Aug 1, 2019
Hemophilia is a rare blood clotting disorder that affects approximately 20,000 people in the United States and an estimated total of 400,000 people worldwide. The symptoms can range from mild to severe; but keeping it under control often dictates a need for prophylactic or preventative treatment to ensure that bleeding does not become an issue. Bleeding issues often lead to additional medical care, including hospital stays, which means additional costs for employers and the insured. Due to its rarity, the treatments are often extremely expensive. Hemophilia not only an impact upon a person's quality of life, but can be quite the financial...
Read MoreFiled Under: changes in healthcare, Corporate Benefits, hemophilia, high-cost drugs, medications, negotiate medical bills, Specialty Drugs
Jul 30, 2019
Have you ever thought about the fact that when you walk into an art gallery you are drawn to certain artists and the works they have created? This idea that in art one size does not fit all also applies to healthcare. We see numerous articles about how we as Americans comparison shop for our cars, dishwasher and almost anything else you can find on Amazon or other websites. In her article for Real Clear Health on the future of healthcare, Seema Verma states, "Our demand for a value is the engine that drives competition which, in turn, lowers prices and inspires...
Read MoreFiled Under: changes in healthcare, Health Management, healthcare quality, Insider, medical access
Jul 25, 2019
Hemophilia is a rare clotting disorder that causes blood to not clot properly. It causes more than normal bleeding when someone is injured and can be life threatening. This very rare and usually inherited disorder affects approximately 20,000 people in the United States. The severity of the disease can vary dramatically between affected individuals and the severity, from mild to severe would dictate the level of medical care one needs. It can not only be financially costly, something we will discuss in part 2, but also physically costly; which is what is discussed in part one of this article series. The basics...
Read MoreFiled Under: changes in healthcare, Corporate Benefits, high-cost drugs, medications, negotiate medical bills, Specialty Drugs
Jul 19, 2019
Drug wastage is defined as the portion of a medication bottle, syringe, or vial that is not given to a patient. Drug wastage has been found to contribute at least an additional two percent cost to total spending across all pharmaceutical lines. There are effects not only on patients due to the cost, but also to insurance companies, hospitals and other healthcare centers, and the patient’s or insured’s employers, especially when it is a smaller company. Nursing Home Drug Waste It should come as no surprise that nursing home residents consume a large amount of prescription drugs. It has been shown that 25%...
Read MoreFiled Under: elder care, healthcare quality, medications, overmedication, polypharmacy, preventive healthcare, too many pills
Jul 12, 2019
The pharmaceutical side of oncology and other specialty drugs is a multi-billion dollar business. This is one of the highest cost segments of pharmaceuticals to patients and insurance companies, and it is one of the highest profit areas for the pharmaceutical companies. In 2016, specialty drugs made up 40% of the $450 billion pharmaceutical market, which translates into $180 billion. This staggering amount of money is bad enough in itself, but what if I told you that some of those medications that make up that $180 billion was being wasted in hospitals and other healthcare centers every single day? How Can...
Read MoreFiled Under: cancer drugs cost, cancer treatments, elder care, Health Management, high-cost drugs, medications, overmedication, polypharmacy, Specialty Drugs, understanding insurance