A hundred years ago, close to half of all doctor’s visits in the U.S. were house calls—physicians meeting patients in the patient’s home for discussion, diagnosis, and treatment. But in the 21st century, the house call has become nearly obsolete—or has it?
CVS Health, the parent company of the CVS pharmacies that dot intersections around the country, will now acquire Signify Health, a healthcare platform that aims to connect patients to care in creative ways, including through house calls.
What could this change mean for HR? Let's take a look.
Signify uses advanced analytics to expand care beyond the traditional doctor’s office or hospital visit. With facilities struggling to stay staffed, emergency rooms overflowing, and wait times longer than ever, Signify currently offers house calls to 2.5 million people around the country. And their acquisition by healthcare giant CVS is likely to bring this service to many more people in the coming years.
All this is part of CVS Health’s goal to expand care and increase its stake in value-based care, a healthcare model in which providers are paid based on patient outcomes rather than services delivered. As healthcare costs rise and more and more purchases happen online rather than in stores, CVS’s move into the home is a response to both these aspects of our “post-COVID” world.
The pandemic spurred many changes in healthcare and how our society operates, and CVS’s acquisition of Signify is another sign of this change. Here’s what to look out for as healthcare delivery evolves:
If it were an isolated incident, this business merger likely wouldn’t revolutionize day-to-day life at small to midsize businesses. But CVS’s move into primary care is part of a larger trend of major companies getting involved in the healthcare industry, and that could mean changes to your benefits offerings.
While we can’t predict the future, here are some ways nontraditional care options could save your organization money on healthcare benefits:
As healthcare costs rise and recession fears loom, employers may need to get creative with benefits offerings. With so many creative care options becoming available, value-based care and home health visits may help to lighten the load without sacrificing quality care for your employees.
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