Employers to expand telemedicine, narrow network benefits to curb rising healthcare costs
As healthcare costs continue rise, employers are scrambling to a identify ways to reduce them.
In 2016, employers reported that they have seen a 5 percent increase in employee medical costs so far, according to a new survey by Arthur J. Gallagher & Co., an insurance brokerage services firm headquartered in Itasca, Illinois.
To address rising costs, the study suggested that employers will begin offering more telemedicine services since they tend to be cheaper and typically require much less of an employee’s time than a traditional doctor’s visit. The number of employers providing telehealth services could rise from about 25 percent to 42 percent by 2018.
Narrow networks, cost containment strategies that have become more available through the Affordable Care Act exchange, are also expected to increase. The study found that the number of employers offering narrow networks could rise from 18 percent to 27 percent by 2018.
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Senior Writer
As a Senior Writer for TriMed Media Group, Katherine primarily focuses on producing news stories, Q&As and features for Cardiovascular Business. She reports on several facets of the cardiology industry, including emerging technology, new clinical trials and findings, and quality initiatives among providers. She is based out of TriMed's Chicago office and holds a bachelor's degree in journalism from Columbia College Chicago. Her work has appeared in Modern Healthcare, Crain's Chicago Business and The Detroit News. She joined TriMed in 2016.