Report shows governments might save up to $1 billion per year by implementing virtual healthcare platforms by 2025
A report co-sponsored by Sun Life Financial and Dialogue Health Technologies, Canada's leading health and wellness virtual healthcare platform, offers a glimpse at the economic impacts associated with Dialogue's telemedicine adoption in the Canadian healthcare system.
The research conducted by AppEco, titled The Economic Impact of Telemedicine in Canada, assesses the net benefits Dialogue and Lumino Health Virtual Care provide to Canadian governments, employers, and patients. It underscores the past growth trends and ongoing adoption of telemedicine services in the country.
According to the report, enhanced adoption of telemedicine platforms such as Lumino Health Virtual Care, powered by Dialogue, results in cost and strain reduction in Canada's healthcare system. The research focused on Dialogue and Lumino Health Virtual Care's operational models, which allow enterprises to engage in their employees' health and well-being while never charging provincial governments for consultations.
In Canada, for example, a visit to the emergency department costs the public healthcare system $202, whereas a consultation at a doctor's office or clinic only $44. Based on economic modeling, the research concluded telemedicine systems like Dialogue and Lumino Health Virtual Care save the Canadian healthcare system $52 on average for each consultation that would have taken place under regular public care.
As telemedicine adoption rates increase, platforms like Dialogue are expected to save governments up to $1 billion each year by 2025.
"Access to healthcare, both for physical and mental health issues, is the challenge of the next decade," Jean-Nicolas Guillemette, Chief Operating Officer of Dialogue, commented. "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 Economic Impact of Telemedicine in Canada paper also looks at the financial benefits that telemedicine platforms like Dialogue and Lumino Health Virtual Care can provide to Canadian enterprises.
When considering productivity lost due to employee transportation, waiting hours, net cost of treatment, and other variables connected with in-person care, companies who offer Dialogue telemedicine as part of their group benefits report a 32% Return on Investment (ROI).
President of Sun Life Health, Dave Jones, said, "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. The need for timely, convenient access to care is top-of-mind for Canadians.
“Platforms like Lumino Health Virtual Care, powered by Dialogue, help address the challenges our healthcare system faces,” Jones added. “Virtual care plays a critical role in supporting Canadians to live healthier lives."
