New Health Industry Business Models Driven by Expanded Care - Health Minute for November 25, 2013

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New Health Industry Business Models Driven by Expanded Care - Health Minute for November 25, 2013

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New #Health industry #business models driven by expanded care http://3bl.me/w5e7kh latest @3BLMedia Health Minute

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Monday, November 25, 2013 - 4:45pm

CAMPAIGN: The CSR Minute

CONTENT: Press Release

More doctors, health systems, and insurers are expanding the role of health care, from the hospital into patients’ homes and their daily lives. The aim is to keep patients with chronic conditions, nearly half of U.S. adults, out of the emergency room or hospital. Chronic diseases are among the most common, and costly, contributors to the nation's rising healthcare costs. Adults with chronic conditions such as heart disease and diabetes account for 75% of American healthcare spending, according to the Robert Wood Johnson Foundation. And two-thirds of the rise in healthcare spending is driven by increased cases of chronic disease and new technology to fight those diseases. Spending for hospital care, trips to the emergency room, clinic visits, prescriptions and other medical interventions totaled $116 billion for heart disease and $55 billion for diabetes in 2011. To reduce those costs, healthcare providers are focusing their attention on what people do before they show up in the ER. Insurers such as UnitedHealthcare Group, WellPoint, and Fairview Health Services are using methods from the fields of psychology and economics for more effective and efficient interventions against the social forces that undermine health, whether from inadequate income or a lifetime of bad habits. These new interventions mix strategies from the emerging field of patient engagement with behavioral economics, which seeks to understand why people make illogical choices. Developing incentives that guide the chronically ill to make better decisions for their health will be key to controlling the health costs of the future. I’m John Howell for 3BL Media.

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Video Source: New Health Industry Business Models Driven by Expanded Care

Keywords: 3bl Media | Health | Health Minute | Healthcare | business model | expanded care

CAMPAIGN: The CSR Minute

CONTENT: Press Release

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