Massachusetts lawmakers passed a pioneering bill yesterday that will not let the rate of healthcare spending exceed that of the state economy through 2017, according to a New York Times report.
From 2017 through 2022, any increase in healthcare costs would need to be half a percentage point lower than the increase in the state's gross domestic product. Lawmakers estimate the bill could save up to $200 billion in healthcare spending over the next 15 years.
Under the bill, a newly-created commission would monitor healthcare spending and review healthcare providers that fail to meet spending limits. Insurers would also need to put a combined $60 million over the next four years toward prevention efforts and initiatives encouraging accountable care organizations.
Gov. Deval Patrick (D) is expected to sign the compromise bill, which the House and Senate agreed upon yesterday after both passed different versions earlier this summer.
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From 2017 through 2022, any increase in healthcare costs would need to be half a percentage point lower than the increase in the state's gross domestic product. Lawmakers estimate the bill could save up to $200 billion in healthcare spending over the next 15 years.
Under the bill, a newly-created commission would monitor healthcare spending and review healthcare providers that fail to meet spending limits. Insurers would also need to put a combined $60 million over the next four years toward prevention efforts and initiatives encouraging accountable care organizations.
Gov. Deval Patrick (D) is expected to sign the compromise bill, which the House and Senate agreed upon yesterday after both passed different versions earlier this summer.
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