Fed up with rising costs, big U.S. firms dig into healthcare

https://www.reuters.com/article/us-...g-u-s-firms-dig-into-healthcare-idUSKBN1J70ZZ

SAN JOSE, Calif. (Reuters) - At its Silicon Valley headquarters, network gear maker Cisco Systems Inc is going to unusual lengths to take control of the relentless increase in its U.S. healthcare costs.

The company is among a handful of large American employers who are getting more deeply involved in managing their workers’ health instead of looking to insurers to do it. Cisco last year began offering its employees a plan it negotiated directly with nearby Stanford Health medical system.

Under the plan, physicians are supposed to keep costs down by closely tracking about a dozen health indicators to prevent expensive emergencies, and keep Cisco workers happy with their care. If they meet these goals, Stanford gets a bonus. If they fail, Stanford pays Cisco a penalty.
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Sounds like a good idea. I hope the Republicans don't get in the way & foul things up.

JacksinPA said:

https://www.reuters.com/article/us-...g-u-s-firms-dig-into-healthcare-idUSKBN1J70ZZ

SAN JOSE, Calif. (Reuters) - At its Silicon Valley headquarters, network gear maker Cisco Systems Inc is going to unusual lengths to take control of the relentless increase in its U.S. healthcare costs.

The company is among a handful of large American employers who are getting more deeply involved in managing their workers’ health instead of looking to insurers to do it. Cisco last year began offering its employees a plan it negotiated directly with nearby Stanford Health medical system.

Under the plan, physicians are supposed to keep costs down by closely tracking about a dozen health indicators to prevent expensive emergencies, and keep Cisco workers happy with their care. If they meet these goals, Stanford gets a bonus. If they fail, Stanford pays Cisco a penalty.
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Sounds like a good idea. I hope the Republicans don't get in the way & foul things up.

Click to expand...

Interesting concept! I wonder how it's going to work out.

This system is a stopgap, and I guarantee that Cisco hates the fact that it has to do it. I never understood how pro-business people can be so staunchly against a national health system. As it currently stands businesses that aren't health insurance companies spend a disproportionate amount of time and resources on managing their health insurance plans. It's a huge drain on companies to not only pay these exorbitant fees, but have so much organizational time and resources dedicated to it.

JacksinPA said:

https://www.reuters.com/article/us-...g-u-s-firms-dig-into-healthcare-idUSKBN1J70ZZ

SAN JOSE, Calif. (Reuters) - At its Silicon Valley headquarters, network gear maker Cisco Systems Inc is going to unusual lengths to take control of the relentless increase in its U.S. healthcare costs.

The company is among a handful of large American employers who are getting more deeply involved in managing their workers’ health instead of looking to insurers to do it. Cisco last year began offering its employees a plan it negotiated directly with nearby Stanford Health medical system.

Under the plan, physicians are supposed to keep costs down by closely tracking about a dozen health indicators to prevent expensive emergencies, and keep Cisco workers happy with their care. If they meet these goals, Stanford gets a bonus. If they fail, Stanford pays Cisco a penalty.
=========================================
Sounds like a good idea. I hope the Republicans don't get in the way & foul things up.

Click to expand...

Sounds like a good idea to me, too.

But I don't think you have to worry about the Republicans. They are generally supportive of more choices for people. It's the Dems you have to worry about, what with their one-size-fits-all mentality.

Khayembii Communique said:

This system is a stopgap, and I guarantee that Cisco hates the fact that it has to do it. I never understood how pro-business people can be so staunchly against a national health system. As it currently stands businesses that aren't health insurance companies spend a disproportionate amount of time and resources on managing their health insurance plans. It's a huge drain on companies to not only pay these exorbitant fees, but have so much organizational time and resources dedicated to it.

Click to expand...

A lot of these costs stem from the artificial inflation of drug prices. I visited my urologist recently & got a prescription for a urinary drug that was recently launched in a nasal inhaler in order to accurately regulate dosing. My drug insurance doesn't cover it & the copay from CVS was $533 for a 3-month supply. I've had my nose cauterized 2-3 times over the years & have to use a humidifier during the heating season. When I saw that nose bleeds was one of the side effects of using this inhaler, I called my urologist's nurse. He relented & will continue to prescribe the cheap tablet form but he wants me to get a blood test every 3 months to make sure my sodium level is OK. One of the side effects of taking too much of this drug is low blood sodium, called hyponatremia, which can put you into a coma & kill you, so he's ethically & legally required to make sure I stay on the right road.

Drug companies have successfully lobbied to prevent bargaining prices down. Obama had to acquiesce to them to get the ACA done or they would have uses their considerable lobbying power to stop Obamacare. The other is administrative costs which is inherent in so many private insurers and health organizations having their own systems, paperwork and bureaucracy. Cost of medical devices are also in the top 3. We’ve known about those 3 for years. But there’s a 4th “hidden” insidious one where the cost is incalculable. Development of new health procedures by doctors that could reduce cost are inhibited by the powers that be. Why should a doctor spend time on what he won’t be funded for because it will never get launched?

Warren Buffett, and Jamie Dimon of JP Morgan, got together and formulated a plan to attract lower cost organization without reducing quality of care that Jeff Bezos’ Amazon has also joined. This is what happens what the private sector gets off their greedy, lazy, government and politically protected butts to serve the entire public, which they’ve failed to do. When the private sector fails in doing such, that’s when the government has every right, and should, step in.

https://www.geekwire.com/2018/warren-buffett-reveals-details-healthcare-venture-jpmorgan-amazon/