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As new
Administration takes office, Deloitte Report
identifies $530 Billion savings opportunity
for Health Care Reform over next 10 years…49
percent favor importation of prescription
medicines
WASHINGTON, Jan. 15 /PRNewswire/ -- As the
White House changes guard next week, a new
series of reports released today by the
Deloitte Center for Health Solutions
identifies $530 billion in opportunities to
reduce costs while improving the U.S. health
care system over the next 10 years.
"Against the backdrop of a national
financial crisis and fierce competition for
shrinking federal funds, transforming the
health care system to address major cost,
quality and access issues has never been
more imperative," said Paul Keckley, Ph.D.,
executive director of the Deloitte Center
for Health Solutions.
"As unemployment rolls increase leading to
an upturn in the uninsured, our analysis
demonstrates encouraging potential for the
new administration to make a significant
impact on improving both the cost and
quality of health care."
The Deloitte Center for Health Solutions,
part of Deloitte LLP, reports provide a
comprehensive understanding of what
consumers want and need in their medical
care, providing two important perspectives.
The first, "Health Care and Public Policy:
What Americans Want," (www.deloitte.com/us/healthreformandpublicpolicy)
offers results from a survey of 4,000 U.S.
adults about their opinions of key health
care reform efforts. Americans across the
demographic spectrum embrace the gravity of
the situation.
A vast majority of respondents say they are
ill-equipped to handle the financial burdens
of a serious medical emergency -- only 6
percent describe themselves as fully ready
for such a contingency, and less than 25
percent overall believe that their financial
preparation is adequate.
Families increasingly are so beset by
medical costs that they have less to spend
on other essentials. Many are falling behind
in their medical payments; 84 percent of
respondents believe that the economic
challenges will now make it even harder for
people to pay their medical bills.
The second report, "Reducing Costs While
Improving Care in the U.S. Health System:
The Health Reform Pyramid," (www.deloitte.com/us/healthreformpyramid)
outlines the impact on investment and
potential savings that might be realized by
key reforms based on four interdependent
areas of focus: health care information
technology; comparative effectiveness;
coordination of care; and consumerism.
Taken together, these four areas provide the
opportunity to achieve a $530 billion
savings opportunity based on a $220 billion
upfront investment over three years, with
net savings realized beginning in year six.
Thereafter, compound annual growth rate
health costs may decline to 4 percent if
implementation of the plan proceeds without
delay, with adequate investment and proper
oversight.
Additional findings from the Deloitte
reports found:
Two in three respondents say health care is
an important policy consideration in the new
president's first term.
Only one in five gives the system an
above-average report card grade, and more
than half of respondents say 50 percent or
more of the amount spent on health care in
the United States is wasted.
Nearly 75 percent of respondents outright
oppose or are lukewarm to tax increases to
cover the uninsured, and 63 percent express
concern about forcing individuals to have
health insurance.
Requiring employers to provide insurance for
employees wins more support (53 percent are
in favor).
Asked if they would support the "medical
home" -- the concept of assigning a primary
care practitioner to coordinate care and
referrals for an individual -- 73 percent
express opposition or mixed feelings, likely
due to concerns about protecting personal
choice and uncertainty about how the process
would work.
Only four in 10 favor increased government
funding and incentives to support adoption
of electronic medical records by doctors,
hospitals and health plans.
Seventy-seven percent favor improved
benefits and care for veterans and military
personnel and 49 percent support increased
funding for mental and behavioral health
services.
Nearly half (49 percent) say they would like
state legislatures to pass laws permitting
them greater access to cheaper Canadian
drugs.
Nearly 60 percent of respondents don't
believe or have reservations that the Food
and Drug Administration should be allowed to
compile information about those who take
prescription medications to monitor safety
and effectiveness after products have been
released into the market.
"Comparative effectiveness, evidence-based
medicine, cost reduction, performance-based
payments, consumerism, safety, quality and
transparency -- they're all on the table as
legitimate action items in the new political
structure of Washington," added Keckley.
"Transition to a new administration, one
that has spoken with enthusiasm about
improving the way health care is priced,
delivered and managed in this country,
brings with it a unique opportunity to learn
what consumers want in their health care and
turn it into public policy."
Related Resources:
Report: Health Care and Public Policy: What
Americans Want (www.deloitte.com/us/healthreformandpublicpolicy)
Report: Reducing Costs While Improving Care
in the U.S. Health System: The Health Reform
Pyramid (www.deloitte.com/us/healthreformpyramid)
Overview: Administration of Change: The
Obama Impact on Health Care Policy (www.deloitte.com/obama/health)
Profile: Paul Keckley, Ph.D. (www.deloitte.com/us/PaulKeckley)
About Deloitte
As used in this document, "Deloitte" means
Deloitte LLP and Deloitte Services LP, a
subsidiary of Deloitte LLP. Please see
www.deloitte.com/us/about for a
detailed description of the legal structure
of Deloitte LLP and its subsidiaries.
About the Deloitte Center for Health
Solutions
The Deloitte Center for Health Solutions is
a part of Deloitte LLP. For more on the
Center and its work, see
www.deloitte.com/centerforhealthsolutions.
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