Month: October 2019

Fraud And Abuse A Major Reason For Waste In The Us Healthcare Spending

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Health care fraud and abuse is an important and conspicuous factor in the resource and finance drain in the US healthcare system and is responsible, to an extent, for the escalating healthcare costs.

According to a report by Thomson Reuters on US healthcare spending, the US healthcare system wastes between $505 billion and $850 billion every year, out of which the waste caused due to Fraud and abuse constitutes $200 billion, or 22% of healthcare waste every year.

The following chart shows the percentage of waste caused due to different parameters in the US healthcare spending.

Source: Healthcare analytics, Thomson Reuters

What is healthcare fraud and abuse?

Health care fraud is a criminal act in which a consumer or physician(s) deliberately misrepresents facts or information, for the purpose of undeserved or greater reimbursement. Health care abuse is a reckless disregard or conduct that goes against and is inconsistent with acceptable business and/or medical practices resulting in greater reimbursement.

How to prevent it?

Health care fraud and abuse has played such a vital role in increasing the cost of health care and has become a pertinent issue for the government as well as the general public. The question is how to prevent it?

Both Consumers and physicians have to be alert to the possibility of fraud and abuse and work to prevent it. Consumers need to get involved with their health care beyond the point of going to the doctor and taking medication. They need to be educated on their insurance plan, how much they pay, the proper names of their ailments, and they need to keep track of the services they receive and why they receive them. Simple tips that may help prevent fraud and abuse include:

“Review Explanation of Benefits to ensure accurate dates of service, name of providers, and types of services reported
“Protect insurance card and personal information at all times
“Count pills each time they pick up a prescription
“Research providers with state’s medical boards
“Report suspected fraud and abuse as soon as possible

Along with consumers, physicians too must check for any unintentional fraud and abuse happening around them. They can have training and awareness amongst their staff to prevent unintentional fraud. These joint efforts would definitely check the fraud and abuse rate in the United States and ultimately bring down the overall cost of healthcare.

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Rising E-health Services Boosting Us Healthcare It Market

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US healthcare IT market is witnessing significant growth from the past few years. The market is propelling on the back of rising number of E-health services in the country. The use of E-health services is increasing due to rising penetration of internet and broadband in the country. Further, the E-health market is performing on the back of rising adoption of market components, such as EHRs/EMRs, health information exchanges (HIE) and e-Prescription. In addition, the government is also talking various initiatives to develop the E – health market in the country. Besides, the e health market will continue to grow in the coming years due to rising health concerns and increasing awareness among population. Therefore, considering the above factors, it is projected that the US E-healthcare market will grow at a CAGR of around 11% during the forecast period 2013-2017.

According to our research report, US Healthcare IT Market Outlook to 2017, the market is growing tremendously on the back of technology advancements and strong government support. Rising opportunities in remote patient monitoring and medical imaging information system are also propelling its growth. Our report provides the detailed analysis of healthcare IT market performance including its segment such as healthcare IT hardware, healthcare IT software and healthcare IT services.

In addition, it also covers the study of components of the market including M-health, remote patient monitoring and medical imaging information system. It also provides the thorough analysis of emerging trends that are boosting the healthcare IT market in the country. Further, the report also includes analysis of potential growth areas of the market along with regulatory framework.

Our report, US Healthcare IT Market Outlook to 2017, offers the detailed analysis of key market players that will help the client to have an understanding of the competitors in the Industry. Additionally, we have also covered the key developments of these players in the country. Overall, the report presents a comprehensive look at the sectors past, present, and future scenario.

For FREE SAMPLE of this report visit:

Some of our Related Reports are:

– In-Vitro Diagnostics Market Analysis to 2017 ()
– US Telelaparoscopy Opportunity Analysis ()
– US Proton Therapy Market Analysis to 2017 ()
– US Personalized Cancer Genome Sequencing Market ()
– Brazil Healthcare – New Opportunities for Growth ()

Check Related REPORTS on:

About RNCOS

RNCOS specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals analyze the industry and its various components, with a comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the intending consultants in meeting their objectives in a cost-effective and timely manner.

Healthcare Industry China Animal Feed Industry Research Report

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Animal products such as meat, milk and eggs are an expensive source of food as compared to stable crops. Due to this, the consumption of animal protein in the developing nations is well below the world average. However, the transition in the economies of these countries has lead to growth in disposable income, purchasing power and the consequential rise in demand for animal protein. Food consumption level is now considered a clear indicator of the size of a country’s population and the health of its economy. China is by far the best example to highlight the validity of this point.

China continues to develop and is rapidly becoming a stronger economy. The sophistication and rising standard of living of the population has resulted in a change in dietary patterns. China is the world’s largest consumer of meat and is nearly self sufficient in meeting its requirements. Livestock production has been growing faster than any other agricultural sub-sector in China in recent decades, mainly due to the substantial growth of pig and poultry industries. To support its large number of livestock, the country requires animal feed in quantity and quality. This is the most important reason behind the growth of the animal feed industry in China.

