NEW YORK, June 13, 2017 /PRNewswire/ -- PwC's Health Research Institute (HRI) predicts that the era of volatile swings
"Yesterday's strategy of encouraging lower utilization through increased cost-sharing with consumers has run its course," said Kelly Barnes, U.S. Health Industries and Global Health Industries Consulting Leader, PwC. "For medical cost trend to slow further, industry leaders will need to look at new strategies that focus on bringing health prices down."
PwC's Health Research Institute has identified five major factors expected to impact medical cost trend in the coming year:
Like its predecessors, this year's Behind the Numbers report draws upon findings from PwC's 2017 Health and Well-being Touchstone Survey of more than 780 employers from 37 industries, one of the most thorough studies available on benefit plans offered by U.S.-based employers. Key findings include:
For its research, HRI interviewed industry executives, health policy experts and health plan actuaries whose companies cover more than 100 million employer-sponsored members. PwC's national consumer survey of 1,500 U.S. adults is also included. The report does not cover government-sponsored or nongroup insurance.
For the full report and graphics illustrating the key findings, visit www.pwc.com/us/MedicalCostTrends.
For the full report of the 2017 PwC Health and Well-being Touchstone Survey, visit www.pwc.com/us/touchstone2017.
About PwC's Health Research Institute (HRI) PwC's Health Research Institute (www.pwc.com/hri) provides new intelligence, perspectives and analysis on trends affecting all health-related industries. The Health Research Institute helps executive decision makers navigate change through primary research and collaborative exchange. Its views are shaped by a network of professionals with executive and day-to-day experience in the health industry. HRI research is independent and not sponsored by businesses, government or other institutions.
About PwC's Health Industries Group PwC's Health Industries Group (www.pwc.com/us/healthindustries) is a leading advisor to public and private organizations across the health industries, including healthcare providers, pharmaceuticals, health and life sciences, payers, employers, academic institutions and non-health organizations with significant presence in the health market. Follow PwC Health Industries at @PwCHealth.
About PwC US At PwC US, our purpose is to build trust in society and solve important problems. We're a network of firms in 157 countries with more than 223,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com/US.
© 2017 PwC. All rights reserved. PwC refers to the US member firm or one of its subsidiaries or affiliates, and may sometimes refer to the PwC network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details.
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/medical-cost-trend-settles-into-a-new-normal-of-single-digit-growth-according-to-pwcs-health-research-institute-300472700.html
SOURCE PwC US
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