Medical Cost Trend rose only 7% in 2011 and 7.5% in 2012, considerably slow growth over the past few years. PwC Health Research Institute projects medical costs will increase about 7.5% for 2013, the fourth year in a row of relatively flat growth.
Sandy Fenwick, President and COO of Boston Children's Hospital, speaks about the decline of medical cost growth, its contributors and effects on the healthcare industry. She shares that prevention, evidence-based medicine and proper utilization lower overall unit costs and are key deflators to the medical cost trend.
Watch Sandy delve into methods to strategically reduce healthcare cost growth in the video below.