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The Imperative to Act and Diverse Views of the Road Forward
The U.S.now spends $2.5 trillion annually on health care, accounting for well over 17 percent of GDP and growing rapidly with challenging fiscal consequences. Despite the imperative to control spending, we face much uncertainty about how to move to a more sustainable path.
Political opposition threatens implementation of the Affordable Care Act, and many of its cost-control measures are still unproven. A long-term fix for Medicare physician payment remains elusive. The trigger mechanism activated by the failure of the Super Committee is poised to affect myriad health programs, but decisions on the specific cuts await sure-to-be intense congressional negotiations.
And, the many ideas for entitlement reform that were advanced during deficit reduction talks continue to generate much debate but little consensus.
Topics
To shed light on these complex issues, this webinar will feature leading health policy experts discussing topics including:
- health spending growth and the implications for government budgets, employers and individuals
- the societal trade-offs we face as health spending grows and as we think about ways to control spending
- alternative viewpoints on the viability of cost control approaches now being tried and the most promising options for the future.
Assessment
Visit NIHCM Foundation’s website to view an agenda and additional resources on health care spending. And, please register by noon (EST) on February 1st.
Conclusion
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Filed under: Health Economics, Health Insurance, Health Law & Policy, Healthcare Finance, Videos | Tagged: ACA, Affordable Care Act., Controlling Health Care Spending, healthcare GDP, medicare, NIHCM Foundation, NIHCM Foundation Webinar, ObamaCare, physician payment reform, PPACA |
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Hiking Medicare Age Would Trim Outlays
Raising the eligibility age for Medicare would reduce the federal healthcare program’s outlays by about $148 billion from 2012 through 2021, according to estimates just released by the Congressional Budget Office.
The CBO expects that most people affected by an increase in the Medicare eligibility age would move to other forms of healthcare insurance, but there also would be a “slight” increase in the number of uninsured.
Of the 5.4 million people affected by the higher eligibility age in 2021, about 5% would become uninsured, and about half of the group would obtain insurance from either their employers or former employers, or their spouses’ employers or former employers.
Source: Jessica Zigmond, Modern Healthcare [1/10/12}
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5% of patients responsible for half of healthcare spending
Hospitals trying to curb rising healthcare costs should look no further than the 5 percent of patients who accounted for half of all U.S. healthcare spending in 2009, according to the latest data from the Agency for Healthcare Research and Quality (AHRQ). Those patients cost about $36,000 each.
Here is the study: http://meps.ahrq.gov/mepsweb/data_files/publications/st354/stat354.pdf
Hope Rachel Hetico RN MHA
[Managing Editor]
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Webinar Archive and New Materials Available on Controlling Health Care Spending
Washington, DC – March 2, 2012 – “The amount our country spends on health care continues to rise and is projected to reach 20 percent of GDP by 2020. This rising spending is not a new issue, but it is reaching a new level of urgency.” These remarks from Nancy Chockley, President and CEO of the National Institute for Health Care Management (NIHCM), set the tone for NIHCM Foundation’s latest webinar Controlling Health Care Spending: The Imperative to Act and Diverse Views of the Road Forward. This webinar, part of the foundation’s larger research focus on health care costs, invited four leading experts to address the economic realities of high and rising health spending and to exchange ideas on how we can move toward a more sustainable system.
Julie Schoenman from NIHCM Foundation began with an extensive graphical presentation that used the latest available data to describe current spending trends and their fiscal consequences. Michael Chernew from Harvard University then spoke about the consequences of rising spending, highlighting his research on the long-run impact of health spending growth that outpaces economic growth and laying out the implications of our choices about how to pay for growing spending. Jonathan Gruber from the Massachusetts Institute of Technology and James Capretta from the Ethics and Public Policy Center concluded the event with a point-counterpoint discussion of the road forward that included dialogue on the need to allow new cost-reduction efforts the time to play out and on proposals to make market-oriented reforms to Medicare.
Visit NIHCM Foundation’s website for resources from this webinar, including:
• an audio-visual archive of the event (NEW)
• printable presentation slides
• additional sets of slides supplementing Dr. Schoenman’s presentation (NEW)
• a bibliography of relevant background reading
• NIHCM Foundation’s 2011 study on health care costs
About NIHCM
NIHCM Foundation is a nonprofit, nonpartisan group that conducts research on health care issues. The Foundation disseminates research findings and analyses that promote and enhance access to health care and the efficiency and effectiveness of health care services and delivery.
Contact:
Nancy Chockley
President and CEO
NIHCM Foundation
email: nihcm@nihcm.org
(202) 296-4426
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