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U.S. Health Spending Continues To Grow; MedBen Helps Employers Keep It In Check

09/19/13

  05:45:20 pm, by kthran   , 278 words,  
Categories: News, Health Plan Management

U.S. Health Spending Continues To Grow; MedBen Helps Employers Keep It In Check

With 75 years of health care management under its proverbial belt, MedBen has seen plenty of fluctuations in nationwide health spending over the decades – from periods of relatively slow upticks to the double-digit increases of the early 2000’s. And now, after multiple years of mild growth, experts predict that total health spending will see larger bumps, albeit not nearly as big as those experienced prior to the recent recession.

MedCity News reports that over the next decade, U.S. health spending will go up an average of 6.2% per year, based on projections by government actuaries. Additionally, they estimate that the health care segment of the nation’s economy will amount to a fifth of the nation’s gross domestic product in 2022.

What accounts for the upturn? The auditors attribute it to an improving economy and the rising number of baby boomers moving into Medicare. As for the effect of health care reform, they see only “modest” savings from changes in the law. “It’s a little early to tell how substantial those savings will be in the longer term,” Gigi Cuckler, one of the actuaries, told reporters.

Since health spending will only continue to rise, it’s critical for your business to partner with an ally that looks out for your financial interest. At MedBen, we’ve developed a multi-tiered cost containment strategy, at the heart of which is an advanced claims surveillance system. We use financial and clinical algorithms to determine savings opportunities, loss potential and fraud risk for every claim we process, regardless of size.

To see documented proof of how MedBen claims surveillance saves employers money, contact Vice President of Sales and Marketing Brian Fargus at bfargus@medben.com.

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