The steps are meant to be taken in concert with a host of other groups, including Americas Health Insurance Plans, the Advanced Medical Technology Association, the Service Employees International Union, the Pharmaceutical Research and Manufacturers of America and the American Medical Association. In short, the groups today identified three main areas where savings can be met. Those areas are in the utilization of care, where up to $180 billion in savings are projected; chronic-care management, which could yield $850 billion in savings; and in administrative simplifications, which at the high end are predicted to save $700 billion.
On May 11, the coalition made a highly public pledge to the president to do their part in helping lower overall healthcare expenditures by more than $2 trillion over the next decade.
On May 11, the coalition made a highly public pledge to the president himself to do their part in helping lower overall healthcare expenditures by more than $2 trillion over the next decade.
In todays letter, each group identifies a number of different areas where costs could be recouped.
For instance, AHIP said it would wring savings by moving toward a standardized and electronic way to deal with claims, submissions and payments. The group also said it would create a Web portal that will allow physicians to conduct business with insurers through a singular Web site. And PhRMA said it would support a well-designed comparative-effectiveness program.
Meantime, the SEIU said it wants to see expanded efforts on the home-care front, including bonus Medicaid payments to some states.
At least one key senator said he was unsure about the proposals. Im skeptical that these proposals will add up to anywhere near $2 trillion. In the legislative process, proposals rise or fall based on what (the Congressional Budget Office) says about them, and the same will be true here.
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