So, insurance companies end up paying higher amount of money for the services which end of the day might reflect in high insurance premium for the policy! If we analyze the situation of various stakeholders, one thing becomes clear that insurance companies make money when we are not in hospital and doctors make money when we are in hospital. We can clearly see that incentives of the two parties are not aligned and that abuses the patient in her care path.
Can we think of a possibility of using wearable technology to be used in monitoring the health of an insured person by a hospital 24×7? Where the duo of (doctors + insurance company) offer this device as a healthcare monitoring & insurance service. Where they are incentivized to keep the patient out of the hospital (as in doing preventive healthcare rather than curative)
It will be good to know the thoughts of the readers of this article? Do you think such an implementation is possible and if not why?
Thanks and Regards