With the fate of healthcare still up in the air, many entrepreneurs and small business owners are wringing their hands at what the future may bring.
Unlike their corporate counterparts, SMB’s have more limited (and more expensive) options when it comes to health insurance. Yet, small businesses still need to offer this important benefit if they hope to attract top-quality employees.
Enter virtual care services, sometimes called telehealth. This relatively new form of healthcare can play a role in providing more accessible, convenient care while keeping overall healthcare costs lower. I spoke with Melanie Meyer, a healthcare consultant, to get the skinny on how SMB’s can use telehealth to keep costs contained.
What is virtual care?
Virtual care is a new form of healthcare where a patient has a consultation with a medical provider via a computer, smartphone, or other mobile device. Virtual care services are offered to provide easier access to healthcare services, particularly in areas where options for visiting a primary care provider may be difficult or limited.
Costs for virtual visits are known upfront and generally lower. Lower out-of-pocket costs (approximately $50 for virtual visits vs $100+ for a regular office visit) are another added benefit for employees.
The convenience factor is also a strong benefit, as a virtual visit may take 15 to 20 minutes and can be done from home or work vs. traveling to a doctor’s office or clinic and waiting to be seen. As a result, virtual care is becoming more popular.
A recent survey found that 77 percent of consumers would consider seeing a provider virtually–and 19 percent already have. By using virtual care services, health issues can be more quickly addressed as access is usually 24 hours per day, seven days per week. Increased access can lead to better health as employees are more likely to seek care when needed.
What small business owners should look for.
SMB’s need to carefully consider and select insurance companies who will pay for and/or support virtual care services. Insurance companies who offer “value-based programs” which focus on health outcomes are more likely to support virtual care services.
In addition, check to see that your healthcare provider offers a virtual care option as part of your plan(s). Many health systems or physician groups now incorporate virtual care services.
Another option is to offer virtual care as a standalone to your employees. Offering a no-cost virtual care benefit for employees may help keep out-of-pocket and healthcare costs down. Alternatively, virtual care does not necessarily have to be subsidized by the employer but simply packaged to allow those employees who are interested easy access.
Small business owners offering virtual care services for employees are likely to see less time required by employees for healthcare visits as virtual care visits can be “on-demand,” allowing for greater convenience.
Additionally, behavioral health services are also available now as virtual visits. A recent survey noted that more than half (56 percent) of employers are planning to offer virtual behavioral health services in the coming year.
While virtual care remains a new area of healthcare, service and reimbursement variations do exist. Currently, 36 states and the District of Columbia have a telehealth private payer law, though the specifics of laws vary by state.
As more virtual care options become available, employees will expect the convenience and price transparency of healthcare services, making virtual care a required option.