The Triple Aim
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 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.
MiHIA COST OF CARE MACRO GOAL:
Cost of Care inflation trend for the MiHIA region will not exceed the Consumer Price Index (CPI)
Payer |
2014 (Yr 3) |
2015 (Yr 4) |
2016 (Yr 5) |
2017 (Yr 6) |
|---|---|---|---|---|
|
MiHIA Region |
3.8% increase |
4.57% increase |
7.72% increase |
1.85% decrease |
|
State of Michigan |
7.3% increase |
4.0% increase |
4.94% increase |
5.0% increase |
|
CPI |
1.6% increase |
0.7% increase |
2.1% increase |
2.1% increase |
|
Medical care commodities CPI unadjusted for 12-months |
2.4% |
1.5% |
4.5% |
2.3% |
STATUS: While we achieved the Macro Metric goal for 2017, based on past trends MiHIA is remaining vigilant in addressing overall cost of care for our region
MiHIA Per Capita Cost Trends By Payer Mix Comparison from 2016 to 2017:
- The MiHIA region payment per capita remained stable compared to year 2016
- Consumer Price Index (CPI) rose 2.1% in 2017, the same as last year’s observed rise
- Decreases were observed in Employer and Paid Coverage & Individual Market payments
- Medicare is the highest (35% greater than the next) in terms of per capita spending over the Uninsured, Medicaid, and Employer Paid/Individual Market populations respectively
COST OF CARE REPORTS
2017 Executive Summary
2018 Executive Summary
