Did You Know? Healthcare Edition

By BDO

• In 2013, long-term care providers sustained more than $7.7 billion in allowable costs, which weren’t reimbursed by the Medicaid program, according to a report from the American Health Care Association/National Center for Assisted Living.
• Analysts at Bloomberg Industries report the pharmaceutical industry lost more than $60 billion in revenue to cheaper generic competition from 2010 to 2012, estimating another $50 billion may be lost in the next five years.
• Fifty-four of the 114 low-risk Medicare Shared Savings Programs (MSSP) ACOs that began operating in 2012 reported lower expenditures than projected, according to the Centers for Medicare & Medicaid Services.
• Healthcare advisory firm Avalere Health reports three-quarters of Medicaid enrollees will receive their benefits through a managed care organization (MCO) as of 2015.
• According to Black Book’s survey of 464 long-term and post-acute care providers, nearly half of all post-acute care providers forecast being acquired by a more technologically superior organization or corporation in 2015, while 21 percent predict bankruptcy, dissolution of closed services.
• In a January report released by the Centers for Medicare & Medicaid Services, investigators examined more than 1.7 million Medicare claims for certain hospital admissions filed in 2008. Thirty-nine percent of these hospital admissions went on to utilize Medicare post-acute services, ranging from $5,700 to $14,500.
• Of the eight million Americans who have long-term care insurance, January numbers report that premium costs declines in the past several years for men, while costs for women increased, accounting to the American Association for Long-Term Care Insurance.
• According to the U.S. Department of Health and Human Services, more than one in four Americans suffers from pain that lasts longer than 24 hours and millions more suffer from acute pain. Affecting more Americans than diabetes, heart diseases and cancer combined, chronic pain is cited as the most common reason Americans access the healthcare system.