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Leavitt Pitches Financial Transparency
Staff Reporters
According to Diana Manor, Senior Editor for Healthcare Finance News, the Department of Health and Human Services [HHS] Secretary Michael Leavitt was reported to say that he has no intention of slacking off in efforts to drive transparency into the US healthcare system, despite the winding down of the Bush Administration.
World Health Care Congress
At the Fifth Annual World Health Care Congress, held last week in Washington, DC, Leavitt reported that in his 272 days left as HHS secretary, he has “a continued sense of urgency” and plans on picking up the pace to drive much-needed change. “I am among those who believe our unbridled healthcare costs will bring our economic system to its knees.”
Among initiatives in the works, Leavitt said HHS is consolidating all healthcare quality standards used across its agencies and will publish them in an effort to boost their market-wide use.
Competitive Bidding
HHS is also experimenting with competitive bidding for bundled services, beginning with a Medicaid demo that HHS officials hope to expand in the future.
The Bush value-driven healthcare plan relies on healthcare IT adoption to record quality measures and aggregate and provide cost and quality information to consumers, but adoption by small physician practices remains at, or below, 10 percent. HHS plans in June to push Congress to tie physician Medicare payment incentives to the use of healthcare IT.
Assessment
Apparently, many HIT standards have been developed over the past few years, but are not being developed fast enough. Leavitt pushed for these HIT initiative back in December 2008, without success.
Conclusion
And so, do you think the next HIT push will be successful or not; and please comment why?
Related Information Sources:
Practice Management: http://www.springerpub.com/prod.aspx?prod_id=23759
Financial Planning: http://www.jbpub.com/catalog/0763745790
Risk Management: http://www.jbpub.com/catalog/9780763733421
Healthcare Organizations: www.HealthcareFinancials.com
Administrative Terms: www.HealthDictionarySeries.com
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The HIT Push
I believe the HIT push will be successful. The benefits of HIT will be greater then the costs. With the federal government spending approximately $1.8 trillion for 15.8% of GDP, any measure that can reduce costs need to be addressed; especially since the government will not cancel programs to provide health care. Consumer [patients] will also be pushing for change since they bear more medical costs.
Technology is already here with other industries, the medical sector should adapt quicker. After all, my ATM works in multiple locations that are not my bank. In conclusion, the HIT push continues and will not be a fad as long as it can demonstrate that it will [continue to] save money and improve care.
-Amaury Cifuentes; CFP™
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