Physicians Still Searching for Financial Benefits From HMOs.Business, Health & Medical Editors NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and IRVING Irving, city (1990 pop. 155,037), Dallas co., N Tex., a suburb of Dallas; inc. as a city 1952. Building supplies, chemicals, electronic equipment, and airplane parts are manufactured in Irving. , Texas--(BUSINESS WIRE)--March 22, 2000 58 Percent of Doctors Report Negative Financial Experience with Health Plans, According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Deloitte & Touche/VHA Inc. Annual Trends Report Despite managed care's intention that increased marketshare will off-set discounts in reimbursement Reimbursement Payment made to someone for out-of-pocket expenses has incurred. and increases in administration costs, the 15th annual Health Care 2000 report reveals that most physicians fail to see an improvement in their financial performance when contracting with HMOs. According to the Deloitte & Touche and VHA VHA Veterans Health Administration VHA Variable Housing Allowance VHA Villages Homeowners Association VHA Voluntary Hospitals Association VHA Virtual Home Agent VHA Very High Altitude VHA Vapor Hazard Area VHA Vermont Holstein-Friesian Association Inc. Health Care 2000 report released today, which provides an in-depth in-depth adj. Detailed; thorough: an in-depth study. in-depth Adjective detailed or thorough: an in-depth analysis examination of health care industry trends over the last year, 58 percent of physician practices feel that managed care has negatively impacted their overall financial success. The report, however, identifies that one-fourth (25 percent) have found managed care to deliver a positive financial experience. "The lack of financial success by physicians dealing with health plans is symptomatic symptomatic /symp·to·mat·ic/ (simp?to-mat´ik) 1. pertaining to or of the nature of a symptom. 2. indicative (of a particular disease or disorder). 3. of an industry as a whole that is still unable to manage costs. And we are finding that the price of health care for providers and buyers is expected to continue to rise substantially over the next several years," said Merlin Merlin, in Arthurian legend, magician, seer, and teacher at the court of King Vortigern and later at the court of King Arthur. He was a bard and culture hero in early Celtic folklore. In Arthurian legend he is famous as a magician and as the counselor of King Arthur. Olson Olson may refer to:
"We've we've Contraction of we have. we've have observed that payors and providers are now shifting towards new consumer-centric business models to combat rising costs and increase revenue flow," stated Daniel Daniel, book of the Bible Daniel, book of the Bible. It combines "court" tales, perhaps originating from the 6th cent. B.C., and a series of apocalyptic visions arising from the time of the Maccabean emergency (167–164 B.C. Bourque, group senior vice president, VHA, a nationwide network of community-owned health care organizations and their affiliated physicians. "While this may increase near-term costs for participants, it is likely that patients will be willing to pay for these additional expenses in exchange for a broader selection of physicians, better access to information and greater control over their health care decisions." While the effect of managed care on physicians' financial success is one of the key findings highlighted in Health Care 2000, the 170-page report also explores the total health care landscape through more than 180 charts and graphs, and examines other critical industry trends such as: -- Limited Funds Hinder hin·der 1 v. hin·dered, hin·der·ing, hin·ders v.tr. 1. To be or get in the way of. 2. To obstruct or delay the progress of. v.intr. Technological Advancements Advances in technology hold more promise for improving health care than any other force in the industry, according to the Deloitte & Touche and VHA report. This is due to technology's ability to enhance overall processes, reduce costs, and increase the rate of information transfer between industry players. Health Care 2000, however, indicates that 69 percent of health care organizations cite inadequate financial resources as the most common obstacle to implementing information technology solutions. In addition, 66 percent of health care organizations reported that overworked staff and limited staff size contributed to their inability to incorporate the use of many IT solutions into their operations. Other obstacles included the lack of staff expertise and the lack of employee training or knowledge. -- Medical Errors Can Be Greatly Reduced by Pharmacist pharmacist /phar·ma·cist/ (fahr´mah-sist) one who is licensed to prepare and sell or dispense drugs and compounds, and to make up prescriptions. phar·ma·cist n. Participation An estimated one million people are injured in·jure tr.v. in·jured, in·jur·ing, in·jures 1. To cause physical harm to; hurt. 2. To cause damage to; impair. 3. by errors during hospital treatment annually and 120,000 people die as a result, according to the report. Given these startling star·tle v. star·tled, star·tling, star·tles v.tr. 1. To cause to make a quick involuntary movement or start. 