Why is our current market-based system unable to cut costs without government competition?
SG: Insurance companies could cut costs if the government required it. In fact, many are already coming to the table with options. I think this is the way to go because government intervention … through a public plan … will increase costs to the government and thus the taxpayer. Are there other forms of regulation that fall short of creating a new government program that could rein in costs? SG: Plenty. Controlling premium increases is a good place to start. But those controls must be realistic. If the average increases were 10 percent, perhaps 8 percent caps would work but not 2 percent, because then the quality of the health care would probably suffer. You have predicted that there will be a much greater emphasis on wellness programs. Can you elaborate on that? SG: Most claims are driven by certain behaviors such as overeating, excessive drinking, smoking, etc. If these non-healthy behaviors are controlled more effectively, people will be healthier and not tax the medical system
Related Questions
- What if my Electronic Health Record (EHR) system costs much more than the incentive the government will pay? May I request additional funds?
- How can I assess the impact and costs to implement the SmartLab Electronic Notebook System?
- How can my office cut costs by implementing the Virtual Charting system?
