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Enormous Expenditures. Total US health care expenditures for 2014 were $3.031 trillion, increasing 5.3%, significantly more than 2013’s increase of 2.9% and 2012’s 3.8%. Personal expenditures were 84.6% of the total, or $2.564 trillion.
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Enormous Expenditures • Total US health care expenditures for 2014 were $3.031 trillion, increasing 5.3%, significantly more than 2013’s increase of 2.9% and 2012’s 3.8%. Personal expenditures were 84.6% of the total, or $2.564 trillion. • Major expansion of the Affordable Care Act, specifically Medicaid and private health insurance, and a 12.2% increase in retail prescription drug expenditures were primary drivers of the increase. • The top 5 categories where health care dollars were spent during 2014 were hospital care, $971.8 billion; physician and clinical services, $603.7 billion; prescription drugs, $297.7 billion; nursing care facilities, $155.6 billion; and other health care, $150.4 billion.
The Care Givers • As of January 2016, there were 432,726 primary care physicians in the US: Internal Medicine, 177,779; Family Medicine/General Practice, 126,865; Pediatrics, 78,233; Obstetrics & Gynecology, 48,610; and Geriatrics, 1,239. • A total of 3,966,939 nurses were professionally active during January 2016. There were 3,193,954 female nurses, 330,097 male nurses and 442,888 unspecified. • Of the 4,226 hospitals in the US during 2014, 20.4% were owned by states or local governments; 58.3% by non-profit organizations; and 21.4% by for-profit companies.
Health Insurance Insights • The big news in the industry is Anthem’s pending purchase of Cigna for $48 billion and Aetna’s purchase of Humana for $35 billion. If approved and completed, there would be just three US health insurance providers, with United Health Care as the third. • Just 10.4% of the population, or 33.0 million of Americans, were without health insurance during 2014, a 2.9% decrease from 2013. • Private health insurance coverage increased 1.8% to 66% and government coverage increased 2.0% to 36.5% during 2014. Direct purchase increased 3.2% to 14.6% and Medicaid increased 2.0% to 19.5%.
Insuring Working Men and Women and Their Families • For the year ending June 2015, the average premiums for individuals and families increased just 4%, with the average annual premium for an individual at $6,251 and for a family, $17,545. • During 2015, 57% of all firms offered health insurance coverage to some employees, compared to 55% for 2013. For companies with 3 to 49 workers, 54% offered coverage, and 97% at companies with 100 or more workers. • According to the 2015 HRI consumer survey, consumers were more pleased with the payment and billing processes at pharmacies than hospitals and insurers. More than 90% considered pharmacies more convenient, affordable, reliable and seamless.
Health Care Consumers’ Perspectives • With the increasing deductibles and co-pays to visit a primary care physician, 67% of consumers would choose alternative health care providers, such as pharmacies and retail clinics. The percentage has doubled to 20% from 2013 to 2015. • According to the 2015 Consumer Health Insights Survey, 82% of respondents said they had a regular primary care physician; however, it was much lower for adults, 18–34, at 65%, compared to 96% for those older than 65. • In the 2015 HRI consumer survey, patients, Millennials and affluent consumers all listed “know what care will cost ahead of time” as their top choice of what they expect from hospitals, pharmacies and their insurers.
Tech Innovations in Health Care • Many new technologies still in their infancy already have a profound effect on health care. 3D printing is creating much better prosthetic limbs. Scan a patient’s existing leg, reverse the image and print an exact duplicate. • Multiple applications are in development or in use and interconnected through the Internet of Things (IoT). During 2015, most IoT apps were being created for smart homes; however, within 3 to 5 years, health care will be the top industry for IoT apps. • From 2013 to 2015, the percentage of consumers with at least one medical, health or fitness app on their mobile devices doubled from 16% to 32%.
Advertising Strategies • With the large percentage of the population 65 and older, hospitals, physicians, medical specialists, assisted-living facilities and various other health care services will reach the greatest number on TV, as they are also the largest viewing audience by age. • Encourage hospitals to use patient testimonials on TV, highlighting the use of advanced technologies and devices, such as 3D printing, to save lives and improve quality of life. • Television is also the best advertising medium for state and private health insurance exchanges to reach those without insurance with plan options that the Affordable Care Act has made possible.
Social Media Strategies • Physicians, clinics and hospitals can gain an advantage with the proactive use of social media to answer consumers’ health questions. Social media posts should regularly invite questions, with in a blog, social media posts or the use of live streaming apps. • Polls and surveys typically generate good engagement on social media. Health care professionals can conduct them periodically asking questions that help to educate their social media audience, sharing the results in posts and elaborating on the results in a blog. • Ask people to share photos and videos of the behavioral changes they have made that have improved their health (weight loss, lower cholesterol, etc.). These could include exercise videos, photos of meal preparation and portions, etc.
