Health Care Industry News

Humana Study Shows $265 Billion Is Wasted Each Year on Health Care

Since 2014 the rate of insured Americans had been increasing, however, since 2017, the rate of uninsured has increased from 25.6 million people to 27.5 million.

Health care advocates point to a decline in coverage under public health programs such as Medicaid. The number of people with private insurance didn’t significantly change but it “cut against the employment trend in a strong economy.” Read more about this trend.

Source: Wall Street Journal 

Four Signs You’re Not Taking Cybersecurity Seriously Enough

As corporations grow and new technologies and products enter the marketplace with connectivity and artificial intelligence, the cybersecurity risks associated with those technologies has to be considered

Here are four signs leadership isn’t taking cybersecurity seriously enough.

1.    Introducing new devices without considering security.
2.    Unable to answer basic cybersecurity questions.
3.    Placing all responsibility for cybersecurity on IT.
4.    Complacent in staying on top of new security measures.

Read more in-depth information about cybersecurity issues.

(Source: ChiefExecutive.net)

Value-Based Health Care Survey Results

Nearly 800 health care leaders were surveyed to find out the “biggest barriers stakeholders face when transitioning to a value-based care system.”
Respondents were from all areas of health care including providers, HR, IT, financial services and biotech.

• Respondents said a lack of resources (staff, insufficient health care software) ranked as the biggest barrier (25%) to actually implementing value-based health care.
• Internal and external interoperability gaps represented 20% of the rest.
• Financial risk and unpredictable revenue streams ranked at 17%.
• Changing policies and regulations were at 16% and
• Trouble collecting and reporting patient information was 14%.

For more in-depth information read more.
(Source: Healthcare Innovation)

Predictive Artificial Intelligence (AI) and Machine Learning

Using AI and machine learning to help improve outcomes and reduce unnecessary spending is the future of health care. AI and machine learning can help reduce the costs associated with health care because they can predict re-admission, fraudulent claims, duration of illness, and proper reimbursable codes.

Currently, hospitals lose 70% of revenues by not performing the right reimbursable codes and through referral leakage outside the network. Fraudulent or improperly coded claims are a 200-billion-dollar problem that can be better anticipated with AI technology. Watch this video about delivering proactive care through AI.

(Source: Healthcare IT News)

2019 SIIA Conference Winners!

Thank you to everyone who visited our booth during the SIIA conference in San Francisco. We enjoy speaking to you and getting to know your benefits administration needs.

Our annual contest brought us four winners who each won a $50 gift card for themselves and for the charity of their choice. Congratulations to winners Emily Bean (Children's Miracle Network), Diane Davidson (Salvation Army), Jack Sullivan (Ronald McDonald House), and McCain Ashurst (Wounded Warriors) and their charities!

Didn't get a chance to stop by our booth? Check out our website to learn more about who we are and how we can help you!