Health care prices in the United States

Milliman projects COVID-19 pandemic could reduce 2020 U.S. healthcare expenditures by $75 billion to $575 billion

Retrieved on: 
Thursday, April 23, 2020
Academic disciplines, Health Economics, Milliman, Articles, Health care prices in the United States, Actuarial science, Service industries

SEATTLE, April 23, 2020 /PRNewswire/ --Milliman, Inc., a premier global consulting and actuarial firm, released a report today projecting the COVID-19 pandemic will reduce U.S. nationwide healthcare expenditures by at least $75 billion and by as much as $575 billion in 2020.

Key Points: 
  • SEATTLE, April 23, 2020 /PRNewswire/ --Milliman, Inc., a premier global consulting and actuarial firm, released a report today projecting the COVID-19 pandemic will reduce U.S. nationwide healthcare expenditures by at least $75 billion and by as much as $575 billion in 2020.
  • The report, "Estimating the financial impact of COVID-19 on 2020 healthcare costs," models 18 different scenarios with varying infection rates and durations of care deferral.
  • Key findings of the report include:
    If COVID-19 results in deferred care through the end of June, the net reduction of 2020 healthcare costs through June would be between $140 billion and $375 billion nationally.
  • Milliman will host a public webinar to discuss the analysis and findings on April 29, 2020 at 11:00 a.m. EDT.

Survey Highlights The Financial Vulnerability of The Poor And Disadvantaged When Faced With COVID-19 Crisis

Retrieved on: 
Thursday, April 16, 2020
Service industries, Economy, Health Economics, Articles, Healthcare reform in the United States, Health insurance coverage in the United States, Health insurance, Health care prices in the United States, Insurance, Massachusetts health care reform, Health insurance in the United States

The data is similar when comparing the ability to pay for medical costs with household income.

Key Points: 
  • The data is similar when comparing the ability to pay for medical costs with household income.
  • Vulnerable individuals also included more than 55% of minority groups stating they could not afford medical treatment for the virus.
  • Among those surveyed, 13% do not have health insurance overall, with that number rising to 22% uninsured for those who are unemployed or underemployed.
  • "Unemployed individuals and others without health insurance have multiple avenues to get health insurance," said Jeff Smedsrud, co-founder of HealthCare.com.

Global Medical Sensor Market (2020 to 2025) - Featuring NXP Semiconductors, General Electric & STMicroelectronics Among Others - ResearchAndMarkets.com

Retrieved on: 
Thursday, April 16, 2020
Health, General Health, Medical device, Health care prices in the United States

The medical sensors market is projected to grow at a CAGR of 12.01% to reach US$23.659 billion by 2025, from US $11.980 billion in 2019.

Key Points: 
  • The medical sensors market is projected to grow at a CAGR of 12.01% to reach US$23.659 billion by 2025, from US $11.980 billion in 2019.
  • Rising healthcare costs and latest trend of home healthcare are the major factors driving the demand for medical sensors.
  • However, the stringent regulations for the development and approval of medical devices may pose a threat in impeding the market growth in the forecast period.
  • According to the procedure-related risks associated, medical devices are categorized into types or class of medical devices and it varies from region to region.

SmartHealth PayCard and Smart Health & Wellness Centers Team Up to Make Healthcare More Affordable and Accessible

Retrieved on: 
Wednesday, April 15, 2020
Practice Management, Managed care, Finance, Health, Professional services, Technology, Mobile, Wireless, Other Health, Articles, Health, Healthcare in the United States, Health informatics, Health Economics, Assistive technology, Telehealth, Health care prices in the United States, Copayment

SmartHealth PayCard , LLC, a HealthTech payment solutions leader, and Smart Health & Wellness Centers , a leader in integrated behavior healthcare announced today their partnership to make healthcare accessible whenever needed whether in person or via telehealth.

Key Points: 
  • SmartHealth PayCard , LLC, a HealthTech payment solutions leader, and Smart Health & Wellness Centers , a leader in integrated behavior healthcare announced today their partnership to make healthcare accessible whenever needed whether in person or via telehealth.
  • SmartHealth PayCard, a national credit card dedicated solely to healthcare expenses, provides Smart Health & Wellness patients with a revolving credit line to pay immediately for deductibles, copays, co-insurance, and other health costs.
  • We are dedicated to improving the overall wellness of patients, said Brett Cormier, CEO of Smart Health & Wellness Centers.
  • SmartHealth PayCard is designed to reverse this unacceptable cycle by giving Americans the means to pay for healthcare, said Paul Clampitt, Co-Founder of SmartHealth PayCard.

52% Don't Have Enough Money Saved To Cover Medical Costs If They Contract COVID-19

Retrieved on: 
Friday, April 10, 2020
Articles, Health Economics, Health care prices in the United States, Health, Telehealth, Technology, Menu, Healthcare reform in the United States

A healthinsurance.com survey finds 52% don't have enough money saved to cover COVID-19 medical costs.

Key Points: 
  • A healthinsurance.com survey finds 52% don't have enough money saved to cover COVID-19 medical costs.
  • Unveiling the financial status of many Americans', 46% would think twice about seeking medical care right now because of cost.
  • Price transparency is also a major concern: 90% think coronavirus medical care prices should be available like prices on a restaurant menu.
  • Healthinsurance.com also asked respondents about medical care while social distancing:
    47%say they intend on using telemedicine during this health crisis.

