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May 11, 2009

Coalition Pledges to Help Slow Growth of Healthcare Spending
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A group of doctors, hospitals, drug makers and insurance companies are
pledging to help slow the explosive growth of healthcare spending over
the next decade. The voluntary pledge doesn’t aim at cutting healthcare
spending overall, but merely restraining its rate of growth. In a letter
to President Obama, the healthcare providers said they would reduce
costs by simplifying administrative costs, making hospitals more
efficient, reducing hospitalizations, managing chronic illnesses more
effectively, and improving healthcare information technology. The
voluntary cuts are being offered in an effort to stave off new
government price constraints that might be imposed by Congress.
According to the White House, the plan could save $2 trillion over the
next decade. The trade groups making the pledge include the American
Medical Association, the Pharmaceutical Research and Manufacturers of
America, the American Hospital Association, America’s Health Insurance
Plans, and the Service Employees International Union.



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