Israeli Technology Assists Americans Afford Healthcare

The United States Healthcare infrastructure and quality is highly robust and exclusively advanced. However, stumbling costs along with erratic medical coverage sets aside approximately 66 percent of American citizens concerned of whether or not they will be able to afford the exclusive medical care this year, according to a recent survey.

Going back five years from now, one in four Americans reported issues with paying a medical bill. These problems worsened with the emergence of COVID-19 resulting in 12 million U.S adults to witness a loss of health insurance coverage owing to the unemployment. During pandemic, Healthcare costs reflected the stay costing approximately $5,220 per day, and doctor’s visit cost ranging from $300 to $600. This scenario was also paralleled with one in three Americans delaying their decision to get care and treatment services, tests, and medications with the concerns of expense.

TailorMed, an Israeli start-up is offering the United States an automated system that enables identification of the financially handicapped or at-risk patients matching them with resources such as co-pay assistance or replacement drug programs, government associated subsidies, funds from community, sate-specific or disease-specific foundations, and programs that aid patients with living expense.

TailorMed was established back in 2017, and currently works with more than 50 hospitals coupled with 200 clinics, and 300 pharmacies spread across the United States, said Srulik Dvorsky, CEO of TailorMed. The company’s clients include Providence, which is third largest health system in United States, with its venture arm recently leading a $20 million investment round in TailorMed.