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.
- CEO Exchange: Preparing for Population Health
- Advocate, NorthShore Deal Would Create 16-Hospital System
- 3 Strategies for Retaining Millennial Employees
- Power of price: In South FL and the nation, healthcare costs often are shrouded in secrecy
- Top Reason for Nurse Turnover: Managers
- CEO Exchange: Pressure is On to Partner, Drive Quality
- Two NY hospitals to offer free hip and knee replacement surgeries for qualifying patients in December
- Hospital mergers may lead to higher prices
- Better HCAHPS Scores Protect Revenue
- Healthcare data of 1 million NJ patients compromised since 2009