Blue Shield of California Offers Financial Support to Healthcare Providers in Response to COVID-19 Crisis

Retrieved on: 
Monday, April 6, 2020
Health insurance in the United States, Blue Shield of California, Health care prices in the United States, Blue Shield, Healthcare in the United States, Health, Service industries

Blue Shield is working with two financial institutions to help providers with guaranteed loans and to make advance payments to them on anticipated healthcare costs.

Key Points: 
  • Blue Shield is working with two financial institutions to help providers with guaranteed loans and to make advance payments to them on anticipated healthcare costs.
  • Blue Shield has taken several other steps to support providers and the public since the pandemic began.
  • Blue Shield of California strives to create a healthcare system worthy of our family and friends that is sustainably affordable.
  • The company has contributed more than $500 million to Blue Shield of California Foundation since 2002 to have an impact on California communities.

New Analytic-Powered COVID-19 Calculator Estimates Medical Costs

Retrieved on: 
Wednesday, April 1, 2020
Articles, Health, Service industries, Health Economics, Publicly funded health care, Healthcare reform in the United States, Federal assistance in the United States, Medicare, Single-payer healthcare, Health care prices in the United States, Insurance, Healthcare reform debate in the United States

LAKEWOOD RANCH, Fla., April 1, 2020 /PRNewswire/ --Care Bridge International, a data analytics corporation, today announced a new COVID-19 Calculator that estimates the true exposure of medical treatment and costs related to COVID-19 claims.

Key Points: 
  • LAKEWOOD RANCH, Fla., April 1, 2020 /PRNewswire/ --Care Bridge International, a data analytics corporation, today announced a new COVID-19 Calculator that estimates the true exposure of medical treatment and costs related to COVID-19 claims.
  • As a public service during this difficult time, Care Bridge International is offering a FREE interactive tool at https://www.AnalyticPoweredCOVID19.com for businesses who need to understand the average medical costs associated with a COVID-19 diagnosis for a Workers Compensation claim, Group health or General Liability claims or the costs for Medicare beneficiaries.
  • One of the biggest challenges insurance companieswill face in the coming months will be how to effectively handle the deluge of claims related to COVID-19.
  • Care Bridge International's FREE, easy and rapid analysis of the average COVID-19 medical costs are based upon average fee schedule prices by insurance payer type.

Humana to Waive Medical Costs Related to Coronavirus Treatment

Retrieved on: 
Monday, March 30, 2020
Insurance, Pharmaceutical, Managed care, General Health, Health, Infectious diseases, Hospitals, Professional services, Health, Healthcare reform in the United States, Articles, Federal assistance in the United States, Presidency of Lyndon B. Johnson, Health Economics, Medicare, Medicaid, Health care prices in the United States, Humana, Medigap, Single-payer healthcare

Humana (NYSE: HUM), a national health care company, has announced it is waiving consumer costs for treatment related to COVID-19-covered services.

Key Points: 
  • Humana (NYSE: HUM), a national health care company, has announced it is waiving consumer costs for treatment related to COVID-19-covered services.
  • The company previously announced that it would cover out-of-pocket costs related to coronavirus testing.
  • Now, costs related to subsequent treatment for COVID-19including inpatient hospital admissions will be waived for enrollees of Medicare Advantage plans, fully insured commercial members, Medicare Supplement and Medicaid.
  • The waiver applies to all medical costs related to the treatment of COVID-19 as well as FDA-approved medications or vaccines when they become available.

SmartHealth PayCard Adds the Prescription Savings Program of Phoenix Benefits to Help Americans Better Manage Healthcare Costs

Retrieved on: 
Wednesday, March 18, 2020
Professional services, Health, Other Professional Services, Insurance, General Health, Banking, Health Economics, Health care prices in the United States, Healthcare reform in the United States, Healthcare in the United States

SmartHealth PayCard , LLC, a healthcare FinTech pioneer committed to eliminating the financial burden of medical expenses to make healthcare more accessible, has partnered with Phoenix Benefits Management , a leading prescription benefit manager, to dramatically reduce out-of-pocket prescription costs for Americans.

Key Points: 
  • SmartHealth PayCard , LLC, a healthcare FinTech pioneer committed to eliminating the financial burden of medical expenses to make healthcare more accessible, has partnered with Phoenix Benefits Management , a leading prescription benefit manager, to dramatically reduce out-of-pocket prescription costs for Americans.
  • Healthcare providers that include SmartHealth PayCard in their business strategy can add discounts to attract more patients while better serving existing ones.
  • SmartHealth PayCard seeks to change this unacceptable cycle by helping people better manage healthcare costs so they and their families can live healthier and happier lives.
  • We are committed to finding solutions to complex healthcare problems and customizing access to prescription benefits that Americans need.

SmartHealth PayCard Waives Its Annual Fee for New Applicants to Make Healthcare More Accessible as America Battles the Coronavirus

Retrieved on: 
Monday, March 16, 2020
Technology, Health, Finance, Alternative energy, Banking, Energy, Pharmaceutical, Professional services, Optical, Mental health, Infectious diseases, General Health, Hardware, Dental, Articles, Health, Health Economics, Health care prices in the United States

In the coming months, SmartHealth PayCard will introduce exciting new features as it expands its role as a financial cure for healthcare.

Key Points: 
  • In the coming months, SmartHealth PayCard will introduce exciting new features as it expands its role as a financial cure for healthcare.
  • SmartHealth PayCard seeks to empower individuals and families with financial solutions and resources to simplify direction of care and healthcare expenses.
  • The team at SmartHealth PayCard has extensive experience in healthcare, insurance, government regulations, and finance.
  • We seek to introduce transformative change to healthcare that benefits patients, healthcare providers, and society at large.