Analysis on American Well Essay

3112 Words Apr 20th, 2016 13 Pages
American Well
To make health care coverage more affordable, the country must address the soaring cost of medical care that continues to increase at a dangerous rate. A greater focus is needed on the main drivers of medical cost growth: soaring prices for medical services, new costly prescription drugs and medical technologies, unhealthy lifestyles, and an outdated fee-for-service system.
More than one-sixth of the U.S. economy is devoted to health care spending and that percentage continues to rise every year. Regrettably, our system is not delivering value commensurate with, for example an estimated $2.5 trillion in 2009 spend on health care.1 These costs punish us on multiple fronts. For American families, the soaring cost of medical
…show more content…
American Well was created as an IT solution to enhance communication and interaction of the patient –physician – insurance experience. The delivery quality healthcare is one of the greatest challenges in today. Not that we’re necessarily lacking medical knowledge, however problems surrounding proper execution and effective management. It was then that Ido and Roy Schoenberg thought their company American Well would revolutionize the industry. That statement is truthful in many ways. In contrast with the traditional approach, patients would use IT to bridge the gap when seeking medical attention. Now with “Team Edition” being planned – presumably connecting primary care physicians and specialists, it certainly does piece the puzzle together.
In 2009 the waiting time for an appointment with a specialist on average was 7-60 days in the major cities (Exhibit 11). With online care, once a primary care physician (pcp) determined a consultation with a specialist was necessary, the pcp would log onto the system and find one readily available. Especially with chronic diseases on the rise, an early diagnosis can be a huge factor in effective care. It was totally convenient reducing geographical constraints and ultimately saving tons for insurance companies. Looking at Exhibit 9 – online care has the potential of saving insurers $3.36/patient per month, which in turn is cost savings for the patient; early

Related Documents