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Waste in the U.S. Healthcare System Pegged at $700 Billion in Report From Thomson Reuters

Monday, October 26, 2009 General News J E 4
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ANN ARBOR, Mich., Oct. 26 The U.S. healthcare system wastes between $600 billion and $850 billion annually, according to a white paper published today by Thomson Reuters.

The report identifies the most significant drivers of wasteful spending -- including administrative inefficiency, unnecessary treatment, medical errors, and fraud -- and quantifies their cost. It is based on a review of published research and analyses of proprietary healthcare data.

"The bad news is that an estimated $700 billion is wasted annually. That's one-third of the nation's healthcare bill," said Robert Kelley, vice president of healthcare analytics at Thomson Reuters and author of the white paper. "The good news is that by attacking waste, healthcare costs can be reduced without adversely affecting the quality of care or access to care.

"That's the point of this report -- to identify areas in the healthcare system that can generate game-changing savings," Kelley said.

Here are some of the study's key findings:

About Thomson Reuters

Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, healthcare and science and media markets, powered by the world's most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs more than 50,000 people and operates in over 100 countries. Thomson Reuters shares are listed on the Toronto Stock Exchange (TSX: TRI) and New York Stock Exchange (NYSE: TRI). For more information, go to www.thomsonreuters.com

-- Unnecessary Care (40% of healthcare waste): Unwarranted treatment, such as the over-use of antibiotics and the use of diagnostic lab tests to protect against malpractice exposure, accounts for $250 billion to $325 billion in annual healthcare spending.

SOURCE Thomson Reuters
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