January 2020 •
Volume 1 •
Issue 13
Providing Current Information on
Health Insurance Industry Issues and Legislation
Health Industry Racks Up Big Win in Spending Deal
At times this year it appeared the health care industry might be facing an existential
threat to its business model. Congress put off curbing surprise medical bills and
controlling prescription drug prices were put off until, at least, next year. Instead it
handed the pharmaceutical and insurance companies, hospitals and medical device
manufacturers billions of dollars of tax breaks and other gifts. The cost of the tax cuts
alone is projected to reduce tax revenue by about $375 billion in the next 10 years.
threat to its business model. Congress put off curbing surprise medical bills and
controlling prescription drug prices were put off until, at least, next year. Instead it
handed the pharmaceutical and insurance companies, hospitals and medical device
manufacturers billions of dollars of tax breaks and other gifts. The cost of the tax cuts
alone is projected to reduce tax revenue by about $375 billion in the next 10 years.
Taking the Sting Out of Surprise Bills
Until the federal government or all the states pass legislation, costly surprise bills
from out-of-network providers for emergency room visits and hospital admissions
will continue and could be painful for everyone. But they don't have to be. Utilizing
a combination of technology and tenacity a skilled cost containment company,
like H.H.C. Group, can cut surprise and other out-of-network bills down to size.
That company will have its skilled negotiators convince providers to accept an
appropriate amount for their services, access discounts from its PPO partners,
scrutinize the bills to identify costly overcharges and errors and take the sting out
of those surprise and other out-of-network bills.
from out-of-network providers for emergency room visits and hospital admissions
will continue and could be painful for everyone. But they don't have to be. Utilizing
a combination of technology and tenacity a skilled cost containment company,
like H.H.C. Group, can cut surprise and other out-of-network bills down to size.
That company will have its skilled negotiators convince providers to accept an
appropriate amount for their services, access discounts from its PPO partners,
scrutinize the bills to identify costly overcharges and errors and take the sting out
of those surprise and other out-of-network bills.
Employers Sponsored Healthcare Offerings More Diverse Than Ever
More employers are turning to turning to diversified benefit options to reduce costs while
increasing employee satisfaction. They are offering more plan options, more voluntary
benefits, sharing savings and rewarding employees for participation in a broad range
of wellness programs. The trend underscores the need to meet the needs and priorities
of the many different generations in today's workforce. For instance, voluntary benefits
enable employees to tailor their benefits packages to meet their needs without incurring
incremental cost for the employer.
increasing employee satisfaction. They are offering more plan options, more voluntary
benefits, sharing savings and rewarding employees for participation in a broad range
of wellness programs. The trend underscores the need to meet the needs and priorities
of the many different generations in today's workforce. For instance, voluntary benefits
enable employees to tailor their benefits packages to meet their needs without incurring
incremental cost for the employer.
Trends Shaping the Healthcare Industry
2019 was a transformative year in for the healthcare industry with a slew of new
developments that will impact 2020 and beyond. Surprise billing, price transparency,
nontraditional partnerships and experimentation in care delivery all were hot topics.
So, too, were other issues that will have to be addressed in the coming year including
addressing the impact of social determinants of health on outcomes and costs,
improving interoperability, and care integration.
developments that will impact 2020 and beyond. Surprise billing, price transparency,
nontraditional partnerships and experimentation in care delivery all were hot topics.
So, too, were other issues that will have to be addressed in the coming year including
addressing the impact of social determinants of health on outcomes and costs,
improving interoperability, and care integration.
Three Star Preferred Provider Program Additions
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Cleveland, OH 44139 Holland Eye Care Indianapolis, IN 46256 Deborah Doray PA Oklahoma City, OK 73127 |
Tempe, AZ 85284 Magnolia Medical Group Milledgeville, GA 31061 |
