By Claire Thayer, September 9, 2015
In 2014, the U.S. health care system spent close to $1 trillion on health care, with half of this paid to hospitals, a third toward physicians and clinical services and the remainder on prescription drug spending. Over the next 10 years, CMS projects that health spending will continue its steady upward pace and grow at an average rate of close to 5.8% per year. While perhaps not surprising, examining the validity of claims is proving to be an enormous undertaking, with a recent GAO Report on the Medicare Program estimating that $60 billion (close to 10%) of total Medicare claims paid in 2014 was paid improperly. These and a few other provider billing and payment facts are highlighted MCOL’s infoGraphoid this week:
MCOL’s weekly infoGraphoid is a benefit for MCOL Basic members and released each Wednesday as part of the MCOL Daily Factoid e-newsletter distribution service – find out more here.