At Seek, you’ll hear us throwing the term “democratizing healthcare” around a lot. We promise you that it’s not an ambiguous buzz phrase dreamt up by our marketing team. We sincerely believe that we can democratize healthcare in a way that saves money for patients, generates more money for health institutions, and circulates more health information to the general public. That also probably sounds like marketing fodder, but we are able to back this up statistically.
For the average American citizen, if you’re not fortunate enough to have health insurance provided by your job or be able to afford it, you will receive a subsidy under the Affordable Care Act, also known as Obamacare. According to CNN, the average monthly subsidy for Obamacare is $264 for the most popular plan (The Silver Plan). That leaves an $82 premium that the average subsidy receiver has to pay per month. The Silver Plan covers 70% of out of pocket healthcare costs. Now let’s compare that to actual hospital costs.
The average cost for a physical checkup is $116.
According to Aetna, the average cost of a hospital stay is $1,700 per day.
And this just covers the base level of hospital services. That doesn’t cover if you have to get heart surgery, if you break a bone, etc. 70% is pretty good coverage, but when you consider that subsidy recipients typically make less than $45,000 a year and have various taxes and living expenses, Obamacare can only cover so much. So what do most people do when faced with those numbers?
They simply don’t go to the hospital. Most hospitals that accept the Affordable Care Act are public hospitals and most Affordable Care Act recipients go to the ER, causing overcrowding and long wait times. You can see this documented in a famous documentary titled “The Waiting Room”. This causes hospitals to lose money and citizens who need care to go untreated in order to save themselves money.
That does not need to happen. At Seek, we are changing those economics with our software platform. If you want to learn more, reach out to us. We promise you’ll like what you see.