How do We Help Fix US Healthcare Spending?

November 9, 2015

7:00 pm

As it stands, the US spends 2.5 times more on healthcare per capita than other developed nations like France and the UK. What’s more, these counties boast significantly higher life expediencies than the US does.

So, where’s all this extra money going? Well, RubiconMD thinks that it’s being attributed to unnecessary, specialist referrals. As they tell me, approximately 40 percent of referrals are avoidable, and one in five referrals will actually result in duplicate or unnecessary tests and procedures. Their solution, which I don’t think is a bad one by any means, is to shift the market towards e-consultations.

It’s actually a growing trend that the RubiconMD team has noticed: healthcare companies are beginning to utilize referral management companies and specialty consult systems. By uniting this trend with the world of technology, RubiconMD can actually help solve the initial pain point while bringing specialty consultation to scale.

“RubiconMD was founded on the idea that expert medical knowledge should be accessible at the community level in a more efficient way,” says cofounder Julien Pham, former faculty at Harvard Medical School.

To date RubiconMD has a panel of approximately 150 specialists covering 100 specialties across 25 states, and their service has actually been shown to save people an average of $369. Further, they’ve effectively redesigned the experience of e-consultations to fit into the workflow of primary healthcare providers: that’s a crucial step to getting mainstream adoption.

RubiconMD Cost-Savings Impact Infographic

Everything is web based, and the platform includes proprietary algorithms for routing questions to the right medical experts. It also has a UI that ensures queries are issued correctly and efficiently.

“Innovation in healthcare will not only require more input from doctors, but also more participation in delivery innovation,” says Pham. “RubiconMD plays an essential role in this paradigm shift by enhancing interactions that already existed among clinicians, via facilitating the transfer of knowledge and experience from specialists to a community setting, where it creates value for primary care providers and their patients.”

Image Credit: Pixabay

 

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Will is a Senior Writer with Tech.Co, based out of America's Finest City: San Diego. He covers all territory West of the Mississippi river, digging deep for awesome local entrepreneurs, companies, and ideas. He's the resident Android junkie and will be happy to tell you why you should switch to the OS. When he's off the clock, Will focuses his literary talent on the art of creative writing...or you might find him surfing in Ocean Beach. Follow Will on Twitter @WJS1988

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