Fixing health care costs and insurance companies’ role in healthcare should be top of mind for all Hoosiers. The Wall Street Journal spotlighted this critical issue, citing a Rand Corp. study that ranked Indiana as the fifth highest in hospital costs in the United States, while Hoosier physician reimbursement tanked at fourth lowest.
Indiana lawmakers addressed concerns in a letter to hospitals, physicians and insurance carriers, encouraging collaboration to reduce the skyrocketing cost of health care—which didn’t happen. Without a viable plan, the Legislature pledged to take steps this year to reduce health care costs—but at whose expense?
The rise of high-deductible plans created an environment in which patients are the majority payer for many health care organizations. An analysis from the Kaiser Family Foundation reports that deductibles increased more than 150% in just 10 years. It’s also taking patients longer to meet their deductibles, from February in 2006 to May in 2019, meaning more out-of-pocket expenses for patients before they benefit from the financial protections of their health plan.
Opinion Article: Written by Mark Isenberg, EVP of Healthcare Advocacy for Zotec Partners
To read the full article in the Indianapolis Business Journal, click here (behind paywall).
About Zotec Partners: Since 1998, Zotec Partners has developed and deployed solutions and services for healthcare organizations of all sizes and specialties with proprietary technology, people-centered service, and measurable results. An innovator in the business of healthcare, Zotec delivers financial and patient experience solutions to providers that transform their healthcare business relationships and simplify some of the most complex processes in healthcare. Today, Zotec manages more than 100 million medical encounters annually, and counting, and is the chosen partner for thousands of providers across the nation, improving the lives and relationships of patients and providers through intuitive interfaces, revenue cycle processes, deep analytics, clear price transparency, actionable reporting, and simple information sharing.
