Budgeting
Despite this cost increase, 95% of employers are very confident their organization will continue to sponsor healthcare benefits to active employees.
PAP adherence also was associated with a significantly lower number of emergency department visits and inpatient stays.
A tiny fraction of healthcare executives, 5%, said clinical integration is their supply chain't top priority.
Some hospitals are actively enhancing their clinical product lines via outsourcing, which they say increases patient satisfaction.
Administrative complexity accounted for the most waste, estimated at $256.6 billion, and pricing failure was a close second.
Organizations that can better predict volumes and react to changes will have a competitive advantage in the industry.
With benefits costs expected to climb 5% in 2020, employers are engaging in efforts to stem the increases.
While the outlook for the rest of the year remains positive, global economic uncertainty is causing a conservative investment approach.
Real-time tracking technologies allow the organization to monitor everything from patients to medical equipment.
Medical costs in the U.S. will rise more slowly compared to other regions, with Latin America, Africa and the Middle East seeing the most change.