Turning Value-Based Health Care into a Real Business Model
The shift from volume-based to value-based health care is inevitable. Although that trend is happening slowly in some communities, payers are increasingly basing reimbursements on the quality of care provided, not just the number and type of procedures. But because most providers’ business models still depend on fee-for-service revenues, reducing volume (and increasing value) cuts into short-term profits. How, then, are innovative providers redesigning care so that, despite financial pain in the short term, they achieve long-range success?
Fidelitys Retiree Health Care Cost Estimate Rises To $245,000 A Couple
A couple retiring this year, both age 65, should expect to spend an estimated $245,000 on health care in retirement, according to Fidelity’s 2015 Health Care Cost Estimate. That’s present value, after-tax money you would need at age 65, sitting in an investment account, earning 4% after-tax going forward.
Emerging trends and enduring challenges in U.S. Health Care
The passage of the Patient Protection and Affordable Care Act of 2010 (ACA) ushered in a series of reforms to health care and health insurance markets in the United States. Importantly, from 2013 to 2014, the share of individuals without health insurance coverage fell to 10.4 percent—a decline of almost three percentage points, or 8.8 million people. Many of the ACA’s reforms are still taking hold, making it too soon to know exactly how they are affecting the health-care system, but it is clear that many enduring challenges remain. Looking ahead, these challenges center on three areas: enhancing access to health care; reducing waste in the delivery of high-quality care; and directing technological innovation toward productive medical treatments.
Health Care Industry Susceptible to Cyber Attacks
Health care organizations are a popular target for cyber attacks. According to a KPMG survey published last month, 81 percent of health care executives said their organizations had been hit by malware, botnets or cyber attacks at least once in the past two years.
The new Healthcare model: Beyond the pill, the premium and the patient
The Healthcare sector’s anxiety over revenue pressures came to the fore last week when a 5000% price increase on a life-saving drug by tiny, unknown Turing Pharma provoked a severe backlash, and at least one Presidential candidate rattled the sabre of price controls in response. Turing Pharma and its "pharma bro" CEO are just symptoms for the real disease facing healthcare: revenue growth anemia.
Emerging markets are leaving the U.S. in the dust on Healthcare
Universal healthcare is having a moment. In The New York Times last Thursday, The Rockefeller Foundation placed a full-page ad declaring its support for 267 economists from 44 countries who have argued that universal health coverage policies are morally urgent and economically efficient. Among the most famous signatories of the declaration was former Treasury Secretary Larry Summers, who in an op-ed in the Financial Times wrote that providing universal health coverage could exceed the costs of doing so by a factor of 10.
Watchdog: 900,000 vets may have pending Health care requests
Nearly 900,000 military veterans have officially pending applications for health care from the Department of Veterans Affairs, the department's inspector general said Wednesday, but "serious" problems with enrollment data make it impossible to determine how many veterans were actively seeking VA health care.
3 Smart Ways to Reduce Your Healthcare Costs
Healthcare costs are rising, and consumers are clearly concerned about it. Despite healthcare inflation running at lower levels over the past couple of years than at any point over the prior five decades, between 2005 and 2014 healthcare inflation outpaced the actual rate of inflation in every year except for 2008. That's concerning for consumers who aren't seeing much in the way of real wage growth.