Healthcare’s Most Innovative Companies of 2020: Updox
Updox commits itself to “cultivating an environment that is diverse and inclusive—with equal opportunities for everyone.” Updox is designed to organize all patient communications, secure and SMS texts, secure email, e-faxes, referrals, reminders, and even video chat in one engagement platform and one inbox.
It’s solutions are used by more than 350,000 users and 125 million patients, and are integrated with more than 100 electronic health records, according to the company.
Updox is a cloud-based, HIPAA-compliant solution offering a broad set of capabilities that increase patient engagement, improve internal productivity and increase revenue. Updox is based in Dublin, Ohio.
What is the single-most innovative technology you are currently delivering to health systems or medical groups?
Updox Video Chat. Pre-COVID, most practices never considered telehealth, as they thought it was complex, expensive and poised no reimbursement opportunities. COVID changed that. We’ve entered a new era of virtual care where more and more services will be provided remotely, and soon, telehealth will be essential, not a “nice to have.”
Updox made telehealth implementation simple with streamlined training, unbundling the solution to adapt to individual practice needs and increased customer service offerings so providers could get started within hours. Driven by the need and desire to continue social distancing, convenience and growing adoption by physicians, telehealth is fast changing the world of healthcare.
How is your product or service innovating the work being done in these organizations to provide care or make systems run smoother?
Updox is the place for virtual care and complete healthcare communications. Committed to simplifying the business of healthcare, Updox offers a broad set of innovative capabilities for patient engagement, provider communications and internal productivity that work together in a secure, user-friendly, easy-to-use platform. This includes our Video Chat solution.
Unlike others in the market, with Updox, healthcare providers can access a full suite of applications including secure text messaging, video chat, patient portal, appointment scheduling, automated reminders, on-demand patient messaging, credit card payments, and health alerts – all in one place. This drives improved outcomes through more efficient communications and better care coordination. Additionally, with the Updox telehealth platform patients can connect with their own physicians instead of someone unfamiliar to them – without needing to download any special apps. Healthcare partners benefit through improved relationships with patients and other providers, increased revenues, reduced costs, and enhanced business efficiencies.
What is the primary need fulfilled by the product or service?
Hospitals, health systems and pharmacies across the nation are using Updox’s platform to provide comprehensive and continuity of care — during a pandemic — that is secure, safe and personalized. The main difference in Updox’s telehealth solution is that we connect patients with their own trusted doctors (vs. Teladoc and others that match you with an unfamiliar physician in the queue). Especially during times of uncertainty, we know patients prefer seeing their own doctor. In fact, a recent Updox patient telehealth survey found that 49% of patients prefer being able to see or speak with a healthcare professional of their choice.
What is the ROI of said product or service? Provide real examples of verifiable ROI of the product or service when used in or by a health system or medial group.
For patients, telehealth offers a plethora of benefits, including cost savings, convenience and safety from potential exposure to infection.
A study from The American Journal of Emergency Medicine found that the net cost savings per telemedicine visit was calculated to range from $19–$121 per each visit (vs. an in-person visit).
For health systems, telehealth implementation is proven to save practices time and money. For example, practices can save an average of $200 per patient by reducing costs associated with missed or canceled patient appointments. In addition, according to a 2017 study, missed patient appointments cost the U.S. healthcare industry $150 billion per year. With the help of telehealth solutions – like secure video chat services – practices can recoup these losses and easily facilitate follow-up appointments, consultations and ongoing chronic condition treatments.
During COVID, many practices would have gone out of business without telehealth. For example, one Updox customer stated telehealth allowed them to see 75% of their normal patient volume — despite the pandemic. And, a separate customer reported that Updox allowed him to conduct more than 600 visits via Updox telehealth in the two months, and approximately 98% of his caseload has been via telehealth.