improve employee health & control healthcare costs with direct primary care
TRANSCRIPT
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IMPROVE EMPLOYEE HEALTH & CONTROL HEALTHCARE COSTS WITH DIRECT PRIMARY CAREPresented By: Dr. Timothy MurrayFounder and CEO of Solstice Health
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Quick Housekeeping• Slidedeck will be posted on Solstice Health’s Website www.solsticewi.com
• We will have Q&A at the end, but feel free to ask questions throughout the webinar.
Quick Housekeeping
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• Healthcare Outpacing Inflation 2:1• Premiums Increasing Without Any Control• Claims Filings Increasing Causing Higher Premiums• Employee Benefits Being Cut• Poor Employee Health
Worker Illness and Injury Costs U.S. Employers $225.8 Billion Annually Productivity losses linked to absenteeism cost employers $1,685 per employee.
Source: http://www.cdcfoundation.org/pr/2015/worker-illness-and-injury-costs-us-employers-225-billion-annually
Employer Healthcare ProblemsWhere to Start……
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COST: Medical bankruptcy is the number-one cause of personal bankruptcy in the U.S.
TIME: 7-10 minutes average time with physician in fee for service model
ACCESS: 1 in 5 Americans lack adequate access to primary care
Source:
Source : Gallop
Employee Healthcare Problems
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Misaligned Incentives Drive Costs and Poor Health OutcomesThis system incentivizes doctors to
- Take on a high number of patients and see them as quickly as possible
- Perform high-cost proceduresCommon Averages:2,500 patients per physician7 to 14 minutes per appointment18.5 days wait time for an appointment
How Did We Get Here?
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Primary care is the essential foundation in the healthcare system.
Without affordable, accessible, convenient primary care, patients experience:
1. Costly avoidable visits to the ER2. Unnecessary visits to specialists for tests
and treatments that can be done in a primary care setting
3. Healthcare cost drivers avoid the doctor all together leading to a cascade of claims down the road.
The Result? Poor Health Outcomes
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SolutionSolution : Direct Primary Care
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Insurance cost + non profit hospital overhead + lack of transparency = $$$
Why Do We Eliminate Insurance?
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How Direct Primary Care Provides Significant Cost Savings
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How Direct Primary Care Provides Significant Cost Savings
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Current Healthcare System
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Characteristic Fee For Service Direct Primary Care
Panel Size Per Provider 2,000-3,000 600-800
Provider Incentive Volume-Based Quality-Based
Patient Access to MD Call Center 24/7 Access Via Telemedicine
Time Spent With Patients 7-10 Minutes > 30 Minutes
Annual Exam Specific & Brief Comprehensive with Lab Work
Access Extended Wait Times Same/Next Day Visits
Cost 400%+ mark up Wholesale Pricing
Coordination of Care Minimal Complete
Outcomes Highest spending with poorest population health
Superior health outcomes, lower cost, happy patients
Direct Primary Care Vs. Fee For Service
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Direct Labs
Solstice Health provides wholesale lab and toxicology services.
Direct Labs
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Solstice Health provides off-site direct imaging.
Direct Imaging
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Pill# Generic Brand Solstice Wholesale
Price
Average Retail price
100 Citalopram20mg
(Antidepressant)
Celexa $3.50 $269.08
90 Atorvastatin(Cholesterol
Management)
Lipitor $7.73 $18.87
100 Lisinopril 20mg(Hypertension Management)
Prenail/Zistril $3.43 $106.37
Direct Medications & Pharmacy Capabilities
Solstice Health Provides over 200+ wholesale medications.
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The Solstice Health mobile app provides patients 24/7 telemedicine access to Solstice Health’s primary care physician network. Patients can text, email, send photos or video conference with a Solstice Health Primary Care Physician in seconds through the mobile app. Solstice Health telemedicine services can provide a second opinion on an injury, illness or condition through our network of over 100+ specialists.
Telemedicine Services
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Complete Healthcare For Less Than A Monthly Cell Phone Bill