Tag Archives: Health Care Costs

Healthcare Podcasts: “Will New Hospital Price Transparency Rules Help You?”(HealthAffairs.org)

Health Affairs Newsmakers PodcastIn a WTOP-FM interview, Health Affairs Editor-In-Chief Alan Weil assesses how consumers may (or may not) benefit from two long-anticipated rules, recently unveiled by the Trump Administration, that increase price transparency for both hospitals and insurers.

Website: https://www.healthaffairs.org/do/10.1377/hp20191127.706970/full/?utm_source=Newsletter&utm_medium=email&utm_content=The+Lurking+Danger+In+The+%22Business+Case%22+For+Patient+Safety%3B+Podcast%3A+Hospital+Price+Transparency+Rules&utm_campaign=HAT+12-2-19

Health Care Costs: $250+ Per Visit “Facility Fees” Increasingly Charged By Medical Practices

From a New York Times online article:

Facility FeeFor new patients, whose visits entail more work than those of established patients, facility fees typically range from $131 to $322 per visit; for established patients, they are slightly lower. In surgical centers and free-standing emergency rooms, the facility fee can be thousands of dollars.

A facility fee is an additional charge that some medical practices can add to the cost of each doctor visit. The additional charge usually comes as a surprise because, unlike an exam or a test or treatment, the facility fee is not tied directly to hands-on care.

The purpose of the facility fee is to compensate hospitals for the expense of maintaining the physical premises. Hospital-owned, off-campus medical practices are also allowed to charge the facility fee to cover specific regulatory requirements, such as building codes, disaster preparedness, equipment redundancy and other items that are largely invisible to patients.

To read more: https://www.nytimes.com/2019/11/01/well/live/why-was-my-doctor-visit-suddenly-so-expensive.html

Health Care Costs: Top 5 Highest Paid Physician Specialties (PayScale.com)

From a Becker’s Spine online article:

PayScale LogoPayScale reports real-time salary data from over 54 million reports from job seekers, fact checking the data against private and public compensation data.

Here’s how average pay ranges for five physician specialties stack up:

1. Neurosurgeon: $401,499

2. Cardiothoracic surgeon: $387,451

3. Invasive cardiologist: $382,361

4. Orthopedic surgeon: $375,091

5. Gastroenterologist: $309,604

To read more: https://www.beckersspine.com/spine/item/47223-5-highest-paying-physician-specialties-neurosurgeon-no-1-at-401k.html?oly_enc_id=9129H5611090H0N

 

Health Care: Greater Use Of “Biosimilars” Could Save System $7 Billion

From a Health Care Finance News online article:

HealthCare Finance NewsBut greater use of biosimilars could create significantly more savings. If biosimilars obtained a 75 percent market share, less than the share of these medicines in many European Union nations, the resulting annual savings for the U.S. healthcare system could be nearly $7 billion, based on Winegarden’s analysis.

Not all drugs are created the same. Take generics and biologics: The former is a chemical-based medicine whose manufacture is easily replicated, while the latter is created using biological processes.

But there’s another key difference between those two classes of drugs, and it pertains to the financial state of the healthcare industry and to U.S. taxpayer dollars. Stated plainly, biosimilars have the opportunity to bring significant savings to state Medicaid programs and consumers with commercial insurance. That gives them a leg up over their chemical-based counterparts.

To read more: https://www.healthcarefinancenews.com/news/expanding-biosimilars-market-holds-potential-significant-savings-state-medicaid-programs?mkt_tok=eyJpIjoiTTJGbU1qTXpOVFpqTm1WbCIsInQiOiJrU3puNU4xNVB2eTBBVkpwQ3FGaWhYdDJwZEV0M1dlcFRBakNpOFZ5YVYyanpSSk9HeVZCQTBHbjY4ZktFXC82cm9JeWE3S2dUWm5HMXByYTVoOVB6SG9FaWRIWnRta2ZzZUNvN1g2WHVneVNtVEFpT1ZlZjEwWk1KbmFaXC9qN3N2In0%3D

