change healthcare hcti q4 2013 infographic
DESCRIPTION
Change Healthcare’s latest quarterly Healthcare Transparency Index (HCTI) shows nine medical procedures with high costs and price variances as high as 796 percent. Even within a given network, charges for pharmacy, medical and dental services often vary by more than 300 percent. The HCTI report, available at http://www.changehealthcare.com/resources/publications/hcti, is a quarterly measure of the costs and cost variability of various medical and dental services that consumers purchase on a recurring basis over time. The source of the healthcare cost data is the aggregation of in-network medical and dental claims from credentialed providers across all Change Healthcare clients, which has geographic coverage that spans nationally and covers more than 7 million lives.TRANSCRIPT
Healthcare Transparency Index
1. 2014 National Business Group on Health Survey. Towers Watson.2. 2013 A�ac WorkForces Report. 3. Mercer. National Survey of Employer-Sponsored Health Plans. April 2014 4. NBGH - Plan Design Survey 2013. 5. “Signi�cant choice and lower than expected premiums available in the new Health Insurance Marketplace.” Department of Health and Human Services. September 2013. 6. “Deductibles, Out-Of-Pocket Costs, and the Affordable Care Act.” HealthPocket. May 2014.7. “Consumers’ Misunderstanding of Health Insurance,” Journal of Health Economics, George Loewenstein et al., September 2013. 8. Change Healthcare database.
® 2014 Change Healthcare Corporation
Q4 2013 Published May 2014
Reviewing the Year of Transparency
GOLD
plan pays 80% you pay 20%
PLATINUM
plan pays 90% you pay 10%
42%1
CONSUMERS PAYERS
SILVER
CONTRIBUTION INCREASE
(IN LAST 5 YEARS)
CDHPS72%
have not heard the phrase “consumer-driven healthcare”2
EXCHANGES
86%
CONSUMERS ARE NOW SHOPPING FOR COVERAGE
VS.
...AND SHOPPING FOR CARE
LEARN MORE AND VIEW THE FULL HCTI http://www.changehealthcare.com/resources/publications/hcti
Most Important HR Objective for Companies in 2013:
CONTROLLING HEALTH/MEDICAL COSTS2
healthcare costs are expected to rise 7.5% in 2013 2
average annual salary increased 1.6% past 3 years1
COST OF COVERAGE
$2,975 $11,9381
32%1
39% employers offered CDHPs
in 20133
76% are NOT knowledgeable
of exchanges2
31% of employers are considering
moving to exchanges by 20154
COST
$307 - $2,747
$1,246 - $3,599
$121 - $485
$135 - $397
$6,680 - $17,619
VARIABILITY
C-Section
Mammogram
CT Scan
Of�ce Visit(with diabetes screening)
796%
189%
300%
195%
164%
$511 - $2,815MRIs 451%
SERVICE
Colonoscopy(screening)
Average costs for individual medical coverage
premium.................................................................. $3285
$2,907$5,730
6
deductible...............................................................
out-of-pocket max...................................................
BRONZE
plan pays 60% you pay 40%
plan pays 70% you pay 30%
of consumers don’t understand common health terms7
CONSUMERS ARE 4X MORE LIKELYTO SHOP FOR HEALTHCARE After Being Proactively Engaged with Change Healthcare Tools
8
Source: Change Healthcare HCTI. Q4 2013. May 2014