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.