Health Care: How “Non-Profit” Hospitals Are Driving Up Medical Costs

From an NPR online article:

Yale School of Public HealthThe irony is most hospitals are “nonprofit,” a status that makes them tax exempt. Many (but not all) do enough charity work to justify tax benefits, yet it’s clear nonprofit hospitals are very profitable. They funnel much of the profits into cushy salaries, shiny equipment, new buildings, and, of course, lobbying. In 2018, hospitals and nursing homes spent over $100 million on lobbying activities. And they spent about $30 million on campaign contributions. Health industries have also been funneling hefty sums into dark money groups. But their political power isn’t just the result of lobbying or electioneering. Hospitals are often the biggest employers in states and cities across America.

recent study by Yale School of Public Health economist Zack Cooper and colleagues takes a look at hospital politics and helps shed light on why American health care is so insanely expensive.

Cooper and his colleagues have spent years investigating whether this was true, filing Freedom of Information Act requests and crunching data. They’ve uncovered evidence that suggests it was true. They find that legislators who were on the fence and voted “yea” for the legislation were 700% more likely to see a large bump in Medicare payment rates to hospitals in their district. Between 2005 and 2010, Congress shelled out over $2 billion to 88 hospitals through the horse-trading Section 508 provision. It was a clear win for these hospitals, which spent the money on more equipment, buildings, services, and staff.

To read more: https://www.npr.org/sections/money/2019/10/15/769792903/how-non-profit-hospitals-are-driving-up-the-cost-of-health-care

Boomers Health Care : Connecticut Launches “HealthScoreCT.com” To Evaluate Costs & Quality

From a MiddleTownPress.com online article:

HealthScoreCT Cost InformationThe quality scorecard rates health care organizations through a five-star system on more than 30 health measures outlined by an advisory council composed of consumer advocates, providers, community organizations, state agencies, and payers. The range of measures focus on the quality of care provided by primary care providers and span more than 10 areas, including behavioral health, children’s health, women’s health, chronic conditions, and preventative health.

Health care organizations are also evaluated on patient experience in four categories: office staff, provider communication, timely care, and an overall patient experience rating.

Users can access interactive tables and graphs to compare provider networks, like Hartford HealthCare and Western Connecticut Health Network, to each other and the state average for any given health measure, such as asthma or diabetes. In addition, users can compare the overall performance rating of provider networks against all networks across all quality measures.

To read more click on following link: https://www.middletownpress.com/middletown/article/New-CT-health-care-rating-system-helps-patients-14290596.php

New Research Reveals Huge Hidden Costs Of Alzheimer’s Disease And Related Dementias

From a Science Daily online article:

Journal of Alzheimer's Disease“We found staggering inconsistencies between how costs of dementia are calculated across studies and our analysis strongly supports that current estimates fail to recognise the true costs of the diseases, such as Alzheimer’s, that cause dementia. Some studies have estimated that out of pocket expenses for people with dementia are up to one third of their household wealth in the final five years of their life, and that caregivers have healthcare costs that are twice as high as non-caregivers. We also found evidence that costs begin rising up to 10 years prior to diagnosis — we need to better measure and factor all these into future societal cost estimates.”

Some of dementia’s hidden costs explored in the analysis include:

  • People developing other health conditions, such as anxiety or depression, as a result of caring for someone with dementia.
  • Families forced to cut back on spending or to use savings to support their loved ones.
  • Reduced quality of life for people with dementia and their care partners/carers.
  • Costs that are incurred in the years before a diagnosis of impairment or dementia is made.

Currently, dementia is estimated to cost the US economy $290bn a year; the UK economy £26bn a year, and $1tn globally. A team of experts from institutions in the UK, Canada, Spain and the US reviewed existing evidence to assess what different costs are associated with dementia and analyse how these costs are measured.

To read more click on following link: https://www.sciencedaily.com/releases/2019/07/190730092616.htm