Humana and seniors hit hardest with Medicare Advantage plans disappearing
Written by Alyssa Clark
We have all been patiently waiting to see how the issue of private Medicare plans would do underneath the new Obamacare legislation, and it appears that the public is beginning to get some answers. More and more cuts have been applied to these “Medicare Advantage” plans, making it nearly cease to exist at all in the upcoming year. It was also recently announced that there will be another additional round of reductions in the 2015, which will inevitably force the Medicare choice for seniors to slip away because of the pressure that insurance companies are placing on them.
Researchers and analysts speculate that the reason for the Medicare slowdown is due to a severe decrease in Medicare spending, since the slack of the economy has forced programs to reduce utilization of certain available medical services. Since numbers are already trending extremely low for the upcoming year, Medicare programs recently stated that the low per capita costs will force Medicare Advantage plans to take another big hit in 2015. The private plans are receiving this news, and the public is reacting to it.
Following these projected totals, the rates that the federal government would pay these Medicare Advantage plans would change from an estimated 1.7 positive percent to a negative 2 percent decrease. This decrease being the cherry on top to the other cuts which have already been set in stone for the year of 2014, those who depend upon these Medicare Advantage plans seem to be running out of luck— and quickly at that. With these plans expecting and preparing for small increases, those patients underneath these suffering plans are beginning to look for ways out, seeing as how there doesn’t seem to be any light at the end of this tunnel for senior Medicare patients.
Most importantly, the public fears for the healthcare of much-in-need senior citizens, but this kind of change is forcing the public to consider big-picture industry ramifications as well. What does/will this mean for corporations who have invested in these Medicare plans?
Forbes reports on this issue, discussing Humana’s ties and investments in these programs and what it stands to lose as a result as it.
“Hardest hit are going to be the health plans that have made the biggest investments in Medicare Advantage. At the top of this list is Humana.”
“Humana has about 2.5 million Medicare Advantage members and 3.3 million participants in Medicare Part D drug plans. The company’s Medicare business accounts for 70 percent of its revenue. So watch the plan as a bellwether for the impacts of these policy trends.”
The government has attempted to appease the public and ratify the problem, but the “solutions” have their fair-share of shortcomings. Many Medicare Advantage plan holders have been transferred over to state-run healthcare programs, enrolling seniors in HMO’s used by similar Medicaid programs. The backlash is going to be tough to argue against, seeing as how it’s difficult to argue that state-run HMOs are better off than the private Medicare SNPs.
Schneider Electric's intelligent patient room: need to know
Schneider Electric has launched a virtual showcase that features its new "intelligent patient room". What is it exactly?
Who: Schneider Electric is a multinational that develops energy and automation solutions for many different industries - including hospitality, education, defence, and healthcare. Founded in 1836, today it is a Fortune 500 company, and it currently provides technology to 40% of hospitals around the world, among them Penn Medicine, one of the top hospitals in the US where Schneider's EcoStruxure for Healthcare is deployed, an IoT solution.
What: Schneider has launched its Innovation Experience Live Healthcare Lab, an immersive experience that takes visitors through a demonstration of a hospital, including the doctor’s office, the operating room, and the intelligent patient room.
The room features a digital patient footwall - a touchscreen that creates a single reference point for patients, families and healthcare providers, by incorporating care information, entertainment and environmental controls all in one place. A separate digital patient door display has important information for healthcare staff.
All Schneider's equipment is low-voltage, and integrated so that the patient room, clinical needs and IT are all seamlessly connected, what Schneider calls a digital “system of systems.”
Why: Mike Sanders, Customer Projects & Services in Healthcare Innovation at Schneider Electric, explains: “The hospital of the future will need to put the patient experience at the forefront, using innovative and connected systems to provide superior in-hospital care experiences.”
“With the shift to remote work and business brought forth by the pandemic, we knew that we needed to invest in a new virtual experience that showcases our vision for a truly integrated healthcare experience. We believe our intelligent patient room is the solution that our healthcare partners and customers have been looking for, and we’re excited to offer a way for them to experience it no matter where they are in the world.”
Where: The virtual experience was modelled after the new innovations installed at Penn Medicine in Philadelphia, the first real-world installation of Schneider Electric’s fully integrated intelligent patient room technology. It is currently being hosted at the company’s St. Louis Innovation Hub and Innovation Executive Briefing Center (IEBC) facility.