Better Lives with Care.Wallet: Cutting Administrative Spending

The United States is well-known for overspending on healthcare. 17.8 percent of its GDP was spent on healthcare in 2016. There is no other advanced country that even comes close to the U.S. in annual spending on healthcare. Of that huge amount, administrative costs in the U.S. account for 8 percent of total national health expenditures, compared to 1 to 3 percent for other countries.

Another common argument is that the American system has a needlessly high number of specialists, who typically earn more than general physicians, and that grades up total spending. Doctors get paid more. Hospital services and diagnostic tests cost more. And a lot more money goes to planning, regulating, and managing medical services at the administrative level.

Solve.Care aims to reduce healthcare administration costs by providing a peer-to-peer payment platform that cuts out the middleman. As a payment and coordination platform, it also aims to give the power of payment to individuals and to empower payers regarding cost control and oversight. Individuals, doctors, insurers, employers, and government agencies can all benefit from the platform.

In addition, Solve.Care’s Care.Wallet helps providers and patients to communicate with ease. Each Care.Wallet includes Care.Cards, purpose-built applications inside a Patient’s Care.Wallet that fit the patient’s or provider’s specific needs. They can be single, linked to other Care.Cards, or stacked in decks. Care.Wallet and Care.Cards automatically and are instantly synchronized and securely shared with other Care.Wallets, creating an easier way to manage care plans for even the most complex medical conditions.

This delivers real-time healthcare coordination and administration for all users. A solution like this helps avoid unnecessary spending and noticeably reduces total healthcare costs for everyone.

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