“This gives physicians the capability to ultimately get paid more and be incentivized for keeping people healthy, rather than per visit and per procedure which is the current model under the fee-for-service reimbursement environment,” notes Kimball. “It requires population health management and proactive care, particularly for people with chronic diseases.”
“When you decide to forego necessary medical treatment because you’re worried about costs, you’re putting your health and maybe your life, at great risk,” said Kimball.
“I kept thinking that you had to get patients more engaged in their own health care and the financial aspects around that” Kimball told Medical Device Daily. “Because of this weird structure of our fee-for-service system, and because of the advent of the indemnity plan in which you pay a premium and the insurers pay most of the claims from doctors and hospitals, people haven’t even know what anything costs.”
“Payment and coverage for services delivered via telemedicine are one of the biggest challenges for telemedicine adoption. Patients and health care providers may encounter a patchwork of arbitrary insurance requirements and disparate payment streams that do not allow them to fully take advantage of telemedicine.”
“Teleheath is changing the way patients and families experience the continuum care. Healthcare providers will increasingly need to create effective and convenient home based, high touch and high tech solutions that work in a value based reimbursement or capitated environment,” said Richard Kimball, Co-Founder and CEO of healthcare technology start up HEXL.