A new report suggests that if the U.S. created a program designed to provide the right incentives and improve decision making, payers could save $368 billion on health costs over the next 10 years. The report, which was published by The Commonwealth Fund, contends that the savings could mount up to more like $1.5 billion if this effort were to be combined with other efficiency programs. Among other things, the report proposes establishing a "Center for Medical Effectiveness and Health Care Decision-Making" which would squeeze information on relative clinical and financial effectiveness of treatments into an insurance benefit design. This same center would create incentives for key stakeholders--largely providers, payers and consumers--to use such information. The report also recommends that the healthcare industry boost healthcare IT investment, particularly to foster health data sharing.
To learn more from the report:
- read this Healthcare Finance News piece
- read the Commonwealth Fund press release
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