(Reuters) — PricewaterhouseCoopers (PWC) recently released its annual report on medical cost trends for 2012, and it is revealing.
1) The report shows health care costs and premiums continuing to rise-and uncertainty increasing for employers who offer insurance to their workers. Health care spending increased by 7.5 percent in 2010 and will grow by 8 percent this year.
2) In 2012, it will rise again by 8.5 percent. This is exactly the opposite of the President’s promise that his health care plan would reduce premiums by $2,500 per person.
3) Perhaps most concerning are the findings of a survey also released by PWC divulging how employers are likely to react to Obamacare. The survey showed that nearly half of employers will drop their coverage, dumping employees into the government-run exchanges.
Tuesday, June 21, 2011
Monday, June 20, 2011
Mixed Movement in Physicians compensation (some paid more, and some paid less)
MGMA survey: Primary and specialty-care physicians report mixed movement in compensation; radiologists report decreased compensation
By kcheung
Created Jun 16 2011 - 10:49am
ENGLEWOOD, Colo. June 14 2011- Primary and specialty-care physicians reported mixed movement in compensation in 2010, according to Medical Group Management Association's (MGMA's) Physician Compensation and Production Survey: 2011 Report Based on 2010 Data. Radiologists earned a median compensation of $471,253, a decrease of 1.58 percent, and physicians in internal medicine earned $205,379 in median compensation, an increase of 4.21 percent since 2009. MGMA's Physician Compensation and Production Survey Report is the gold standard benchmarking report in the industry. This year's report provides data on nearly 60,000 providers - the largest and most representative provider population of any physician compensation survey in the United States.
Other primary and specialty-care physicians reported mixed movement in 2010 [1]. Family practitioners (without obstetrics) reported median compensation of $189,402. Pediatric/adolescent medicine physicians earned $192,148 in median compensation, an increase of .39 percent since 2009. Anesthesiologists reported decreased compensation, as did gastroenterologists. Psychiatrists, dermatologists, neurologists and general surgeons were among specialists who reported an increase in median compensation since 2009.
Regional data [2]included in the report reveal compensation discrepancies among physicians based on geographic location. In the Southern region, primary and specialty-care physicians reported the highest earnings at $216,170 and $404,000 respectively. Primary and specialty-care physicians in the Eastern section reported the lowest median compensation at $194,409 and $305,575.
"A number of factors may attribute to regional differences in physician compensation," says Jeffrey B. Milburn, MBA, CMPE, MGMA health Care Consulting Group. The supply and demand for primary care or specialty physicians may influence compensation. A high level of competition between groups or specific specialties may provide an opportunity for payers to reduce reimbursement. In states where payers have little competition, reimbursement and subsequent physician compensation may be lower."
"Location desirability is another factor influencing competition and compensation," Milburn notes. "Some areas have a much higher ratio of physicians to population, and one might think this would lead to increased competition and lower compensation. But, the usual laws of supply and demand aren't always at work in healthcare."
For more than 25 years, MGMA's Physician Compensation and Production Survey Report has been the most respected benchmarking report in the industry. It offers detailed information, rigorous in-house data validation and analysis. This year's report provides data on nearly 60,000 providers - the largest provider population of any physician compensation survey in the United States. The 2011 report includes data for physicians and nonphysician providers in more than 150 specialties, including demographic categories ranging from geographic region and practice setting (in small, medium, and large groups) to years in specialty and method of compensation. The report also contains various performance ratios illustrating the relationship between compensation and production and data on collections for professional charges and work RVUs.
Note: MGMA surveys depend on voluntary participation and may not be representative of the industry. Readers are urged to review the entire survey report when making conclusions regarding trends or other observations.
Editorial copies of the report are available to qualifying media. Contact Liz Boten, media relations representative, at lboten@mgma.com [3] to request a printed copy of the survey. Click here [4] to purchase a copy of the report.
About MGMA [5]
MGMA is the premier membership association for professional administrators and leaders of medical group practices. Since 1926, MGMA has delivered networking, professional education and resources, and political advocacy for medical practice management. Today, MGMA serves 22,500 members who lead 13,600 organizations nationwide in which some 280,000 physicians provide more than 40 percent of the healthcare services delivered in the United States.
MGMA is the premier membership association for professional administrators and leaders of medical group practices. Since 1926, MGMA has delivered networking, professional education and resources, and political advocacy for medical practice management. Today, MGMA serves 22,500 members who lead 13,600 organizations nationwide in which some 280,000 physicians provide more than 40 percent of the healthcare services delivered in the United States.
