ChangeHealthcareNow is just getting started with the initial goal of bringing together and organizing a leadership team of a diverse cross section of industry experts. If you have healthcare provider, health plan, state or federal policy or agency, or other related healthcare experience, insights, and leadership WITH a desire to help our nation solve the costly healthcare challenge of administrative waste and inefficiency, please contact Walt Culbertson.
Over the past several decades, the focus of healthcare in America has been “how to spend more?” But the real question and solution that needs addressing is,“Why are we already spending so much?” The 2021 Annual Kaiser Family Foundation (KFF) Benefits Survey finds that the average annual cost for employer-provided health insurance for a family reached beyond $22,000 this year and almost $8,000 for individuals. A steady increase that appears largely unrelated to the coronavirus pandemic which is, however, impacting another looming crisis. The Medicare Hospital Insurance Trust Fund is now projected to become insolvent between 2024 and 2026. A short three to five years away.
When passed in 2008 the Affordable Care Act (ACA) was supposed to cut annual premiums by $2,500. That estimate assumed that the ACA would produce savings of 8 percent of national health spending projected for 2009, or $200 billion a year. Those savings were attributed to policies that were supposed to reduce payers’ and providers’ administrative expenses in part by expanding the use of health information technology (HIT) with a $35 billion investment from the 2009 economic stimulus legislation. But those reductions never materialized as intended. Many provisions from the ACA and stimulus were scaled back or poorly designed and/or implemented. As a result, administrative complexity, and costs have continued to skyrocket unchecked.
Simply put, the United States of America has a healthcare system that is not sustainable in either the public or private sectors and little is being done to address this fact. The only solution is to continually throw more money and more oversight at a fragmented system infected with profiteering middlemen, making healthcare even more complex, costly, and inaccessible for more and more Americans.
The U.S. spends twice as much on healthcare administration compared to other nations. Over one third of all healthcare costs in the U.S. were due to insurance company overhead and provider time spent on billing, versus about 17% spent on administration in Canada, researchers reported in Annals of Internal Medicine.
Annual premiums for employer-sponsored family health coverage reached $22,221 this year, up 4% from last year, with workers on average paying $5,969 toward the cost of their coverage.
The International Classification of Diseases, 10th Revision, Procedure Coding System (ICD-10) expanded the number of diagnose codes from 17,000 in 2015 to approximately 141,000 today helping fuel a provider/payer billing war as both sides battle to leverage the complex labyrinth of documentation to their benefit.
The Current Procedural Terminology (CPT) code set today contains more than 10,000 codes, CPT is the most widely accepted medical nomenclature used to report medical procedures and services (treatment) to health insurers.
Organized outreach efforts to Congress, HHS, and CMS to educate on the opportunity to commission a public and private collaborative task force designed specifically to identify and analyze concrete opportunities for healthcare simplification and the coordination of simplification implementation efforts across public and private sectors.
The persistent fragmentation of healthcare reflects inadequate coordination between providers of care. A variety of conditions make it more difficult for primary care practices to coordinate care including that most PCPs spend little time in hospitals and use siloed electronic health records (EHRs) while insurance networks complicate choice...
Healthcare is one of the only industries where those buying or selling do so without knowing how much it costs. It's typically not until the doctor receives the explanation of benefits (EOB) or a patient receives their bill that each knows the real cost. More than fifteen years ago electronic prescribing systems were created so that physicians could...
There exists almost a complete lack of understanding about how healthcare pricing is derived and the true costs to deliver patient care. There is little resemblance to actual costs associated with delivering services much less how to discern how those costs compare with the outcomes achieved. Hospitals in the United States...
Drug spending in the United States is at an all-time high and still rising. Studies have repeatedly shown that the U.S. pays far more for the same prescription drugs than other countries. Patients in the U.S. are far more likely to report that they can’t afford their medications and half of all adults with lower incomes go without care because of the cost.
Establish a renewed focus on Transitions of Care and how existing and proposed Health Information Technology (HIT) and Interoperability of medical records are being implemented. Launch a more profound dialog in understanding the challenges and opportunities of transitioning from unstructured text and consuming medical records from other...