The Medical Cost Reference Guide
The United States continues to spend more on healthcare than other nations, but there are some positive indicators on the horizon.
Healthcare spending as a percent of Gross Domestic Product (GDP) is 16 percent in the U.S. and rises to 19 percent of total national government spending. As the healthcare leaders in the U.S., Blue Cross and Blue Shield companies continue to aggressively manage healthcare costs in providing high value healthcare that is quality-driven, affordable and accessible. For the fourth year in a row, growth in health insurance premiums declined in 2007 and the rate of growth is currently at its lowest level in seven years.
There are also positive indicators in other key areas. Growth in consumer engagement – measured by enrollment in consumer driven health plans (CDHPs), utilization of health information, consumer health tools and health management programs to make more informed healthcare decisions – are all increasing. While these bode well for the future, the nation still must work aggressively to better manage overall healthcare costs, which are rapidly approaching $2.3 trillion.
Now in its sixth year of publication, the Medical Cost Reference Guide provides comprehensive information on healthcare economics, utilization and management trends from credible, peer-reviewed sources. We hope the 2008 Medical Cost Reference Guide continues to meet the needs of all healthcare stakeholders.
1
Health expenditures in the United States continue to grow and the U.S. spends more on healthcare than any other nation.
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2
Nearly 68 percent of all Americans were covered by a private insurance plan during 2006 – and another 27 percent received medical coverage through government programs.
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3
It is more important today than ever before for consumers to be engaged and empowered in dealing with healthcare costs and information
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4
Hospitals, physicians and other healthcare providers are seeing more patients and performing more procedures than ever before.
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5
This section of the 2008 Medical Cost Reference Guide highlights a number of quality incentives, pay-for-performance, electronic medical records and programs aimed at preventing fraud, waste and abuse.
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