Health Plan For Increase Expenditure - 898 Words

There are a number of products and initiatives being used by health plans to control expenditures and maintain market competitiveness. Recent slowing in health expenditures has largely been due to price changes, a shift from inpatient to outpatient care, and increased coverage. However, here I will focus on operational changes within the health plan that can be made to decrease expenditures. I will discuss how investing in disease management programs, wellness incentives, and value-based insurance design now can be used to control rising healthcare expenditures in the future while adding value for consumers. I will also discuss the challenges involved with implementing these initiatives. Disease Management Programs: Background A small portion of the patient population accounts for a disproportionate amount of health care expenditures primarily due to chronic illness (Shelton, 2002). Because of this, and the overall rise in healthcare costs, stakeholders have been searching for ways to target this small but expensive group of people. One way is through disease management programs. It is a common belief that education and preventive measures make it easier to manage chronic illness and reduce adverse outcomes including lengthy hospitalizations (Shelton, 2002). Although these programs are fairly new and there isn’t much data to support or refute their success, this is an area worth exploring to potentially curve skyrocketing healthcare expenditures. Cost Control MethodShow MoreRelatedIndia s Government Expenditure On Health1322 Words   |  6 PagesLanka was 64.7% and 45.6% of total expenditure on health, while that of India in the same year was only 17.3%. In the year 2005, the government expenditure on health for Thailand and Sri Lanka was 63.9% and 46.2% of total expenditure on health, and India though it remained significantly low had a small increase from 17.3% to 19.0%. This data shows the very low priority accorded to the health sector by the government in India. In 2007, according to WHO‘s World Health Statistics, India ranked 184 amongRead MoreResults. Main Regression Results. A Key Part Of Their Findings1385 Words   |  6 Pagestheir spending the greatest, which leads the authors to a plausible conclusion that perhaps the impact of a high cost-sharing may be too â€Å"blunt† and complex – i.e., an inadvertently counterproductive policy instrument to control for the rise of expenditures. Through their regression results, they reveal that the consumers did not price shop and that the spending reductions was not due to the fact the providers lowered the medical prices. The bulk of the spending reductions was due to outright lessRead MoreHealth Care Spending1149 Words   |  5 PagesHealth Care Spending in the United States Lisa Patti HCS/440 April 23, 2012 Caryn Callahan Introduction Heath care in the United States is costly and confusing. Many do not follow the facts, policies or cost the government has controlled in health care. This leads to obtaining the incorrect insurance that causes high out of pocket expenses to choosing no health insurance at all. In today’s society many cannot afford health insurance, in 2010 49.9 million people in the United States were withoutRead MoreSummary Of Hard And Soft Roi1668 Words   |  7 Pageshistorical roots involving the Du Pont system have an extensive history which paved the way for cost accounting, financial accounting, and capital accounting. The (ROI) and (ROE) formulas are prominent in accounting, textbooks, and finance as well as health care professionals who use these formulas. Then, hard and soft benefits of projects vary depending on the for-profit and not-for-profit organization. The soft benefit also known as (qualitative data) is most useful for when a project team wishes toRead MoreHcs 440 Economics : the Financing of Healthcare1633 Words   |  7 Pageshealthcare expenditures and to determine if we as Americans are spending too much on healthcare. The author of this paper will provide examples and solutions where we as a nation should add or cut from the healthcare expenditures. This paper will also detail how the general publics healthcare needs are being paid for, the biggest economic healthcare challenge, why the challenge should be addressed, and how this challenge to be financed. The current level of national healthcare expenditures Read MoreFinancing Issues Of Prescription Drugs1633 Words   |  7 Pageseconomy. While the health care industry continues to grow, transformational changes also continue to enforce change in its organizational structure. Change in organizational structure enables health care providers to make arrangement for the change. In this case, the overall health care providers’ advance in new medical technology (to provide the best quality services), financial system, and the entire health care service structure, rules, and regulations are changed. Hence, a health care industry isRead MoreHcs/440 Health Care Spending1584 Words   |  7 PagesHealth Care Spending Terri Adams-Smith HCS/440 October 8, 2012 John Branner In 2002, the United States spent $5,267 per capita on health care. Higher prices for health services such as prescription drugs, doctor’s visits and hospital stays have been contributors to the rising numbers (Anderson, Hussey, Frogner, 2005). Both public and private health expenditures are growing at rates, which outpace comparable countries (The HenryRead MoreThe American Health Care System1265 Words   |  6 PagesToday’s health care system is very different from how it used to be. There have been many changes that have taken place which represent the major shifts involved in moving from a plan which was based mainly on what the patient wanted, to a managed care system. The American health care system has evolved immensely over the past years and it continues to evolve to this day. As health care costs continue to rise, as treatments become even more costly, and as the population continues to age, it is essentialRead MorePharma Care Program Essay760 Words   |  4 PagesCanada makes reforms in their system of control for drug expenditures might become a next step as well. Currently in Canada all provinces and territories have different public drug benefits plans made available to them. Alberta has different prescription drug programs such as non-group coverage (which requires a premium to be paid), coverage for seniors who are 65 or over in age, palliative coverage and diabetic supply coverage (Alberta Health, 2017). Manitoba’s pharma-care program is based on theRead MoreEssay on The Underlying Dynamics of Health Care Spending 1442 Words   |  6 Pagespay for health care, and it is not getting any cheaper. With the baby boomers getting older the population is going to need health care now more than ever. The hospital stays, the procedures and surgeries, long-term care, the doctor and dentist visits, the medical supplies, and medications are hardly affordable. How will we pay for it and how much will we have to pay? Where will the money come from? Citizens, businesses, and the government are paying more and more for health care. Health care as