US on Its Way to Reduce Rising Health Costs

.

US on Its Way to Reduce Rising Health Costs

It is being said that the increasing costs on healthcare in the US can be reduced significantly with the help of lower costs for drugs and laws ordering hospitals to publish prices, as per a report revealed recently.

According to the data released by the Health Research Institute, which carried out a survey, while the costs had risen by 9% in 2010 and 2011, the actual growth could have been around 7%. It has been told that the additional rise was an outcome of annual inflation rate, which was 2.3 percent in April.

Further, the report also says that health-care costs can rise up to 7.5% in 2013. However, the same could be 5.5% if changes are brought in insurance benefits like co-payments.

The report says that health care cost trends are an important issue in Washington where small changes in expected augment in costs may have a large impact on government's budget deficits. Also, consumers and employers who are affected by price increase in doctors' offices and hospitals in terms of insurance premiums would be benefitted with lowered costs.

"Four years of historically low growth is noteworthy and we may be at the start of a new normal", says Ceci Connolly, managing director.


Latest News

Rise in Russian Arms Sales In spite of a Drop Globally
PetSmart Sells itself with an $8.3Billion Deal
Falling Oil Prices Result in a Drop in Stocks
Shares of Amaya Fall Due to Probe Conducted by Securities Regulators
Americans Consumers Display Confidence In the Market with Gain in Sales
It’s Time to Hurry Up to Enrol in the First Phase of Affordable Care Act Health
After Merger with Alliance Boots,	Walgreen CEO will Retire
Falling Fuel Prices Lift Airline Profits But No Respite in Fares Expected
Citigroup to Pay Likely $2.7B as Legal Charge
Michael Jeffries Retires as the CEO of Abercrombie & Fitch
Deutsche Bank in Trouble Again in the U.S. for Alleged Tax Scheme
Popular Demand Brings French Toast Crunch Back on the Shelves