There’s a lot of hubbub about healthcare right now, which, for the sake of my readers and sanity, I will not get into right now. What I will discuss, though, is the trends in the healthcare market to watch. These are the things that will determine what happens to healthcare, no matter who wins the election and what policies are put in place.
First of all, when one is in need of a procedure or medicine, that can prove costly. So they often search around for the most affordable place, whether it’s the local Safeway pharmacy or the doctor’s office. Some companies are offering to pay a certain amount for various services, while their employees can cover the remainder if they opt for a more expensive service. When people can pick the places they go for the services they use, it can put an emphasis on quality and affordability, thus tilting the market in that direction.
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Similarly, there are CDHPs: Consumer-Driven Health Care Plans. These are plans with high deductibles, a fast-growing form of health coverage. Many companies are offering CDHPs as benefits for their employees, with an emphasis on price and quality.
Lastly, there is the globalization of the economy to be taken into account. Employers are beginning to offer employees the option to travel not only in the US, but even abroad for certain complex procedures, such as transplants or surgery, so that they can receive help from the best professionals.
However, these tend to be applicable only to those whose companies provide insurance benefits. Not everyone has coverage, even if they’re employed, but for those who are, these are important trends that will be affecting them and the market.
There is still a lot in healthcare that needs fixing (although exactly what needs fixing varies in opinion depending on one’s political and economic standings, so we won’t discuss that), but these are key factors that will be influencing the market. Employers should pay close attention to these, as well as the healthcare policies of their company, when planning for the future.
Edited by Rich Steeves