Approximately $700 Billion Healthcare dollars are wasted each year. These dollars, instead of improving health outcomes by providing better care, pay for more care (i.e. more tests and days spent in the hospital).
Below, the waste has been categorized into Preventable Conditions and Avoidable Care, Lack of Care Coordination, Provider Inefficiency and Errors, Administrative System Inefficiencies, Fraud & Abuse and Unwarranted Use. Unwarranted Use represents a whopping 40% of the healthcare dollars wasted at approximately $250-$325 billion dollars. Unwarranted use can be roughly described as care that provides no or only marginal value to either the diagnosis of a patient’s condition or effective treatment of a diagnosed condition. In most cases it occurs in order to reduce medical liability through, "defensive medicine".
All categories of waste can be significantly reduced with modified behavior, individuals pursuing healthier lifestyles, simplifying the administrative process of healthcare, and proper coordination of patient files and treatment availability.
PayerFusion offers Health Plan Administration and Cost Containment Services for International Payers and Self-Funded Insurers.