Health spending is one of the biggest financial issues the U.S. faces, with critical implications for families, businesses and government budgets.
To ensure citizens receive greater value from health spending and gain a better understanding of what is driving health care costs, UnitedHealthcare has become a contributor to the Health Care Cost Institute (HCCI). HCCI is a new non-profit research institute that promotes independent research and analysis on the causes of rising U.S. health spending.
HCCI reports are based on the largest, most comprehensive collection of private-sector health insurance claims ever assembled more than 5 billion claims from the nation?s largest health insurers. Reports based on this data will provide a timelier and more complete picture of health care spending in the private sector than currently available data sources. Claims information provided to HCCI is compliant with the Health Insurance Portability and Accountability Act (HIPAA) and meets all privacy requirements.
The institute issued its inaugural report on May 21. The report found that health care costs for privately insured Americans rose higher than the rate of inflation in 2010, and that overall health care spending rose over the previous year even though fewer people used medical care in many categories.
By participating in HCCI, UnitedHealth Group and UnitedHealthcare are playing key roles in helping understand the causes of increased medical costs so that innovative solutions can be developed to mitigate them.