Health care cost-cutting with digital patient communication. As we know healthcare costs in the United States are expensive and finding solutions to reduce the costs are becoming critical. The United States has been spending highest administrative costs in the world because of busted, multiplayer, profit-based system.
Experts held a conversation on Tuesday at Fortune magazine’s Brainstorm Health conference in Laguna Niguel, Calif., Jared Watkin with health leaders. They stressed that health care cost-cutting with digital patient communication is now possible.
During the conversation, Jared Watkin, a senior vice president of Diabetes Care at Abbott discussed how the organization re-developed the FreeStyle Libre continuous glucose monitoring system (CGM). FreeStyle Libre is a device that provides glucose readings and patterns automatically throughout the day.
Watkin noted that CGMs were going to continue to be a suitable system for diabetes management but it was too complicated and costly for the people using the device. Then the company made changes and created an affordable device to meet customers’ requirement.
Dr. Toby Cosgrove, the former president and CEO of the Cleveland Clinic spoke about how the engagement between doctors and patients in the hospital affects the cost-cutting across the medical system.
“You can’t be a citizen any longer and not realize there are no more magical solutions to these problems,” said Dr. Reed Tuckson, a former executive for UnitedHealth Group Inc. and the American Medical Association, now an industry consultant.
“The increase in Medicare expenditures is so huge. And there’s no way that you’re going to have any kind of taxation that could possibly solve that dilemma.”