In Depth: Are Startups Shaping Healthcare’s Future?

Strategic renovation.

 

The healthcare industry is developing at an exponential pace. Sometimes that’s a good thing, sometimes it’s a bad thing. For example, ACA’s induction and ineffectiveness were exponentially disastrous.  However, as a result of its introduction, secondary solutions have become a necessary component of the market, and those have expanded exponentially as well.

 

Additionally, the healthcare industry in the United States is widely subject to developing trends. Something else of a to look out for is the role of startup companies in healthcare. This may end up being something more significant than a simple trend.

 

Technology is playing a more integral part of the healthcare industry. Many have seen science fiction films where some “bionic” hand is developed which effectively mimics a real one. Well, today, that dream is more realizable than ever. In fact, many startup companies are pursuing ends just like these.

 

Twofold innovation.

 

Apart from tech startups bringing new, more affordable, health solutions to market, smaller businesses are being forced to determine means of providing health coverage for their employees. This is a market increasingly defined by options geared at larger numbers than those traditionally defining burgeoning companies.

 

So the smaller business has two choices. They could either relinquish some level of autonomy to be in alignment with a larger solution or come up with their own healthcare solutions for employees. Many vie for the latter if they can swing it. They often end up employing professional organizations and working with insurance brokers.

 

Now there are things a company can do to reduce associated costs. For example, if your startup company deals in the excavation of precious substances from underground, there are often “fines”. This term does not refer to fees. It refers to very tiny bits of rock and dust which can be inhaled and establish residence in the lungs.

 

If your business has unhealthy things like this silhouetting regular operations, healthcare coverage will likely be more expensive. However, on the other hand, if your business has that which is conducive to health defining it, you can save.

 

Cutting expenses.

 

In Japan, many large corporations make employees follow through with an exercise regimen on-site before their shift begins. For a startup up, investing into non-revenue generating expenditure may not be feasible.  A less capital intensive solution might be to offer employees bonuses for getting gym memberships locally.  You can then provide this information to associated healthcare facilitators and possibly save a bundle in insurance.

 

Insurance is a numbers game. It’s no secret that they are in it for the money, not for the wellbeing of their clientele. Ergo, you’re likely to get a less expensive rate if you’re at the peak of health. It is less likely, after all, that an insurance company will have to pay a settlement out to take care of you except in statistically unlikely situations.

 

Look into available professional employer insurance brokers and other options tangential to mainstream ACA provisions. ACA has been plagued since the beginning. What’s more, it is only a minor segment of the population that actually experiences benefit from this underthought and over-forced healthcare measure.

 

The new tax bill recently passed by the house has no provisions for healthcare in it. This is a very strong sign that ACA will sink below the waves of irrelevance very soon. Startups additionally realize this, which is yet another reason they’re exponentially revitalizing healthcare through seeking tangent options. So follow their example; find what works, do what you can to lower costs and experience associated benefits.

 

Editor’s comment: The information provided in this post is the opinion of the author and does not necessarily match the opinion of the publication and of the editorial team.

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