High Deductibles Creating High Costs for Patients

In the health insurance business, high deductibles were originally meant to help lower costs for patients while giving them more responsibility to pay, avoiding un-needed procedures and doctor’s visits. However, studies are finding that instead, high deductibles keep people who need medical attention from going to get it—and employers are beginning to question how effective these plans are for their employees.  Read more.  

What Factors Push the Costs of Health Care?

A recent study conducted by the Health Financial Management Association (HFMA), Leavitt Partners, McManis Consulting and the Commonwealth Fund looked at whether stronger incentives for value-based payment models and increased competition are effective in reducing the nation’s total cost of care. Based on the results of the study, recommendations include:
  • Government and commercial payers should continue to move toward models that increase financial incentives to manage the total cost of care.
  • The benefits of competition and benefits of integration should be balanced.
  • More transparent sharing of information on health care cost and quality should be shared among stakeholders. Read more. 

Americans Fear Medical Bills More than Serious Illness

Health care costs could be making Americans sicker as more people skip medical treatment to avoid high medical bills. The Cleveland Clinic has been studying this issue and recommends “standardization of care” and increased use of technology—including virtual visits— as two advances that could help reduce costs.  Read more. 

Cybersecurity is More Important Than Ever in 2018

A year after WannaCry and NotPetya ransomware created massive breaches for health care organizations, cyberattacks are only increasing—meaning health care facilities must be even more vigilant about their cybersecurity. In just the first six months of 2018, cyberattacks were up 13%. Information breached in an attack can be sold on the dark web and hackers are always looking to profit from stolen data.  Read more.  

Medicare Could Run Out of Money by 2026

Higher than predicted hospital spending and lower tax revenues could be major factors in Medicare running out of money by 2026 which is three years sooner than predicted last year.  Read more.  

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