[CHART] US employer medical spending will climb 6% next year — here’s how telehealth could help deflate costs

New Chart: Digital Health US employer medical spending will climb 6% next year — here's how telehealth could help deflate costs… Medical costs for US employers are expected to grow 6% in 2020, marking a four-year high following a plateau in growth that's persisted since 2017, according to a new PwC report. Specifically, we'll likely see an upsurge in employer spending on drugs and on care for the swelling volume of adults living with chronic illnesses: 62% of adults covered by an employer health plan have a chronic or complex chronic condition, and these individuals rack up as at least 3.5 times more in costs than healthy employees. Virtual care has shown promise for employers in mitigating overall healthcare spending. By steering employees toward telehealth, employers saved $216 per visit via First Stop Health, for example. And employers should be able to herd a significant portion of employees over to virtual care, considering almost half of consumers said they'd be willing to ditch traditional in-office visits for telehealth. Access Full Chart Data → * This chart and data is exclusively available to Business Insider Intelligence subscribers. You can get access to this chart and other timely updates when you sign up today. But consumer interest in virtual care varies depending on the use case, so employers can maximize cost-savings by deploying the telehealth services their employees are more likely to readily adopt: Giving employees access to telehealth for ongoing physical conditions could be the most cost-effective choice. Of the patients who'd be willing to pivot from traditional care to telehealth, 62% said they'd make the switch for the continuous care for a physical condition. Telemedicine providers are already developing programs for the care of chronic issues: American Well is exploring how telemedicine can be implemented for diabetes treatment, for instance. And not only are a significant portion of consumers bullish on telehealth for ongoing care, employers will likely have to make way for an influx of employees who could make use of it. The number of people with chronic conditions who are using employers' insurance has been trending upward: For example, US adults with diabetes covered by employer insurance rose 28% from 2008 to 2015, and that number may continue to tick up as more people develop the disease. Meanwhile, adopting telehealth for persistent mental health conditions might not pay off. Only 27% of consumers said they would forgo traditional care for virtual mental or behavioral care. So, even though we've seen... Subscribe risk-free to view the full analysis Here's a summary of what you'll receive when you subscribe to Business Insider Intelligence today: Over 275 immediately accessible research reports and data-sets, including The Digital Health Ecosystem Report report. At least 15 new Digital Health reports over the next 12-months. Insightful newsletters and charts about everything important taking place within the fintech space. 14-day money back guarantee period so you can access all of the above risk-free! Other chart highlights you don't want to miss US patients say they want digital tools from doctors, but they're not using what's available — here's how docs can fix that Healthcare consumers demand convenient… Access Full Chart → The Medicare Advantage market is booming, yet only 3% of entrants have seen high member growth — here's why The number of Medicare Advantage (MA) enrollees… Access Full Chart → These are just a few of the charts made available to Business Insider Intelligence subscribers. Subscribe to Business Insider Intelligence today and you'll have instant access to 100s of charts like these, daily briefings in eight key coverage areas and a members-only Research Center filled with insightful reports. Sign up Risk-Free Today Copyright © 2019 Business Insider, Inc. All rights reserved.

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I'm an American who's lived in Europe for 10 years — and I don't miss these 5 aspects of American culture at all

Living abroad has taught me a lot about America, and has revealed some aspects of American society that I'm glad I left behind.

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I'm an American who's lived in Europe for 10 years — and I don't miss these 5 aspects of American culture at all Living abroad has taught me a lot about America, and has revealed some aspects of American society that I'm glad I left behind. Read More »

How to remove gel nail polish at home without ruining your nails Gel nail polish can be particularly tricky to remove. Here is a step-by-step guide on how to remove gel nail polish at home. Read More »

The RealReal could be valued at $1.6 billion when it starts trading on Friday. Here's what you need to know about the used-luxury-goods startup's IPO. The RealReal isn't profitable, but it grew its revenue by 55% in 2018 and plans to take over the luxury-consignment market. Read More »

The 2019 NBA free agent class is stacked and has the potential to alter the league — here are the best players available The 2019 NBA free agent class is not just star-studded, it's deep, and expected to have lots of movement. Read More »

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Intel insiders admit in a leaked document that the threat from arch-nemesis AMD is the 'greatest in years' thanks to its 'clear focus and direction' AMD has made a big comeback, and even Intel has had to acknowledge the threat in a leaked document circulated among employees. Read More »

Trump says he'll 'immediately' appeal a federal judge's ruling that blocks spending $2.5 billion on border wall Trump vowed to appeal a ruling blocking his administration from using $2.5 billion in funds for anti-drug activities to construct a border wall. Read More »

Donald Trump Jr. shared a racist tweet about Kamala Harris and then deleted it after it went viral, fanning the flames of a new 'birther' conspiracy The tweet that Trump Jr. promoted falsely argued that Harris, born in California to Indian and Jamaican parents, isn't a black American. Read More »

Analysts think that Jony Ive's departure is a sign that one of Tim Cook's top lieutenants is becoming even more powerful Apple design chief Jony Ive is leaving the company, but it's really the leadership shift within Apple that could have a broader impact on its future. Read More »

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