Cost shifting has reached tipping point to trigger federal & state intervention
Tipping points are "the levels at which the momentum for change becomes unstoppable."
$800,000,000,000 in potential savings!
What Cost Control Options do Employers currently have? Unavoidable Costs Cost Sharing (5% to 10%) Coverage Elections (0% to 15%) Plan Selection (5% to 10%) Provider Selection (5% to 10%) Prescription Therapies (5% to 7.5%) Disease Management (5% to 10%) While no silver bullets will solve the health care crisis, aggressive strategies in two to four areas will have a dramatic impact.
Lowering Health Care Administrative Costs Through a Public-Private Approach to Health Reform
The United States leads all industrialized countries in the share of national health care expenditures devoted to insurance administration.
Estimated administrative costs would fall from 12.7 percent of claims to an average of 9.4 percent. Savings—as much as $265 billion over 2010–2020—would be realized through less marketing and underwriting, reduced costs of claims administration, less time spent negotiating provider payment rates, and fewer or standardized commissions to insurance brokers.
http://www.hhs.gov/transparency/ - The “Four” Value Driven Health Care Principles. Health care transparency provides consumers with the information necessary, and the incentive, to choose health care providers based on value.
www.netwellness.org – 100 health topics to find in-depth information on hundreds of diseases and wellness issues
http://www.insureuonline.org/ - The National Association of Insurance Commissioners (NAIC) has created the Insure U — Get Smart About Insurance program to help consumers make educated decisions.
www.organizedwisdom.com - OrganizedWisdom is a collaborative health information community, combining professional and user-generated health content with social networking technologies to help people make the most informed health decisions possible .