Non-profit Health Insurance, mmmmmmm
Establishing health insurance providers as non-profit entities is an interesting concept in today’s healthcare system. What would happen if the multitude of health insurance companies switched status from for profit to a non-profit status? Putting away multi-million dollar compensation packages for industry executives and replacing them with premium dividends and improved coverage for members, could it really happen? Bringing CEO salaries down to match the rest of the world and increasing hospital and provider reimbursement rates, could that happen? Making the business of healthcare a little less business like and a little more patient focused, do we dare?
Rising costs associated with healthcare are the driving forces for many other issues that hospitals, providers, and patients face daily in obtaining the care they need. Insurance premiums are expensive for everyone – employees, employers, and families. Millions can’t even afford insurance. Reimbursement rates for hospitals and healthcare providers continue to be reduced and this fall some complications of care which increase hospitalization costs will not be reimbursed at all by both federal and private insurance companies. The end result is a continuing financial squeeze for healthcare organizations.
Industry leaders speak of high quality accessible healthcare. Concepts of organizational transparency and provider rating statistics are used to demonstrate quality so that healthcare consumers can make better choices. In an attempt to force hospitals to improve their care insurance companies have come out with the never lists – a list of iatrogenic complications of care that increase hospitalization costs for patients that insurers will not pay for anymore.
Clearly most hospitals are doing everything they can to mitigate errors, and preventable harm to patients. From an outsider’s perspective this may seem quite simple but the reality is that not all complications of care are easily avoidable. To really improve the quality of care across the country hospitals and providers need to have higher reimbursement rates. Improved reimbursements will enable better staffing, improved programs for care, and the acquisition of medical technology to facilitate care. Could reorganizing health insurance companies to a non-profit status as a way of cost reduction improve our care? What are your thoughts?
About the Author
Mike Pringle is the author of Healthcare Today where he offers commentary and insight regarding today’s healthcare issues. Additionally he provides regular commentary for Red Scrubs and editorial content for Future Healthcare. He has over 20 years of nursing experience working both domestically and internationally. Mike has a Bachelor’s Degree in Nursing and a Masters Degree in Public Administration with a Healthcare emphasis. He specializes in both Emergency and Critical Care Nursing. He currently works at Falmouth Hospital as a Shift Manager for the emergency department.
