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Posted on 4/29/2010 - Health Care Debate: Long Term Insurance Overhaul...
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Posted on 7/29/2009
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- Gift tax annual exclusion to remain unchanged in 2010. Contact us to see how this factors into your estate plan
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How To Avoid Wasteful Spending On Health Care
Posted on Apr 29, 2010
If we are aware of it or not, we often are our worst enemy when it comes to wasteful spending, particular on matters of health care.
The new research, part of the 2009 Drug Trend Report produced by Express Scripts, identifies five behavioral profiles that contribute to wasteful spending in health care:
The Active Decliner: the patient who says she feels fine most of the time and questions whether taking her medication is really necessary.
The Refill Procrastinator: the patient who gets distracted, runs out of time and fails to refill his prescription before the medicine runs out.
The Sporadic Forgetter: the patient who remembers to take her medications during the week, but gets off schedule on the weekends and simply forgets.
The Loyalist: the patient who uses brand-name medications because that's what the doctor first prescribed. He is slow to ask his doctor about changing to a lower-cost generic drug.
The Traditionalist: the patient who routinely goes to the store for other items and enjoys the personal contact, but has never made a deliberate decision about whether to switch to Home Delivery (i.e., mail order) for her medications.
According to the report, three simple behaviors can help achieve savings:
Adhering to the prescribed drug therapy (thereby avoiding the medical expenses associated with non-adherence).
Choosing the more cost-effective drug, including lower-cost brand and generic alternatives, when appropriate for the therapy.
Finally, identifying the most appropriate channel for delivery of the drug to the patient (mail order, for example) can save $6 billion a year.
Read More About How To Avoid Wasteful Spending On Health Care...
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Elder Law Offices of Shields and Boris
109 VIP Drive
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Wexford, PA 15090
Phone: (724) 934-5044
Toll Free: (800) 879-0984
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Elder Law Offices of Shields and Boris
109 VIP Drive
Suite 102
Wexford, PA 15090
Phone: (724) 934-5044
Toll Free: (800) 879-0984
Get Directions
