The Growing Cost of Healthcare (and what we can do to fix it)

August 12, 2021

We in the United States have a broken healthcare system.

Prices are rising while communities are getting sicker and sicker. In fact, 88% of deaths in America now result from noncommunicable diseases (NCDs). And that number is on the rise. 

 

The Growing Cost of Healthcare

Our latest infographic, The Growing Cost of Healthcare & Consumers’ Demand for Change, explores precisely where healthcare is headed and what hurdles are in the way. Two significant factors are impacting healthcare—first, the rise of NCDs. Second, the system is incentivized NOT to change. For example, did you know that employer-provided healthcare premiums have risen 37% since 2015? Simply, that is not sustainable. 

The problems don’t stop there. There’s a multitude of issues facing the global health care sector. Socio-economic shifts, struggles with interoperability, and changes in the workforce all shape how the industry can and does provide care. Not to mention that with the rise in digital technology, consumers are more empowered than ever to make demands about their care.

 

 

We must understand these challenges and how we can overcome them.
Luckily, the landscape is seeing a lot of positive change too. For example, the rise in digital solutions and AI predictive modeling can make predicting and preventing disease easier. The pressure from consumers is likewise helping shift the market from reactive healthcare to proactive health and well-being.

While insurance companies may not be incentivized to change, this new healthcare landscape provides a critical opportunity for benefits consultants and self-insured employers. With predictive modeling, consultants and employers can develop insurance packages that save money while better serving their unique populations. Leveraging AI and machining-learning technologies available today, consultants can better profile the health, stratify the risk, and identify gaps in care in an intelligent, data-driven, and customized manner for their clients.

Check out our infographic to learn more.

[ Download Infographic ]

Related