Comments on: Health Insurance Premiums And The Public Option http://www.healthinsurancecolorado.net/blog1/2009/11/03/health-insurance-premiums-and-the-public-option/ Research and discussion of the Colorado health insurance industry and the healthcare crisis in America. Sat, 20 Mar 2010 01:19:45 +0000 http://wordpress.org/?v=abc hourly 1 By: Turbo http://www.healthinsurancecolorado.net/blog1/2009/11/03/health-insurance-premiums-and-the-public-option/comment-page-1/#comment-14157 Turbo Fri, 13 Nov 2009 00:13:38 +0000 http://www.healthinsurancecolorado.net/blog1/?p=1414#comment-14157 Working at a doctors office (Family Practice) we deal with Medicare all the time. They are essentially a public option. Our profit margin from Medicare is similar to those from private insurance companies even though Medicare pays 20 to 40% less then the private insurers. The reason for similar profit margin is the low overhead associated with Medicare. They do not require referrals, authorizations, etc. Our nurses spend 40% of there day working on referrals and authorizations. Nurses are our single biggest expense past doctor's wages. Thats why we would be willing to accept lower reimbursement rates if the proposed public option is run similar to Medicare. Working at a doctors office (Family Practice) we deal with Medicare all the time. They are essentially a public option. Our profit margin from Medicare is similar to those from private insurance companies even though Medicare pays 20 to 40% less then the private insurers. The reason for similar profit margin is the low overhead associated with Medicare. They do not require referrals, authorizations, etc. Our nurses spend 40% of there day working on referrals and authorizations. Nurses are our single biggest expense past doctor’s wages. Thats why we would be willing to accept lower reimbursement rates if the proposed public option is run similar to Medicare.

]]> By: Louise http://www.healthinsurancecolorado.net/blog1/2009/11/03/health-insurance-premiums-and-the-public-option/comment-page-1/#comment-14145 Louise Wed, 04 Nov 2009 18:02:56 +0000 http://www.healthinsurancecolorado.net/blog1/?p=1414#comment-14145 David, I think that's a possibility in an ideal world, but I'm not holding my breath either. The AMA and other hospital/physician lobby groups aren't going to quietly accept lower payments for services. One area where I think we do have room to negotiate is with the pharmaceutical industry, which has been enjoying double digit profits (as a percentage of revenue) over the last several years. So I'm curious to see what prescription coverage (if any) would be contained in the public option. David, I think that’s a possibility in an ideal world, but I’m not holding my breath either. The AMA and other hospital/physician lobby groups aren’t going to quietly accept lower payments for services. One area where I think we do have room to negotiate is with the pharmaceutical industry, which has been enjoying double digit profits (as a percentage of revenue) over the last several years. So I’m curious to see what prescription coverage (if any) would be contained in the public option.

]]> By: David E. Williams of the Health Business Blog http://www.healthinsurancecolorado.net/blog1/2009/11/03/health-insurance-premiums-and-the-public-option/comment-page-1/#comment-14144 David E. Williams of the Health Business Blog Tue, 03 Nov 2009 22:58:54 +0000 http://www.healthinsurancecolorado.net/blog1/?p=1414#comment-14144 Thanks Louise. Businesses paying insurance premiums for their employees have plenty to worry about and I feel for them! It seems to me there's some chance a public option could actually help control costs for businesses by pushing down the market price of physician and hospital services, but I'm not holding my breath. Thanks Louise. Businesses paying insurance premiums for their employees have plenty to worry about and I feel for them!

It seems to me there’s some chance a public option could actually help control costs for businesses by pushing down the market price of physician and hospital services, but I’m not holding my breath.

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