Every American should have access to high quality, affordable healthcare. The US spends nearly double the average of other comparable nations yet has among the shortest life expectancies of those same comparable countries.
Healthcare premiums for the average American family with employer-sponsored insurance is around $20,000 per year, $14,000 paid by the employer and $5,500 by the worker. That cost is more than a third of the U.S. median household income and is nearly 40% of median household income in Kentucky.
These rising healthcare costs have caused 95% of the wage stagnation over the last two decades as businesses and workers have absorbed more and more healthcare expenses. Increasing resources going to healthcare strain government, businesses and individuals’ budgets.
Unfortunately, paying more for care does not mean we get better or safer care or are healthier as a result. In fact, sometimes the most expensive treatments are not the best. In many cases, they are unnecessary and could even be harmful to patients. Paying less for care that is not high quality also does not drive better value and often results in more spending.
Employers are the sleeping giants in controlling healthcare costs, and often feel at a loss for how to control their rising healthcare costs year after year. It is critical to activate all size purchasers of healthcare to drive an accountable, high value healthcare system. The KHC works collaboratively with multiple healthcare stakeholders to improve health, price, and waste and move toward a more affordable, value-based healthcare delivery system that does not incent volume over value.
The KHC’s key initiatives to drive healthcare affordability include:
Hospital Price Transparency Study
Advancing price transparency through purchaser engagement
U.S. employers spend billions of dollars on health care services. However, a lack of information limits the ability of employers to monitor the prices negotiated on their behalf, to implement innovative insurance benefit designs, and to ensre insurers are negotiating favorable prices. If employers have access to the information on prices needed to be better-informed customers, they can do a better job shopping for healthcare on behalf of their employees.
KHC President and CEO Randa Deaton has been elected Vice Chair for the National Alliance of Healthcare Purchaser Coalitions (National Alliance) Board of Governors. Deaton previously served on the Board of Governors, but this is her first term as Vice Chair. The National Alliance is the only nonprofit, purchaser-led organization […]
As the Kentuckiana Health Collaborative continues to add projects that drive health and healthcare delivery in the region, the coalition has hired a part-time staff member to support various projects. Hallie Decker, the KHC’s new Project Administrative Assistant, was added to develop marketing and communication materials, support event planning, and […]
(Editor’s Note: This guest post was written by Bonita Bobo, Heart Disease & Stroke Prevention Manager for the KY Department for Public Health) Unfortunately, Kentuckians have high rates of heart disease, heart attack and stroke, as well as high blood pressure and high cholesterol, which increase the risk of stroke […]