Health industry organizations submitted details to President Barack Obama of their joint proposal to limit the increase in health care costs. The industry groups recognized three big areas for savings: $150 billion to $180 billion from more-efficient use of health care services, $350 billion to $850 billion from better managing chronic diseases, and $500 billion to $700 billion through administrative and business improvements such as standardizing claim forms.
The proposals include:
The Advanced Medical Technology Association said it would take initiatives to reduce medical errors, for example by improving the design of medical devices.
America’s Health Insurance Plans said it would revamp administrative processes to standardize and automate claims submissions, payments and other functions. The group likened this to ATMs being introduced throughout the banking system.
The American Hospital Association said it would undertake various initiatives to reduce infections.
The American Medical Association said it would seek to reduce hospital readmissions by improving how patients transition out of hospital stays.
Health industries organizations include AdvaMed, Pharmaceutical Research and Manufacturers of America, American Hospital Association, America’s Health Insurance Plans, American Medical Association and Service Employees International Union.