We have witnessed the vulnerability of the healthcare system during the pandemic and how it needs to be digitally transformed. However, this reason is not it!
There’s a rising hunger behind the need for presenting online healthcare solutions that’ll make patients’ lives much easier, key areas being data sharing, equitable access, interoperability, behavior change, empowered consumers, and scientific breakthroughs.
But do you know what comes on top of that?
The pressure on the healthcare system in the US has never been higher than it is today. The soaring medical costs have become one of the biggest challenges for the country and its people.
Indeed, costly healthcare hurts everyone, which is why this article will precisely talk about the reasons and a substitute that will take the industry by storm.
Are you intrigued to learn more?
Then, continue reading!
Underlying Reasons for the Rising Healthcare Expenses in the USA
Listed below are some of the top reasons why patients might burn a hole in their pocket while seeking medical treatment in the USA:
High Drug Costs
Americans shell out about two times as much for pharma drugs as compared to the citizens of other countries spend. Notably, high drug prices are one of the primary reasons for overspending in the US compared to Europe, which has its drug prices regulated by the government.
According to a study, the US invests about $1,443 per person, while it is around $749 in other countries.
Another significant detail worth mentioning is that private insurers settle or negotiate drug prices with the manufacturer via pharmacy benefit managers. However, Medicare pays a colossal percentage of the overall drug costs are not permitted to do the same.
High Salaried Doctors and Staff
Did you know that specialists make way above $316,000 in the US, while the average US doctor earns more than $214,370 per year as 2020 analytics?
Don’t you think it is a reason good enough for the rising healthcare expenses in the country?
Hospitals Have Become Profit Centers
Hospital care comprises more than 31% of healthcare costs. The transition started in 2007 when hospital care accelerated rapidly. Not only this but the year 2020 witnessed a rise in hospital expenditure by 6.4%, which is $1.27 trillion.
Not to forget mentioning the surgical procedures, the overall expense has also exceeded the same when compared to other countries.
Defensive Medicine Practiced by the US Healthcare
Talking about numbers again, a CT scan costs around $97 in Canada and $500 in Australia. Therefore, the cost in the US has to be high, and the average expense is around $896.
Additionally, an MRI scan in the US costs $1,420, which explains why being sick in the country is so costly.
Exceptionally Varied Prices
Unquestionably, the healthcare system in the US is complex. However, it is also because of the absence of fixed prices that the medical service providers are free to charge, and the market will have to bear.
So, what’s the fix?
Entrepreneurs understood the need of the hour, which is lowering healthcare expenses, and emphasized the development of healthcare apps that offer relatively much cheaper medical services to a patient than visiting a hospital.
How are mHealth Apps Adding to Patients’ Convenience?
It is a frequently asked question due to the rapidly rising cost in the healthcare system. Therefore, service providers are now inclined toward hiring an exceptional healthcare app development company for diagnosing illnesses remotely and eliminating unnecessary expenses.
We live in a digital era and are more connected to our smart devices than ever! The healthcare industry is the soaking benefit of the same by introducing technological advancement and paving the way for tremendous growth.
So, how are mobile apps transforming healthcare apps for good? Here’s what you need to know:
Remote Health Monitoring
Have you heard about fitness bands or wearables? The wearable technology can be linked with fitness mobile apps for keeping track of one’s activities, including the number of steps, sleep cycle, etc. While these apps enable patients to track their health, it allows doctors to have access to the health records of their patients.
Elimination of Unnecessary Expenses
Since healthcare mobile apps allow patients to seek diagnosis remotely, there’s no commuting cost involved. Moreover, a doctor’s fee is justifiable compared to when a patient visits a hospital.
Additionally, medical reports can be accessed online nowadays, which again, saves a lot of resources.
One of the key advantages of using mHealth apps is its multiple payment gateways and frictionless process. Traditionally, people had to stand in queues to make appointments and pay hospital bills. However, mobile technology has made it much easier by allowing instant online payments.
Enables Choosing the Health Practitioner
Healthcare mobile apps incorporate a list of the best medical service providers, specialists, and more. While not everyone has the budget to pay a higher fee, these apps work as a single roof for every individual who wants to acquire a diagnosis online in their budget.
Patients can choose their medical partner depending on numerous factors and consult them for further assistance.
This is not it! There’s still a lot more that entrepreneurs and medical practitioners have to explore about healthcare trends, an amalgamation of modern technologies, and what not to keep up with the market.
Don’t you think now is your shot at excelling since customers are looking for desperate relief?