Albeit at a slower rate, Healthcare spending continues to rise. NPR covered a Kaiser Health News article this week titled Health Care Costs Are Projected To Outpace Economic Growth.
Some staggering statistics include:
- The nation will spend $2.9 trillion this year on health services
- Health spending will rise by 6.1% in 2014 to $3.1 trillion
- By 2022, health spending will total $5 trillion amounting to a fifth of the gross domestic product
While much of the increase is attributed to the rising number of baby boomers moving into Medicare, and 11 million previously uninsured people gaining coverage through new Marketplaces and Medicaid expansion resulting from the ACA, this trend is clearly unsustainable.
Furthermore, it is still unknown if any of this additional coverage and access to care will actually improve outcomes. Are there just more patients entering the healthcare system, or are we truly on our way to accountable care and effectively improving population health? Will new collaborative approaches and reimbursement models help us concentrate on cost efficiencies?
In addition, we understand you might be a little overwhelmed when considering how you are going to disseminate information and reduce disparities for the new limited English proficiency populations in your care as a result of the healthcare reform. We’re here to help. As a vital partner to many health systems and plans we provide both process and cost efficiencies when it comes to translating your healthcare documentation. If you haven’t ordered the latest version of the Healthcare Guide to Translations you can access it here. You can also contact us to set up a personal 30 minute webinar on centralization best practices.
About the author: Karen Donovan is the VP of Healthcare for VIA. Her background encompasses working with stakeholders across a wide range of the spectrum, providing strategic solutions for health systems, providers, vendors and insurers in today’s ever evolving US healthcare delivery system. Read more from this author