COST OF CARE
MiHIA’s annual Cost of Care report was established to provide a system of measuring cost trends in the region by way of analyzing and presenting a high level assessment using the best data available which can be used as a tool to estimate the impact of the regional efforts going forward.
Health care payments for the MiHIA service area (primarily the 14 mid-Michigan counties) have been determined by MiHIA’s Cost Measurement Group and broken down into cost of care per population segment (i.e. through Employers, Medicare, Medicaid, or for the Uninsured population in the area). Data comes from the Dartmouth Atlas Medicare data for the Saginaw Hospital Referral region (which represents about 88% of the MiHIA population, and 11 of the 14 counties); Michigan Department of Community Health, and local health insurers in the region (i.e. Aetna, Blue Cross, HealthPlus of Michigan.)
WHAT IS COST OF CARE?
Cost of Care is comprised of cost of care per population segment, as indicated by the medical care costs, including but not limited to prescription drugs and medical supplies, physicians’ services, eyeglasses and eye care, and hospital services.
MiHIA’s Quadruple Aim Cost of Care strategic goal is that the Cost of Care inflation trend for the MiHIA region will not exceed the Consumer Price Index (CPI).
WHAT IMPACTS COST OF CARE?
- Wasteful healthcare spending including redundant, inappropriate,
or unnecessary tests.
- Increase cost in Prescription drugs
- Increase in obesity and chronic health conditions
- Consolidation of service providers
- An aging population, which will increase the cost of Medicare, Medicaid, and health care, and require increased levels of care,
WHY DOES COST OF CARE MATTER?
High value, efficient and effective health and health systems across the region lead to:
- Increased appeal for business growth
- Decreased health care burden on employers, state and local budgets, and individuals
- Improved quality of life for citizens
- Healthier and more productive communities
- Enhanced ability for health systems and providers to meet tough health reform challenges for improved quality and cost containment/cost reduction
- Supporting the community to control healthcare costs for the region
- Reduction of accidents and work-related ill health in companies with good health among workers
- Lower absenteeism
MiHIA’s Health Dashboard 4.0
the visual analysis tool that helps people in the 14-county region it serves to make healthy decisions quickly, monitor their region’s performance and practice sharing development. MiHIA’s Health Dashboard 4.0 is powered by Health Communities Institute (HCI), which provides high-quality community health assessment data and health indicator tracking. With the help of the Dashboard, MiHIA aims to improve the overall health status and quality of life for communities throughout Great Lakes bay region.