By Mark Isenberg, Executive VP of Health Care Advocacy
A recent opinion piece in The Wall Street Journal cites a 2020 Rand Corp. report estimating that Indiana hospital costs are 3.4 times higher than Medicare rates and are fifth highest in the nation.
Rand Corp. released an updated report this year, and Indiana rounded out at seventh highest. Not much to crow about, but if you look deeper, there is more to the story.
Physicians haven’t had a significant increase in Medicare compensation in almost 20 years. Nothing accounts for the increase in practice costs or general inflation in decades, forcing them to rely on commercial carrier rates to shore up their practices. However, this causes a chain reaction driving employer premium costs higher. So how do we address this conundrum?
Today, physicians manage the business of health care with the deck stacked against them. Just months after being lauded as heroes for their efforts in the pandemic, they are now not just fighting to save lives but fighting to keep their practices afloat.
To read more, visit the Indianapolis Business Journal.