Nightly Business Report — June 24, 2013

Tonight on Nightly Business Report, China sends a jolt through already jittery global markets. So why does this country matter so much to your money?
And, how much will your company pay if you need an MRI or a hip replacement? That may be the key question to ask as companies look to cap the cost of care.

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  1. James Gang says:

    Here is the latest news: Details of Price Reductions

    Following the change, the average price for the knee and hip replacements at higher-priced hospitals in the state decreased by 37%, from $43,308 in 2010 to $27,149 in 2012. Such reductions at state hospitals accounted for about 85% of $5.5 million in savings for CalPERS, according to UC-Berkeley researchers.

    The remaining savings came from beneficiaries selecting lower-cost hospitals, where costs for the two procedures decreased by about 3% from 2010 to 2012, the researchers said.

    In addition, the use of preferred hospitals among CalPERS members increased by 21% between 2010 and 2012.

    Meanwhile, HealthCore — WellPoint’s research division — found that CalPERS beneficiaries enrolled in Anthem plans had similar or better health outcomes than Anthem members who were not enrolled in the pension fund during that time period.

    CalPERS said that it likely will consider expanding the strategy for other medical procedures (Terhune, “Money & Co.,” Los Angeles Times, 6/23).

    Read more: http://www.californiahealthline.org/articles/2013/6/24/hospitals-lowered-surgery-costs-after-calpers-capped-payments.aspx#ixzz2XF1PEU00

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