A major concern for patients searching the health insurance marketplace is the cost of premiums, which are the out-of-pocket costs that are paid for health coverage. As of 2016, premiums are expected to rise above the regular inflation rate because medical claim costs will rise by 7 to 10 percent, according to a study.
Drug prices are also rising, causing premiums to go up. In 2017, premium plans sold through HealthCare.gov are expected to rise by 22 percent. Fortunately for your hospital, there are many ways you can combat rising premiums so that both patients and your hospital come out on the winning side.
A lot of hospitals are starting to put a huge emphasis on preventative care through wellness programs, education and proper diet. These tactics help patients save money on repeat visits, which can be easily avoided with the proper preventive measures. Preventing patient readmission is also important for your hospital because it helps you avoid wasting resources consequently lowering your annual expenditures.
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