Health Care Industry - Rising patient financial...

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Health Care Industry in U.S. - Expenditure: $2.4 trillion in 2008, 16% of GDP, grow at 6.2% per year - Cost: $360 billion ($150 billion spent on revenue & payment administration) in 2008, 17% of the expenditure - Claim Management Payment Distribution Patient Billing & Payment - Challenge of the industry: Increasing medical care reporting Growing complexity in reimbursement process
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Unformatted text preview: Rising patient financial reponsibility for cost of care Frequently-changing reimbursement mechanisms Low growth rates projected for the next 5 to 10 years-Public policy initiatives: Encourage conversion from paper to electronics transactions (currently 43%) Encourage physician use of electronic prescription technology Promote adoption of electronic health records...
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  • Spring '11
  • medical care, Health Care Industry, Frequently-changing reimbursement mechanisms, payment administration

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