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What Are Some Ways Of Curbing The Negative Impact Of Rising Health Care Costs On An Economy?

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Ebony Nash Profile
Ebony Nash answered
There are several ways of curbing the negative impact of rising health care costs on an economy. Firstly cracking down on fraud and abuse crime could see thousands, if not millions, saved. The FBI figures that fraudulent billings to Medicare, Medicaid and private insurers account for 3 per cent to 10 per cent of total health spending and the bureau concedes its estimates may be low. Medical fraud can range from fake claims to kickbacks to doctors to rigged payment schemes spanning several states.

Another strategy would be to develop a healthy workforce. When Johnson & Johnson (JNJ) CEO William C. Weldon met with President Obama, he communicated a key message: Prevention pays. Weldon knows, because J&J has been offering comprehensive wellness programmes to its 100,000 employees since 1995. Internal studies found that in the four years ending in 2002, those efforts saved $225 per employee per year.

Having a healthier nation in the first place would help reduce the burden of medical care. In the US one third of adults are obese, and health spending on this group grew 80 per cent from 2001 to 2006, to $166.7 billion. In 2005, Another option is to stop Infections in hospitals. The biggest danger to patients is not their disease but the hospitals that treat them. Every year 1.7 million patients develop infections while in hospital and 99,000 die as a result. These hospital- acquired infections add $30 billion to the nation's annual health-care bill and almost all are preventable. The key is keeping the hands and clothes of hospital personnel clean, as well as any tools that come into contact with patients.
Penny Kay Profile
Penny Kay answered
Adopt a wellness attitude and lifestyle. Get more exercise, drink more water, eat healthy and find out where lower cost healthcare facilities are.

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