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Round Table: Top Ten Reasons for High Healthcare Costs

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Here are the top reasons (contributed by meeting attendees) for the high cost of health care in the United States. Our meetings are held monthly and announced here.: https://www.meetup.com/Chicago-Technology-For-Value-Based-Healthcare-Meetup

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Round Table: Top Ten Reasons for High Healthcare Costs

  1. 1. Round Table: Top Ten Reasons for High Healthcare Costs – 11/27/2018 These reasons were contributed by the meeting attendees… 1. Inability for state and federal governments to negotiate drug prices. 2. Number of years for patent protection promotes slow generic drug rollouts. 3. Lack of transparency in cost of procedures and treatment ahead of time. Prior to treatment, there is lot of uncertainties in costand nature of care, preventing patient from options that could be less expensive. 4. Lack of standard medical codes between providers and payer makes the reimbursementprocess cumbersome. 5. Existing silos in provider domain, lack of coordination in patient management and missing tools that could measurethe quality of the treatment. There is a huge gap in medical management or care coordination systems 6. Billing and coding errors during claim processing 7. Healthcare is being run as a business. 8. Overallnegligence & lack of education and awareness early on about health options & lifestyle. 9. People not taking responsibility for their health. 10.Preventative mindset is missing. Most of the care is reactive and treat the symptoms instead of doing rootcause in a holistic manner and curing the issue. For example, physicians don’tknow nutrition. 11.Missing value-based payment model (Fee for service is still most prevalent payment structure.)

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