2024 Healthcare Cost Containment Strategies All Point to Primary Care As Crucial Benefit

In 2024, healthcare cost projections are poised to challenge the existing financial landscape, as outlined in PwC’s Health Research Institute (HRI) Medical Cost Trend Report. With an anticipated 7.0% year-on-year medical cost trend [1], the factors contributing to this rise include inflationary impacts, high-cost specialty drugs, and an increased demand from patients, placing strain on an already burdened health system.

However, amidst these challenges, there exists a beacon of hope in the form of virtual care, particularly in primary care and mental health services. Recuro Health is ideally positioned to offer robust solutions that align with cost containment strategies, offering a dependable source for value-based care in healthcare’s evolving landscape.

“Amidst the challenge of rising healthcare costs, our commitment at Recuro Health is to empower patients and providers through innovative care solutions. Our focus on optimizing chronic care management and enhancing mental health support aligns with our mission to contain costs while prioritizing access.” – Dr. Kate Sowerwine, Chief Medical Officer, Recuro Health

Recuro Primary Care Leads Cost Containment Incentives in 2024:

• Optimized Chronic Care Management: Chronic diseases contribute significantly to rising medical costs. Accounting for 84% of medical plan costs and $36.4 billion in missed workdays per year. [2] Recuro Health’s care platform allows patients to have immediate access to primary care physicians, facilitating more frequent and in-depth consultations to manage chronic conditions. In fact, 85% of PCPs reveal they do not have adequate time to support patients with a chronic disease. [3] Through Recuro Primary Care, we are actively reducing unnecessary ER visits and providing a platform where patients have regular access to a dedicate physician in order to better manage their ongoing chronic care needs.
• Addressing Deferred Healthcare and Catastrophic Claims: The impact of delayed or missed care due to various barriers, can drastically reduce patient outcomes and increase case costs. By encouraging regular wellness check-ups, preventive care, and hands-on disease management, Recuro Health aims to reduce the likelihood of catastrophic claims, aligning with cost containment strategies and ultimately reducing plan costs.

Additional Insights on Market Trends:

• Cost of Care Management: Chronic diseases are a significant driver of medical plan costs. Recuro Primary Care aims to mitigate these costs by empowering employees to manage chronic conditions effectively. Our platform enables frequent visits, fostering a deeper understanding of a patient’s health determinants that influence comorbidities. When in-person care is necessary, Recuro Health ensures referrals to in-network, high-quality specialists, considering factors like appointment availability and patient preferences.
• Enhanced Support for Behavioral Health: Recuro bridges the gap between growing mental health concerns and the physician shortage across psychiatry and counseling. Our Behavioral Health offering includes rapid response time, in-app referrals, easy prescriptions, and coordinated primary care. In fact, a recent study found that those with access to virtual tools were 2x more likely to book a mental health screening. [4]

In summary, Recuro Health’s care solutions are tailored to contain healthcare costs as businesses look toward optimizing their 2024 fiscal calendar. By emphasizing chronic care management, reducing the risk of emergency-related claims, and enhancing support for mental health – Recuro Health stands as a pivotal partner in the industry’s quest for cost containment and improved patient outcomes.

For more information, visit https://recurohealth.com/virtual-primary-care/

Sources:
[1] https://blog.ifebp.org/employers-project-7-rise-in-health-care-costs-for-2024/
[2] https://www.americanactionforum.org/research/chronic-disease-in-the-united-states-a-worsening-health-and-economic-crisis/
[3] https://patientengagementhit.com/news/primary-care-time-constraints-limit-chronic-disease-management
[4] https://jamanetwork.com/journals/jamanetworkopen/fullarticle/2796668