Here's The Latest in Health Care:
• Hospitals and other corporate entities now own about half of all U.S. physician practices. However, the acquisition of independent physician practices by hospitals, a trend that has accelerated rapidly in recent years, is actually linked to a modest drop in doctor compensation according to a recent report. These findings contrast with evidence that hospital systems' profits tend to increase as prices and spending rise after the integration of physician practices. Read More
• Roughly 40% of U.S. healthcare payments were tied to alternative payment models (APMs) last year, with Medicare Advantage claims representing the largest amount. According to researchers, the survey shows limited progress in moving away from fee for service between 2019 and 2020. Read More
• HHS is now distributing $9 billion in payments to healthcare providers affected by the COVID-19 pandemic. The funds will be split among more than 69,000 healthcare providers with the average payment for small providers being $58,000, while the average payment to large providers is $1.7 million. Read More
• The COVID-19 pandemic had a dramatic impact on U.S. healthcare spending in 2020, according to a report recently released by the CMS Office of the Actuary. The report found that U.S. healthcare spending increased by 9.7 percent last year to $4.1 trillion, which breaks down to roughly $12,530 per person. As a result of the sharp increase, healthcare’s share of gross domestic product (GDP) experienced a historic increase from 17.6 percent in 2019 to 19.7 percent in 2020. Read More
Every other Friday, Signor Goat reports the latest from the week in health care. Check back next Friday for your dose of our little medical corner of health care news. Brought to you by pMD, innovators in charge capture, medical billing, revenue cycle management, telehealth, secure messaging, clinical communication, and care navigation software.