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Medicare Paperwork For All

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In 2014, the net cost of health insurance in the US was almost $200 billion, mostly for billing expenses. How can these costs be lowered?

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Medicare Paperwork For All

  1. 1. Medicare Paperwork For All Full article on BloombergView PETER ORSZAG
  2. 2. In making his case for universal health care, Senator Bernie Sanders has reignited a debate over whether the U.S. should have a single-payer system.
  3. 3. But it’s possible to simplify billing and claims processing in health care without making such an extreme change.
  4. 4. In 2014, the net cost of health insurance in the U.S. was almost $200 billion, mostly for billing expenses. $200BILLION
  5. 5. These costs can readily be lowered.
  6. 6. Other countries with mixed private-public systems have admin processes that cost 25% - 60% less than ours. The Center for American Progress has assembled several proposals that it estimates could save $40 billion a year.
  7. 7. First step? Simplify the transaction process involved in billing and processing claims.
  8. 8. The consistency of a one payment-processing system would reduce errors and save as much as: 25%ON CLAIMS PROCESSING
  9. 9. Instead of Medicare for all, as Sanders proposes, perhaps we just need Medicare processing for all.
  10. 10. It may not sound as sexy, but it’s much more achievable -- and would bring significant savings.
  11. 11. Read the full article at BloombergView