MGMA's mission is to continually improve the performance of medical group practice professionals and the organizations they represent. MGMA promotes the group practice model as the optimal framework for healthcare delivery, assisting group practices in providing efficient, safe, patient-focused and affordable care. MGMA is headquartered in Englewood, Colo., and maintains a government affairs office in Washington, D.C.
Links:
[1] http://www.mgma.com/WorkArea/DownloadAsset.aspx?id=1366514
[2] http://www.mgma.com/WorkArea/DownloadAsset.aspx?id=1366516
[3] mailto:lboten@mgma.com
[4] http://www.mgma.com/Store/ProductDetails.aspx?id=1366272&kc=PS11PR00
[5] http://mgma.com/about
[1] http://www.mgma.com/WorkArea/DownloadAsset.aspx?id=1366514
[2] http://www.mgma.com/WorkArea/DownloadAsset.aspx?id=1366516
[3] mailto:lboten@mgma.com
[4] http://www.mgma.com/Store/ProductDetails.aspx?id=1366272&kc=PS11PR00
[5] http://mgma.com/about
Tuesday, June 14, 2011
Physicians leaving practices for health system employment
This writer has a finger on the pulse and trends of Medicine!
By kcheung
Created Jun 13 2011 - 2:03pm
By 2013, less than a third of physicians will be in private practice, electing instead for employment with larger health systems, according to a new report released today by management consulting company Accenture Health. The rate of independent physicians employed by health systems will grow by an annual rate of 5 percent over three years, according to the report.
Burdened by administrative responsibilities of their private practices, physicians are increasingly attracted to the resources that health systems offer, as well as manageable work weeks and job stability, notes the report.
The employment trend is spreading nationwide. For example, Texas last month lifted a statewide ban that now permits rural hospitals to employ physicians. For supporters of the legislation, SB 894 will attract physicians to underserved communities.
The employment trend is spreading nationwide. For example, Texas last month lifted a statewide ban that now permits rural hospitals to employ physicians. For supporters of the legislation, SB 894 will attract physicians to underserved communities.
"We see an increasing number of physicians leaving private practice to join hospital systems, which will force all stakeholders to revise and refine their business models, product offerings and service strategies," said Accenture Health Senior Executive Kristin Ficery.
The trend of physician employment will require that hospitals adjust their recruitment and retention methods, especially in growing service lines, such as cardiovascular care, orthopedics, cancer care, and radiology, according to the consulting firm. In addition, Accenture anticipates that patients will increasingly shift their care from private practices to large health system settings.
The trend of physician employment will require that hospitals adjust their recruitment and retention methods, especially in growing service lines, such as cardiovascular care, orthopedics, cancer care, and radiology, according to the consulting firm. In addition, Accenture anticipates that patients will increasingly shift their care from private practices to large health system settings.
Thursday, June 9, 2011
The Healthcare Overhaul will be struck down in Atlanta!
The below article is showing that the Atlanta Federal Court will strike down the Healthcare overhaul! And they should. If I may...here is what America should do: Pay Physicians more, Pay Third party payor administrators less, Malpractice tort reform, and hold Americans accountable for keeping themselves healthy!
One more thing....The Government cannot force Americans to "buy" insurance (or anything else), the Commerce Act does dictate that The American Government can force me to spend my money! If first insurance, then what is next? Think about it!
One more thing....The Government cannot force Americans to "buy" insurance (or anything else), the Commerce Act does dictate that The American Government can force me to spend my money! If first insurance, then what is next? Think about it!
By The Associated Press
Published: June 08, 2011
Updated: June 08, 2011 - 12:58 PM
Published: June 08, 2011
Updated: June 08, 2011 - 12:58 PM
ATLANTA (AP) - The latest round in the fight over President Barack Obama's health care overhaul was held Wednesday in the federal appeals court in Atlanta.
A three-judge panel of the 11th Circuit Court of Appeals heard oral arguments on whether to reverse a Florida judge's ruling that struck down the law. The judges seemed receptive to arguments from critics challenging the health reforms as unconstitutional during the three-hour hearing.
Some 26 states opposing the law and an alliance of small businesses argue that Congress didn't have the power to require virtually all Americans to maintain health insurance. The Justice Department says the legislative branch exercised its "quintessential" right.
A three-judge federal appeals court panel in Cincinnati heard arguments last week about whether the law's mandate to buy health insurance went beyond congressional authority, and a federal appeals court based in Richmond, Va. heard oral arguments May 10 in another legal challenge to the law.
