HCCI released the '2016 Health Care Costs and Utilization Report' and the results may surprise you.
- Total spending per person is now growing at faster rates than prior years.
- Spending growth in each year from 2012 to 2016 was almost entirely due to price.
- Utilization of Inpatient, Outpatient and Professional Services declined while prescription drug utilization continues to rise..
- Consumer out-of-pocket (OOP) spending per person increased, but grew more slowly than total spending.
- From 2012 to 2016 the greatest cumulative price increase was seen in prescription drugs.
Presumably the increase in member out-of-pocket costs (Copays, Deductibles, Coinsurance) has accounted for the lower utilization. This makes us very optimistic because it shows that the end user (member) can and will react to change. Our mission is to educate our clients and employees to better navigate the healthcare system and find the best price and quality for the services they need using transparency tools and better claims auditing. Then and only then can we expect to roll back the clock on medical spending. Contact GPI today to learn more 516.804.3383 x 1