A new report co-sponsored by Sun Life Financial and Dialogue Health Technologies has found that the increased adoption of telemedicine services could save not just the healthcare industry, but also companies and governments, a lot of money.
The report, entitled “The Economic Impact of Telemedicine in Canada,” looked into the increased adoption of telemedicine platforms, such as Dialogue’s Lumino Health Virtual Care. It found that while the average cost to visit the emergency department in Canada would be around $202, and an average visit to a doctor’s office or clinic would cost $44 per consultation, telemedicine platforms would save the Canadian healthcare system $52 on average for every consultation that would have otherwise been processed through standard public care.
The report concluded that as telemedicine adoption rates continue to rise in Canada, it is estimated that telemedicine platforms could save governments up to $1 billion annually.
“Access to healthcare, both for physical and mental health issues, is the challenge of the next decade,” said Dialogue chief operating officer Jean-Nicolas Guillemette. “I believe this represents an opportunity to improve access to care for Canadians by encouraging employers, insurers as well as other organizations to invest in the health of their members. Our approach allows for new investments in healthcare at no cost to the government and ensures access to care remains for patients.”
The report also found that companies that offer telemedicine as part of their group benefits see on average a 32% ROI.
“As the largest provider of group benefits in the country, we understand the important role employers have in the physical and mental well-being of Canadians,” said Sun Life Health president Dave Jones. “The need for timely, convenient access to care is top-of-mind for Canadians.”