On June 29th, 2021, K Health announced a significant increase in the subscription fee for its telemedicine services. The price will jump from $9.99 to $19.99 per month, which is likely to affect over a million patients who relied on their services for affordable medical consultations.
The price hike is attributed to the rising costs of healthcare, which have increased by 33% in the past year alone, according to K Health CEO Allon Bloch. The company has also invested in expanding their services beyond the initial healthcare chatbot model, now offering online consultations with licensed physicians, lab tests, and prescription delivery.
While K Health has positioned itself as a low-cost alternative to traditional healthcare, the recent price increase may price out those who can least afford it. Patients who rely on K Health services may not have health insurance or have high deductible plans that make it challenging to access medical care, particularly for preventive care.
Moreover, for some, the increase is not just a matter of paying twice the fee. Patients who are on chronic medication may have to pay out-of-pocket for additional prescriptions filled by K Health, which will further add to their expenses.
However, K Health has argued that the increased pricing is a necessary measure to ensure the standard of care provided to patients is not compromised. K Health has announced that they will be hiring more doctors and expanding their telemedicine capabilities to cover a broader range of medical conditions.
The company will also use the additional revenue to expand services such as chronic care, mental health treatment and investment in improving the overall patient experience. K Health has also announced a new feature – K Complete, which provides patients with access to doctor consultation services, lab tests, and prescription medication delivery services.
In conclusion, while the K Health price increase may affect patients adversely, it could also result in more comprehensive telemedicine services, which may be more beneficial to patients in the long run. However, it also begs the question of how telemedicine pricing should be structured to balance affordability and sustainability, particularly for underinsured populations.
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