Every day we hear stories of rising healthcare costs. What if a solution could drive cost savings and add value? Following my previous Black Friday blog post and continuing the trend of holiday deals and specials, we’re excited to announce the release of our new ROI calculator. This calculator estimates the total cost savings innovative digital health companies can realize for both themselves and their customers when switching from legacy integration solutions (such as HL7 and extracts) to Emissary®, our proven application programming interface (API) solution.
Black Friday is an exciting time of year, as we look forward to saving money on the newest technology. Chances are the new toys you’re buying – smart TVs, wireless headphones and Amazon Echos, to name a few— are on your list because they are easy to use. We expect these devices to seamlessly integrate with one another without having to worry about frustrating connectivity issues. In a few steps, I can configure my Echo to turn off and on lights, order a pizza or even water the garden.
The way we pay for healthcare services is transitioning from the old Fee-for-Service model, to a new model often referred to as Value-Based Care. Under the traditional model, healthcare providers were paid for “doing stuff” with little regard for the actual result. I do not mean to imply that providers didn’t care about results but rather, at least when it came to compensation, outcomes weren’t much of a factor. Augment this with a lack of transparency in pricing and you have a good recipe for rapidly rising healthcare costs. And that’s just what we got.