iLoveBenefits: Industry News Blog

Medicare Expenditures For 2014-2019 Will Be $4.3 Trillion

 

 

The Robert Wood Johnson Foundation recently released a report on health care spending growth trends. Here are some key findings:

 

National health expenditures (NHE) grew 3.6% per year between 2009 and 2013.
NHE grew 4.3% annually from 2010 to 2015.
Medicare expenditures for 2014 to 2019 are projected to be $4.3 trillion.
Private insurance expenditures for 2014-2019 are projected to be $7 trillion.
NHE per capita is projected to increase 4.6% per year from 2014-2019.
Medicaid enrollment is expected to increase by 2.7%.

 

 

Source: Robert Wood Johnson Foundation, May 2017

June 6, 2017 | Categories: Cost,healthcare,Medicare | Tags: , , | Comments (0)

What C-Suite Executives Want in 2017

26% of Californians Were Covered By Medicaid/CHIP in 2015

Some simply amazing data. How can this be?

Kaiser Family Foundation recently updated state fact sheets on Medicaid spending. Here are some key findings from the report on Medicaid in California:

• In FY 2015, Medicaid spending in CA was $85.4 billion.
• 26% of people in CA were covered by Medicaid/CHIP in 2015.
• 4 in 5 Medicaid enrollees in CA are in families with a worker.
• 34% of Medicaid spending in CA is for Medicare beneficiaries.
• One-fifth of state general fund spending in CA is for Medicaid.
• 58% of all federal funds received by CA is for Medicaid.

Source: Kaiser Family Foundation, January2017

Birth Defects Account for 5.2% of Hospital Costs

The CDC recently released an analysis of the hospitalization costs associated with birth defects. Here are some key findings from the report:

• Structural or genetic birth defects affect 3% of live births in the U.S.
• 20% of infant deaths in the U.S. are due to birth defects.
• Birth defects accounted for 3% of all hospitalizations.
• 5.2% of total hospital costs are attributable to birth defects.
• Birth defect–associated hospitalizations cost $22.9 billion in 2013.
• Cardiovascular defects accounted for 14% of birth defect hospitalizations.

Source: Centers for Disease Control and Prevention, January 20, 2017

January 30, 2017 | Categories: Cost,healthcare,hospitals,quality | Tags: , , , | Comments (0)

Seeing Medicare and Medicaid Patients

According to a recent survey, 73.1% of physicians do not limit the number of Medicare patients they see, and 63.7% of physicians do not limit the number of Medicaid patients they see. Source: 2016 Survey of America’s Physicians: Practice Patterns & Perspectives, The Physicians Foundation, September 21, 2016.

Educating patients and families on palliative vs hospice care is critical

Medicare Spent $11,393 per Hospice Beneficiary in 2014

 

CMS recently released an analysis on hospice spending. Here are some key findings from the report:

 

In 2014, Medicare spent an average of $11,393 per hospice beneficiary.
There were 1.3 million hospice beneficiaries in 2014.
11% had a live discharge from hospice care in 2014.
In 2014, 1 in 3 beneficiaries had more than 60 days of hospice care.
13% had more than 180 days of hospice care in 2014.
South Carolina had the highest spending ($14,778) per hospice beneficiary.

 

 

Source: CMS, October 6, 2016

Are your health records safe

According to a recent survey, 72% of U.S. adults are concerned that their online healthcare records are vulnerable to hackers, down slightly from 76% last year. Source: New University of Phoenix Survey Reveals Majority of U.S. Adults are Concerned Their Online Healthcare Records are Vulnerable to Hackers, University of Phoenix press release, September 28, 2016.  

62% of Exchange Plans Will Be HMOs in 2017

 

 

McKinsey & Company recently released an analysis of 2017 exchange plan designs across the U.S.

Here are some key findings from the report:

 

HMOs will comprise 62% of all plans for 2017.
68% of consumers will have access to competitively priced managed plans only.
The lowest-price silver plan premium will increase 9% for managed plans in 2017.
82% of consumers will have access to both managed and unmanaged plans in 2017.
For unmanaged plans, the lowest-price silver plan premium increase will be 18%.
97% of national plans will be managed in 2017, up from 62% in 2014.

 

 

Source: McKinsey & Company, August 2016

10% of organizations are considered ‘ahead of the curve’ in data maturity

 

According to a recent Vanson Bourne Global Data Protection Index:

10% of organizations are considered ,ahead of the curve, in data maturity.
8% of U.S. businesses are ,ahead of the curve,, the study found.
56% of organizations keep the IT environment on premise, while 29% use a public cloud.
27% of respondents indicated they would use backups for data protection.
20% indicated it would be easier to achieve backup and service-level agreements for disaster recovery.
The U.S. is ranked 14 of 18 countries when it comes to data maturity.
Source: U.S. Healthcare Industry Lagging on Data Protection, Healthcare IT News, August 22, 2016

Will you participate in the Precision Medicine Initiative?

According to a recent survey, 79% of respondents supported the proposed Precision Medicine Initiative’s planned national cohort study, which aims to tailor targeted treatments to specific diseases, and 54% said they would definitely or probably participate if asked. Source: “A Survey of U.S Adults’ Opinions about Conduct of a Nationwide Precision Medicine Initiative® Cohort Study of Genes and Environment,” PLOS One, August 17, 2016, http://journals.plos.org/plosone/article?id=10.1371/journal.pone.0160461

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