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INSURANCE COMPANIES

Insurance Companies:

  • Want to decrease the rate of readmission into the hospital which would lower the associated costs. Annually, US Insurance Companies spend on average of $17 billion on readmission and 75% of these costs can be saved with early complication detection.
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  • Have increased interest in preventative medicine rather than treatment based medicine. Resulting from pressure to cut down healthcare expenditures and increased patient awareness.

 

  • Want more cost effective methods of detecting complications. Resulting in broadening coverage for various home patient services, including remote monitoring.

 

  • Want to prevent unnecessary post-operative check-ups since studies have shown that 10% of these are unnecessary. This places a huge burden on the healthcare industry, resulting in over $250 billion USD in post-operative checkups annually.

In the United States, about 20% of patients are readmitted to the hospital within thirty days of their discharge, and 7% of patients are readmitted within seven days. Patient readmissions are strenuous on the health of the patient and extremely costly. 

 

The average patient costs the healthcare industry $21,156 of treatment when suffering with a compilation. This is compared to $10,978 when they do not suffer from any post-operative complications; resulting in potential savings of $10,178.

 

Statistics have shown that preventable illness represents 80% of the burden to providers and 90% of all healthcare costs. Using NERv’s biochip, NERv promises that it can reduce the costs associated with doing routine, unnecessary investigations that are mainly done as a precautionary measure.

NERv’s Solution guarantees approximately a 33% reduction in costs by removing costs associated with the late detection of post-operative complications and the unnecessary routine investigations.