The increasing cost of healthcare is one of the biggest issues facing Americans - one that has indirectly led to the recent government shutdown, according to an article on the Digital Journal website. American University Professor Peter Chinloy says by making more efficient use of healthcare facilities through variable rates and using the facility during off-peak periods, costs can be reduced.
The growing number of surgical procedures not requiring an overnight stay and the fact that most costs are fixed in the highly capital-intensive healthcare system makes these options more attractive.
Many medical facilities are set up so that they are only open during normal business hours. Expensive equipment and buildings go unused for long periods of time. Those periods could be filled by patients and the incentive for patients to use those facilities would be lower expenses.
Getting doctors to work these odd hours is the challenge, the article said.
Chinloy suggested healthcare charges have separate components for provider and facility fees. Provider fees could increase even while facility charges fell. The system could attract younger doctors with high student debt and used to working long hours as medical residents. Patients could be offered lower copayments and deductibles, and even a lower bottom-line charge to avoid sending a claim to an insurer.
Read the article.
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