SHOTS IN THE DARK ON HEALTHCARE COSTS
I tried to look into what is driving the cost inflation of health care services a long while back.
I submit that no one knows, except perhaps a few insurance industry professionals.
Despite government mandated statistics, we simply do not have enough data to pinpoint the sources of cost inflation.
I have yet to see a table that says, "Last year, we have 7% overall rise in insurance premia, 5% for government and 7.5% for private. Overall health costs themselves rose 6%, broken down into three main segments of 9%, 8%, and 4%, and 3%. Listed below, by segment are the details of which services prices rose the fastest. Regional cross-section is provided in table 2. Government crosstab is provided in table 3. Cost inflation related by disease management category are in the next section. Increased uptake/usage statistics and relevant changes in co-pays and other coverage are in the next section. Our analysis is in the next section, in which we isolate impact on price inflation of shifts in treatment types. et cetera."
I believe there is an aged McKinsey study that everyone points to, but that is not fine enough grain. It's private. Surprised?
I believe there is an aged McKinsey study that everyone points to, but that is not fine enough grain. It's private. Surprised?
