Total Cost of Care: Health care costs by the numbers
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When building health plan strategies, it can pay to look deeper than network discounts to help lower the total cost of care.
Health care spending is rising at a rate of about 6% year over year since 20151 with the top 3 health care cost drivers being high-cost claims, specialty pharmacy costs and specific diseases. Looking closer at the rise in health care spending, 25% of health care spending is wasteful2 and stems from overtreatment or delivery of low-value care.
Upfront costs are just the tip of the iceberg. Our Total Cost of Care approach may uncover hidden cost savings below the surface. Working with employers, UnitedHealthcare customizes a full suite of design, clinical and engagement strategies built to help them take advantage of cost-saving opportunities inside their organization and across their workforce.
Savings can increase by looking beneath the surface and using a Total Cost of Care approach to evaluate all costs. See how this approach can help build a health plan with purpose.
To find out more, download our Total Cost of Care infographic.
- PwC Health Research Institute medical cost trends 2007-2020. June 2019. Available: https://www.pwc.com/us/en/industries/health-industries/assets/pwc-hri-behind-the-numbers-2020.pdf.
- William H. Shrank, MD, MSHS; Teresa L. Rogstad, MPH; Natasha Parekh, MD, MS. “Waste in the US Health Care System: Estimated Costs and Potential for Savings.” JAMA. 2019;322(15):1501-1509.