iLoveBenefits: Industry News Blog

National Health Spending Increased 4.3% in 2016

December 12, 2017

The CMS Office of the Actuary recently released national health expenditures for 2016. Here are some key findings from the report:

• In 2016, overall national health spending increased 4.3%.
• Retail prescription drug spending increasing 1.3% to $328.6 billion in 2016.
• Private health insurance spending increased 5.1% to $1.1 trillion in 2016.
• Medicare spending grew 3.6% to $672.1 billion in 2016.
• Spending growth for Medicaid slowed in 2016, increasing 3.9% to $565.5 billion.
• Out-of-pocket spending grew 3.9% to $352.5 billion in 2016.

Source: CMS Office of the Actuary, December 6, 2017

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)

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.

“Buying Into” Medicare

Health care issuers are already interested in a proposal that would allow Americans age 55 and older to “buy into” Medicare, according to Chris Jennings, a longtime health policy expert and adviser to Democratic presidential nominee Hillary Clinton. Jennings spoke on a panel during the Democratic National Convention featuring several prominent health policy players, including former Senate Majority Leader Tom Daschle (D-SD), Center for American Progress President Neera Tanden, Families USA Executive Director Ron Pollack and former head of the White House health reform office Nancy-Ann DeParle.

Hospital at Home model gains steam

Hospital at Home model gains steam as Mt. Sinai program cuts costs, readmissions

Monday, June 6, 2016 | By Zack Budryk

Cutting readmissions and reducing medical errors, the nation’s third-leading cause of death, are among the healthcare industry’s top priorities, and the secret to solving both may be stepping up home care, according to Oregon Public Broadcasting.

Nearly two years ago, New York’s Mt. Sinai Hospital premiered the Mobile Acute Care Team (MACT) program. This pilot program aims to deliver hospital-quality home care for patients who are at high risk for readmission. So far, the ongoing pilot has cut costs by nearly 20 percent, according to the article, while also reducing an unspecified percentage of readmissions and delivering high patient satisfaction.

Under the program, Mt. Sinai partners with community institutions such as Visiting Nurse Service of New York to provide home treatment for such conditions as chronic obstructive pulmonary disease (COPD), congestive heart failure, diabetes and urinary tract infections, according to a blog post from the hospital. “This is a real paradigm shift in medicine,” Mt. Sinai’s Linda DeCherrie, M.D., told OPB.  People will often say on first glance, ‘That sounds so great that we should definitely do that,’ but when you really get into it, it’s a totally different way of providing care.”

Medicare’s refusal to cover hospital-at-home services has kept many such programs from getting off the ground, but the Center for Medicaid & Medicaid Services’ Innovation Center awarded the MACT project $9.6 million in 2014 as part of its second round of Health Care Innovation Awards.

Nor is the MACT program the only example of such a program working; an internal analysis of the Humana At Home care management service found it cut hospitalizations among participants 45 percent while boosting survival rates, according toOpen Minds. Those Hospital at Home programs that have demonstrated consistent success have been connected to primary- and palliative care programs as well as disease-management programsFierceHealthcare previously reported.

To learn more: – read the OPB article – here’s the Mt. Sinai blog post – read the CMS announcement – check out the Open Minds post

Related Articles: How to make Hospital at Home programs work How transitional care cuts readmission risk First Medicare-approved transitional care center opens for business Readmission reduction solution: House calls How hospital-community partnerships can boost population health ER overcrowding solution: Community paramedicine

What are the long term implications to longevity

1 in 3 Adults Have Not Planned for Long-Term Care Needs

The Associated Press recently published their 2016 Long-Term Care Poll on attitudes and preparedness for long-term care. Here are some key findings from the report:

·         4 in 10 American adults over age 40 expect to rely on Medicare to pay for their long-term care needs.

·         One-third say they have done no planning at all for their own long-term care needs.

·         More than three quarters would prefer to receive care for themselves in their own home.

·         67% would prefer for their loved ones to receive care in a home setting.

·         Half of older Americans support government-administered long-term care insurance programs.

·         72% support state paid family leave programs to help Americans providing care to a loved one.

Source: Associated Press, June 1, 2016

Putting a Positive Spin on a Critical Problem

53% of Exchange Consumers are Satisfied With Their Health Plan

Deloitte recently published their 2016 Survey of US Health Care Consumers. Here are some key findings from the report:

  • More than half (53%) of exchange consumers are satisfied with their health plan overall.
  • 54% of those with employer insurance and 74% of those with Medicare are satisfied.
  • 7 in 10 exchange consumers say they had no financial difficulty paying out-of-pocket costs last year.
  • 34% of exchange consumers feel prepared to handle future health care costs compared with 16% in 2015.
  • Nearly half of exchange consumers (45%) say they feel confident about being able to get affordable care.
  • 67% of exchange consumers looked online for help selecting a policy vs. 30% with employer coverage.

Source: Deloitte, May 11, 2016

US Healthcare Spending $3 Trillion

U.S. Healthcare Spending was $9,523 Per Capita in 2014

Health Affairs recently published a study on national health spending trends in 2014. Here are some key findings from the report:

  • U.S. health care spending increased 5.3% to $3.0 trillion in 2014.
  • Health spending was $9,523 per capita in 2014, 4.5% higher than in 2013.
  • The share of gross domestic product used for health care was 17.5%, up from 17.3% in 2013.
  • Retail prescription drug expenditures increased by 12.2% in 2014.
  • Medicaid spending growth increased at a rate of 11%, compared to 5.9% in 2013.
  • The federal government’s share of health spending increased from 26% in 2013 to 28% in 2014.

Source: Health Affairs, November 2015

How pervasive are flu shots by age group?

According to a government report, the percentage of Americans who had received an influenza vaccination during the past 12 months, as of January-March 2015, was:

  • 71.9% of persons aged 65 and over
  •  50.7% of persons aged 50–64 years
  • 32.5% of persons aged 18–49 years
  • 51.2% of persons aged 6 months–17 years

Source: “Early Release of Selected Estimates Based on Data From the January–March 2015 National Health Interview Survey,” National Center for Health Statistics (NCHS), Centers for Disease Control and Prevention, September 2015, http://www.cdc.gov/nchs/data/nhis/earlyrelease/earlyrelease201509.pdf

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