patients to use their phones, laptops, and PCs to do video chat with doctors. Hence, with the app every time someone complains of irregularity, he or she will not have to visit the doctor’s chamber even for minor health problems. The app is designed to save a lot of money. Connecting to doctors through Doctor on Demand call will cost $40, whereas traditional visit to doctors can cost $200 in an average. Hence, these apps are likely to bring down costs by 75%.