The cost of care: navigating an uncertain health care landscape

 

All across the country, people are mystified by the cost of care. Why have health care costs soared so dramatically over the past 50 years? What elements contribute to the cost of care? What is being done to turn the situation around?
While Blue Cross Blue Shield of Michigan doesn’t have all the answers, we are committed to exploring what can be done to stem the tide of rising health care costs.
One way we’re doing it is through our Value Partnerships initiative. This series of collaborations among the Blues, physicians and hospitals is improving health care quality while controlling health care costs. For example:
·         Physicians participating in BCBSM’s Physician Group Incentive Program have dramatically reduced use of radiology services without impacting quality, resulting in savings of approximately $9.46 million in 2009.
·         A total of $13 million was saved in one year by decreasing ventilator-related pneumonia through one of these collaborations.
·         The Blues’ Cardiovascular Consortium saves an estimated $15.2 million annually in statewide health care costs, by reducing complications and increasing safety for angioplasty patients
At Blue Cross, we will continue our efforts to reduce health care costs in Michigan by working with our physician and hospital partners.   By working together, we are discovering how to reduce and prevent complications, and provide better, safer, higher quality health care for Michigan residents.  That’s key to controlling the cost of care.
To learn more about Value Partnerships, visit valuepartnerships.com and click on the Programs and Studies tab.

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