Some medical teams at Salt Lake City-based Intermountain Healthcare are responsible for finding best practices for improving quality and reducing healthcare costs, according to a Reuters report.
One result of their efforts to identify best practices is the realization of the costs and health risks associated with inducing early childbirth. Now that Intermountain Healthcare has limited these births, it has saved approximately $1 million a year for families and insurers. The fewer early inductions have also reduced caesarean sections, which has saved an estimated $46 million compared with the national average in 2008.
Other healthcare entities are following suit. Seattle-based Group Health Cooperative, which coordinates health insurance and medical care, has saved costs through vertical integration. By combining physicians, hospitals and payors in a single system, the company has avoided costly fee-for-service incentives.
Read the Reuters report on best practices for reducing costs.
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One result of their efforts to identify best practices is the realization of the costs and health risks associated with inducing early childbirth. Now that Intermountain Healthcare has limited these births, it has saved approximately $1 million a year for families and insurers. The fewer early inductions have also reduced caesarean sections, which has saved an estimated $46 million compared with the national average in 2008.
Other healthcare entities are following suit. Seattle-based Group Health Cooperative, which coordinates health insurance and medical care, has saved costs through vertical integration. By combining physicians, hospitals and payors in a single system, the company has avoided costly fee-for-service incentives.
Read the Reuters report on best practices for reducing costs.
Related Articles on Healthcare Costs:
Cuts to Medicare, Medicaid Loom as Debt Ceiling Limit Nears
Study: Patient-Centered Care Lowers Healthcare Costs
New Financial Model Outlines Hospital Costs After Reimbursement Rate Changes