Navigation Links
AHIP Statement on New Health Spending Projections
Date:2/4/2010

Karen Ignagni, President and CEO of America's Health Insurance Plans (AHIP), released a statement today in response to new health spending projections released by CMS.

Washington, DC (Vocus) February 4, 2010 -- Karen Ignagni, President and CEO of America's Health Insurance Plans (AHIP), released the following statement today in response to new health spending projections released by CMS which found that health care’s share of the economy grew 1.1 percentage points in 2009 – the largest one-year increase in GDP share since the federal government began keeping track in 1960:

“Rising health care costs are crushing our economy and adding a burden on working families and employers across the country. The new CMS data confirm that rising health care costs are driven by increases in underlying medical costs, not health plan administrative costs. In fact, the proportion of health insurance premiums that go towards administrative costs is declining as overall health care costs continue to soar. Without a national, long-term strategy to address the rapid growth in underlying medical costs, health care spending will continue to grow far faster than the economy as a whole, crowding out other important domestic priorities, such as education, energy, and deficit reduction."

The report, published today in Health Affairs, notes that the “two primary drivers of growth…are medical prices and utilization”, which saw a projected increase in spending by 3.2 percent and 1.5 percent in 2009, respectively. Other key findings include:

 
  • “Hospital spending growth is projected to have accelerated from 4.5 percent in 2008 to 5.9 percent in 2009, as spending reached $760.6 billion.”
  • “Spending growth for physician and clinical services is expected to have accelerated to 6.3 percent in 2009, up from 5.0 percent in 2008, with expenditures having reached $527.6 billion.”
  • “Prescription drug spending is expected to have grown 5.2 percent in 2009, an acceleration of 2.0 percentage points from 2008, and to have reached $246.3 billion.”

This is consistent with national data and information received from health plans showing that health care costs are expected to increase even further due to the underlying growth in the cost of health care services.

To read the full report in Health Affairs, please click here.

###

Read the full story at http://www.prweb.com/releases/health_spending/projections/prweb3568964.htm.


'/>"/>
Source: PRWeb
Copyright©2010 Vocus, Inc.
All rights reserved

Related medicine news :

1. Statement From IHA President Maryjane A. Wurth on Illinois Supreme Court Medical Liability Ruling
2. Statement from the Consumer Healthcare Products Association on Mississippi Bill that Limits Consumer Access to Cold and Allergy Medicines Containing Pseudoephedrine by Requiring a Prescription
3. AAPM statement on quality radiation therapy
4. Statement From American Heart Association CEO Nancy Brown on President Obamas State of the Union Address
5. Statement from the Consumer Healthcare Products Association on Mississippi Bill that Seeks to Make Cold, Allergy Medicines Containing Pseudoephedrine Prescription-Only
6. Statement from RC Cancer Centers Regarding News Story on Radiation Oncology
7. Statement From the American Health Care Association and National Center for Assisted Living in Anticipation of President Obamas State of the Union Address
8. SEIU-UHW Statement on Kaiser Union Election in Southern California
9. Operation Rescues Advisory Board Issues Statement on Mr. Terrys Extremism
10. Statement: Helping the UN Help Haiti
11. Pelosi Statement on New Report That Health Reform Will Create 4 Million More Jobs Over the Next Decade
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/13/2017)... (PRWEB) , ... October 13, 2017 , ... ... DevOps and Agile Software Development, has been awarded a contract by the Center ... Purchase Agreement (BPA) aims to accelerate the enterprise use of Agile methodologies in ...
(Date:10/12/2017)... ... October 12, 2017 , ... CitiDent and San Francisco ... using cutting-edge Oventus O2Vent technology. As many as 18 million Americans are estimated ... in breathing. Oral appliances can offer significant relief to about 75 percent of ...
(Date:10/12/2017)... ... October 12, 2017 , ... The American College of Medical Informatics (ACMI) will ... during the Opening Session of AMIA’s Annual Symposium in Washington, D.C. AMIA’s Annual ... F. Collen, a pioneer in the field of medical informatics, this prestigious award is ...
(Date:10/12/2017)... ... ... HMP , a leader in healthcare events and education, today announced that ... ‘Best B-to-B Healthcare Website.’ Winners were announced during the Eddie & Ozzie Awards luncheon ... editorial and design excellence across a range of sectors. This year’s program included the ...
(Date:10/12/2017)... ... ... Health Literacy Innovations (HLI), creator of the Health Literacy ... Patient Education Network (CPEN), an independent professional organization that shares best practices in ... , As CPEN’s strategic partner, HLI will help support CPEN members by sharing ...
Breaking Medicine News(10 mins):
(Date:10/10/2017)... 10, 2017   West Pharmaceutical Services, Inc. ... injectable drug administration, today shared the results of a ... improving the intradermal administration of polio vaccines. The study ... in May 2017 by Dr. Ondrej Mach , ... Health Organization (WHO), and recently published in the journal ...
(Date:10/4/2017)... Oct. 4, 2017 OBP Medical ... illuminating medical devices, today announced regulatory approval from ... Agency (or Agência Nacional de Vigilância Sanitária (ANVISA)) ... cordless surgical retractor with integrated LED light source ... illumination and exposure of a tissue pocket or ...
(Date:10/2/2017)... 2017 The Rebound mobile app is poised to ... the tide of prescription drug addiction. The app empowers users ... and stepping down their dosage in a safe, controlled manner ... 2017; the first 100,000 people to sign up will enjoy ... ...
Breaking Medicine Technology: