Healthcare Costs Top $20K Per Family
Margaret Dick Tocknell, for HealthLeaders Media, May 16, 2012
Among the MMI findings:
- Outpatient facility costs posted its first single digit increase, 8.6%, in four years, but for the fifth year that increase outpaced all the other MMI components.
- Outpatient facility care costs totaled $3,699, or 18% of a family of four's annual healthcare bill. Girod explains that the level of insurer control is improving under contractual discount arrangements, but still isn't on par with inpatient controls.
- Inpatient facility utilization or the number of inpatient days for a covered population in a year has remained unchanged for several years. However, the patients who are hospitalized tend to require more intensive and expensive services that have helped boost the cost of treatment contributing to a 7.6% increase in the average charge per day costs.
- Physician care costs reversed a four-year trend and increased by 5%. Girod says a number of things may have contributed to this cost bump, including evidence of some pushback by physicians in their contract negotiations with health plans.
- Hospital inpatient costs ($6,531) and physician costs ($6,647) each account for 32% of a family of four's total annual healthcare bill.
- Pharmacy costs continued their roller coaster ride of cost increases and exceeded $3,000 for the first time. The 7.3% increase is down slightly from 2011's 8%, but a significant increase over 2010's 6%. Pharmacy costs totaled $3,056 or 15% of the family's total annual healthcare bill. Girod says that while the shift to generics has helped slowed the growth in pharmacy costs, the expense of specialty drugs will have a growing impact on this cost trend.
- The cost of miscellaneous other services such as durable medical equipment, ambulance services and home health posted a 6.7% increase to $795.
- Antibiotic Overuse a 'Huge Threat' to Patient Safety, Says CDC
- 3 Traits Personality Assessments Can't Reveal
- Consumerism Drives Healthcare Branding, Rebranding Efforts
- CHS Hacked, 4.5M Patient Records Compromised
- PA Ranks See 'Phenomenal Growth,' Lack of Diversity
- Business Roundup: M&A Activity Down Slightly in First Half of 2014
- CFO Exchange: Healthcare Leaders Share 5 Innovative Ideas
- CFO Exchange: Smartphones Poised to Disrupt Healthcare, Says Topol
- Large Employers Trimming Healthcare Spending
- 3 Things the Ice Bucket Challenge Can Teach Hospital Marketers