2. To alarm, frighten, or surprise suddenly. See Synonyms at frighten. figures, industry members have been searching for ways to reduce medical errors. For example, research included in Health Care 2000 demonstrates that if a pharmacist devoted 50 percent of his/her time to accompany physicians on their patient rounds, there would be a 66 percent reduction in medication errors medication error Malpractice An error in the type of medication administered or dosage. See Adverse effect, Error. - with cost savings estimated at an average $270,000 per hospital per year. This is a direct result of the pharmacist correcting incomplete or inappropriate drug orders and providing information on doses, interactions, indications, and drug alternatives to physicians and nursing staff. "The issue of reducing medical errors has been a heated political topic, and will continue to be controversial in the next several years," remarked Bourque. "We believe that the key to decreasing these errors will be to properly identify them, analyze the causes, and then change the system and/or processes to prevent them from happening in the future." -- Employers' Health Care Plan Decisions Driven By Price Despite recent consumer demands for better quality of service, Health Care 2000 indicates that price continues to drive large employers' health plan decisions. The report reveals that 93 percent of large employers are more likely to choose plans based on cost than any other factor, including quality issues such as physician reputation and employee satisfaction rates. Although quality issues overall remain secondary to cost, the percentage of large employers who considered detailed quality reporting to be an important health plan attribute increased from 37 percent to nearly 60 percent since 1996. "As health care costs continue to rise and as an emphasis is placed on bottom-line results, it is no surprise that pricing still remains the highest consideration for most employers selecting health plans. The issue is then further complicated by the fact that there is currently no universal definition of quality in the health care industry," said Olson. "Regardless, I believe there needs to be a better balance of delivering high quality care, while maintaining reasonable costs for patients, employers, and providers." -- Health Care Costs Continue to Rise for Providers and Buyers According to the report by Deloitte & Touche and VHA, costs for both providers and buyers are anticipated to continue to rise in the near future. It is expected that higher costs for providers will be largely attributed to spending for information technology, clinical technology, and labor. Additionally, costs for buyers are expected to increase because of factors such as the aging and growing population, medical technology, and drugs. "With health care costs anticipated to be on the rise, it will be necessary for industry players to find new ways of either off-setting the expenses or providing a better value proposition to make the increased prices worth paying for by consumers," said Olson. About Health Care 2000: A Strategic Assessment of the Health Care Environment Health Care 2000, formerly called the Environmental Assessment study, has been widely acclaimed ac·claim v. ac·claimed, ac·claim·ing, ac·claims v.tr. 1. To praise enthusiastically and often publicly; applaud. See Synonyms at praise. 2. as one of the most comprehensive annual studies in the health care industry. The 170-page report offers a series of conclusions about the present and observations about the future that are important for health care organizations to understand as they develop strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. for the future. In order to provide an in-depth examination of major trends in the health care industry over the last year, Health Care 2000 compiles more than 180 charts and graphs from a number of primary and secondary sources. To order a copy of Health Care 2000, please call (800) 931-0053. About VHA Inc. VHA Inc. is a nationwide network of 1,900 leading community-owned health care organizations and their affiliated physicians. The VHA alliance comprises 27 percent of the nation's community hospitals, including many of the nation's largest and most respected institutions. VHA offers programs and services to improve financial and clinical performance, and as a cooperative distributes income annually to members based on their participation. For more information on VHA, go to http://www.vha.com. About Deloitte & Touche Deloitte & Touche, one of the nation's leading professional services firms, provides assurance and advisory, tax, and management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects services through 30,000 people in more than 100 U.S. cities. The firm is dedicated to exceeding the expectations of its clients and its people. Known as an employer of choice for its innovative human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. programs, Deloitte & Touche has been recognized as one of the "100 Best Companies to Work for in America" by Fortune magazine for three consecutive years. Deloitte & Touche is part of Deloitte Touche Tohmatsu Deloitte & Touche (also referred to as Deloitte Touche Tohmatsu, and branded as Deloitte.) is the second largest professional services firm in the world, and one of the Big Four auditors, along with PricewaterhouseCoopers, Ernst & Young and KPMG. , one of the world's leading professional services firms, with more than 90,000 people in over 130 countries. For more information, please visit Deloitte & Touche's web site at www.us.deloitte.com |
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