The 6 broad categories of animal species for which feed is specifically manufactured in China are pig, boiler poultry, layer poultry, aquatic animals, ruminant and feed for other animals such as horses and pets. Since China is the largest market in the world for pork, pig feed is the major segment within animal feed in the country. Furthermore, the consumption of chicken is increasing rapidly, thereby amplifying demand for boiler poultry. However, feed for aquatic species is the fastest growing segment owing to the booming aquaculture sector in China.

-Due to the development of China’s economy, the population is increasingly being able to afford animal protein and is constantly adding the same to their diets. Subsequently, animal feed is required both in quantity and in quality to support the livestock in the country.– according to the research report -China Animal Feed Industry Review to 2018- Thriving Aquaculture Sector to Accelerate Growth’ by Ken Research

The report provides detailed overview on compound feed, concentrate feed and premixes and additives, in addition to feed for specific animal species in China and helps readers in identifying the ongoing trends in the key segments of the industry and anticipated growth in future depending upon changing industry dynamics in coming years. The report will aid industry consultants, animal feed companies, marketing companies and other stakeholders to align their market centric strategies according to ongoing and expected trends in future.

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Contact Person: Ankur Gupta
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Healthcare Staffing Agency Excellent Business In Present Scenario

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Healthcare staffing agency offers invaluable service to the healthcare centers and hospitals. Healthcare professionals can have a rewarding career if they get attached to these agencies. Nowadays, there is shortage of medical staff of all level in the hospitals and so demand for professionals is increasing. If you are a professional with business knowledge and skill, you can plan and start a healthcare staffing agency. All you have to do is arrange for medical professionals and place the candidates in right places.

However, it is not so simple as it looks but this business is quite challenging and rewarding as well. You have to choose the candidates according to their knowledge, education, training and experience and place them in hospitals and other healthcare centers where they are needed. You must consider the goals and objectives of the healthcare centers and at the same time satisfy the demands of the candidates also. Keep the records of all medical professionals that you have placed.

Once your healthcare staffing agency is established, you have to earn the name and the best way to do is to provide eligible and good candidates so that your clients are happy and refer the name of your agency to others. Always monitor your candidate even after the placement is done. You also have to take care that the candidate is taken care of and his requirements are fulfilled as well. Consider the rules and regulations set for the staffing agencies because some of the hospitals hire the service only when the healthcare staffing agency is licensed or registered.

Healthcare staffing agencies have to work on both the sides. The main function of healthcare staffing agencies is to satisfy the management of the healthcare center where they have provided their staff. These agencies need software designs that help them analyze the candidates in a better way and also helps them do the day-to-day medical staffing properly. There needs to be efficient staff and professional in the agencies so that the medical staffing is done properly on daily basis. These agencies save a lot of money of the hospitals also.

Reform Means Planning for Healthcare System Wellness

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Wellness is not simply an absence of illness, it is an active process of becoming aware, planning for, and carrying out healthy choices that bring about positive change.

Understanding and maintaining wellness is critical in every one of our lives – and in the lives of the people we serve who are recovering from mental illnesses and substance use disorders.

As members of the behavioral health community, we must engage in the active process of becoming aware, planning for, and carrying on the hard work of healthcare system reform. This kind of healthcare system wellness is our responsibility. Federal healthcare reform legislation is a big step in the right direction. However, maintaining wellness is an ongoing process. In considering the wellness of our healthcare system there are several dimensions we as providers and consumers of healthcare services should be attending to. These dimensions of healthcare system wellness include funding, health information technology, service provision, quality improvement and research. Some examples of the planning and activities we can take part in.

Funding

– Reform the payment system to stop the promotion of paying for procedures and replacing it with payment based on the quality care.

– Aggressive reform of billing practices that stymie providers from making the necessary changes to create seamless healthcare services. Including funding for coordination of care, case management, transportation and allowing providers in every state to bill for more than one service in a day in the same clinic.

Health Information Technology

– The development of patient registries for the uniform collection of clinical and administrative data. Registries will allow for better monitoring and continuity of care while helping to make the business case for behavioral and primary care services integration

– Making sure that our electronic health records are compliant with Health Level Seven (HL7) international interoperability standards. Required by the US Department of Health and Human Services, these standards will enable electronic medical records to exchange, manage and share information between providers.

Service Provision

– Adoption of the healthcare home approach to care. This approach requires a bi-directional care provision which challenges the traditional thinking about how providers work with one another. Specialty mental health and primary care providers must reach out to one another and work in a coordinated fashion to provide disease management services for people with severe mental illness and/or substance use conditions.

– The implementation of wellness programming as a Medical Home standard of care for all people diagnosed with a severe mental illness and/or substance use condition.

– The expansion of peer-led wellness programming as an effective way to promote healthy living and care coordination.