Lawyers on both sides have said the cases ultimately will be decided by the U.S. Supreme Court. But the appeal court panel's decision in Atlanta is being closely watched and could help shape the debate.
There's considerable legal firepower on both sides of the argument. Former U.S. Solicitor Paul Clement represents the challenging states and current U.S. Solicitor Neal Katyal will speak for the government.
It unfolded in what's considered one of the nation's most conservative appeals courts. But the randomly selected panel includes two appointees of Democratic President Bill Clinton, and observers say it's hard to predict how they'll decide. The Clinton appointees are circuit Judges Frank Hull and Stanley Marcus, while Chief Judge Joel Dubina was tapped by President George H.W. Bush.
Two similar lawsuits are pending in Virginia. Three federal judges, all Democratic appointees, have upheld the law. Two federal judges, both Republican appointees, have invalidated it.
At issue Wednesday is a ruling by U.S. District Judge Roger Vinson, a Republican-appointed judge in Florida. It not only struck down a requirement that nearly all Americans carry health insurance, but it threw out other provisions ranging from Medicare discounts for some seniors to a change that allows adult children up to age 26 to remain on their parents' coverage.
A crush of people gathered outside the 11th Circuit nearly three hours before the arguments were held to guarantee a spot, and the court opened an adjoining courtroom for the spillover crowd. The courtroom was packed with high-profile attorneys and politicians, including Georgia Attorney General Sam Olens, who sat in the front row.
The court also decided to temporarily suspend some of its own rules to sell $26 audiotapes of the arguments to those who want recordings of the court sessions.
Outside the federal courthouse in Atlanta, about 75 people gathered on the sidewalk carrying signs ranging from "Hands off my health care" to "No taxpayer funded abortion" and "Throw the socialist out of the White House." No chanting was permitted. One woman who repeated "No more Tea Party" was escorted away by a courthouse security officer.
A three-judge panel of the 11th Circuit Court of Appeals heard oral arguments on whether to reverse a Florida judge's ruling that struck down the law. The judges seemed receptive to arguments from critics challenging the health reforms as unconstitutional during the three-hour hearing.
Some 26 states opposing the law and an alliance of small businesses argue that Congress didn't have the power to require virtually all Americans to maintain health insurance. The Justice Department says the legislative branch exercised its "quintessential" right.
A three-judge federal appeals court panel in Cincinnati heard arguments last week about whether the law's mandate to buy health insurance went beyond congressional authority, and a federal appeals court based in Richmond, Va. heard oral arguments May 10 in another legal challenge to the law.
Lawyers on both sides have said the cases ultimately will be decided by the U.S. Supreme Court. But the appeal court panel's decision in Atlanta is being closely watched and could help shape the debate.
There's considerable legal firepower on both sides of the argument. Former U.S. Solicitor Paul Clement represents the challenging states and current U.S. Solicitor Neal Katyal will speak for the government.
It unfolded in what's considered one of the nation's most conservative appeals courts. But the randomly selected panel includes two appointees of Democratic President Bill Clinton, and observers say it's hard to predict how they'll decide. The Clinton appointees are circuit Judges Frank Hull and Stanley Marcus, while Chief Judge Joel Dubina was tapped by President George H.W. Bush.
Two similar lawsuits are pending in Virginia. Three federal judges, all Democratic appointees, have upheld the law. Two federal judges, both Republican appointees, have invalidated it.
At issue Wednesday is a ruling by U.S. District Judge Roger Vinson, a Republican-appointed judge in Florida. It not only struck down a requirement that nearly all Americans carry health insurance, but it threw out other provisions ranging from Medicare discounts for some seniors to a change that allows adult children up to age 26 to remain on their parents' coverage.
A crush of people gathered outside the 11th Circuit nearly three hours before the arguments were held to guarantee a spot, and the court opened an adjoining courtroom for the spillover crowd. The courtroom was packed with high-profile attorneys and politicians, including Georgia Attorney General Sam Olens, who sat in the front row.
The court also decided to temporarily suspend some of its own rules to sell $26 audiotapes of the arguments to those who want recordings of the court sessions.
Outside the federal courthouse in Atlanta, about 75 people gathered on the sidewalk carrying signs ranging from "Hands off my health care" to "No taxpayer funded abortion" and "Throw the socialist out of the White House." No chanting was permitted. One woman who repeated "No more Tea Party" was escorted away by a courthouse security officer.
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