Report: Global Healthcare Benefit Costs Expected to Rise 9.9% in 2024

By Marissa Plescia - Healthcare costs are continuing to rise, with about three-fifths of insurers expecting increases over the next few years, a new survey revealed. However, there seems to be slight easing, with healthcare costs anticipated to increase at a slower pace in 2024 compared to 2023. Read Full Article…

VBA Article Summary

1. Global Medical Trends Survey Insights: The Willis Towers Watson Global Medical Trends Survey, conducted between June and August, gathered data from 266 insurers across 66 countries. The survey revealed a global increase in health benefit costs, projecting a 9.9% rise in 2024, slightly lower than the 10.7% increase in 2023. Factors such as the decrease in elective procedures postponed during the pandemic contribute to this slight decline.

2. Regional Variations in Health Costs: There are notable regional differences in the anticipated increase in healthcare costs. For example, Europe is expected to see a 9.3% increase in 2024, down from 10.9% in 2023, while the Middle East and Africa are facing a higher rise of 12.1%. Geopolitical conflicts and the resulting displacement of populations in some regions have exacerbated medical costs.

3. Insurer Strategies and Employer Implications: Insurers identified overuse of care, poor health habits, and a lack of preventive services as the main drivers of medical costs. In response, many have added well-being and telehealth services to their portfolios to manage costs effectively. The survey's findings also highlight challenges for employers, who must navigate higher costs and volatility, requiring proactive strategies to balance cost pressures and employee wellness.

Business Group on Health: 4 employer health trends to watch in 2024

By Paige Minemyer - Employers are going to be expecting more from their partners going into 2024 as they look to address issues ranging from mental health to drug costs to wellness. Read Full Article…

VBA Article Summary

1. Heightened Partner Expectations: The Business Group on Health highlights that in the coming year, employers will place more stringent expectations on their partners, focusing on discernment in partnerships due to rising costs and concerns about the quality of solutions provided. There's an emphasis on reassessing existing contracts for greater transparency and better alignment with employee needs.

2. Growing Focus on Cost and Mental Health: Employers are increasingly vigilant about managing healthcare costs, which continue to rise due to various factors like inflation and healthcare labor issues. Additionally, there is a new focus on mental health, especially concerning youth and adolescent behavioral health. Employers plan to make mental health a key focus in 2024, seeking integrated solutions from their vendors and partners.

3. Emphasis on Chronic Condition Management: With cancer being a significant cost driver, employers are observing an increase in late-stage cancers due to missed screenings. As a response, they are enhancing preventive care options and focusing on chronic conditions like diabetes and cardiac health. Employers are leaning towards a "back to basics" approach, prioritizing primary care, prevention, and personalized options like biomarker screenings and genetic testing.

Disrupting employer health coverage: A new (low-cost) public option is in the works

By Dan Cook - With the open enrollment period in full bloom, this may be a good time for health plan sponsors to consider whether the proposed Choose Medicare option would fit into their insurance matrix going forward. Read Full Article…

VBA Article Summary

1. Expansion of Federal Insurance Programs: The Choose Medicare Act, introduced by Senators Chris Murphy and Jeff Merkley, aims to create a new public option based on the Medicare model. This initiative is primarily designed to provide affordable healthcare coverage to those in concentrated markets who currently lack health insurance or are burdened with high-cost options. It also presents a potential new plan for employers, especially small businesses, to offer basic, affordable coverage to their employees without increasing their cost structure.

2. Benefits to Employers and Employees: According to an analysis by the Urban Institute, the Act could induce more employers to provide health insurance as a benefit, thereby expanding workplace-based coverage. The Act is predicted to increase overall coverage by 3.6 million U.S. residents, with employer coverage rising by 1.0 million as more employers offer coverage and more employees opt for the lower-cost public option. This would be particularly appealing to small employers facing higher premiums in the current market. The public option could also ease the financial burden on employers that previously offered less credible coverage, as well as reduce the number of workers dependent on company health plans.

3. Challenges and Potential Impact on the Insurance Market: While the Act is gaining momentum, its full impact on the employer market remains uncertain, particularly in concentrated markets where small-to-mid-sized employers struggle to provide affordable coverage. The Act is expected to face resistance from insurers and providers, especially in less competitive markets where it could disrupt existing dynamics. The public option could lead to lower payment rates for providers, particularly hospitals in more concentrated markets, and provoke strong opposition. However, the Act is viewed as a potential solution for the rising costs and challenges in the U.S. health insurance system, offering relief for millions of underinsured or uninsured Americans.

It’s Time for the Tech Revolution to Come to Mental Health Diagnoses

By Andrew Marshak - While breast cancer garners widespread attention, mental health awareness often lingers in the shadows when compared to other medical conditions. The two diseases stand at opposite ends of the spectrum of diagnosis, treatment and scientific understanding. Read Full Article…

VBA Article Summary

1. Contrasting Diagnosis and Treatment Approaches: The article highlights the stark difference between how breast cancer and mental illnesses are diagnosed and treated. Breast cancer diagnosis benefits from precision medicine, including tumor typing and genetic analysis, leading to more effective treatments. In contrast, mental illness diagnoses are often vague and broad, such as "depression" or "anxiety," with treatment being more of an art than science, involving trial and error in medication and therapy.

2. The Need for Precision Psychiatry: The author stresses the urgent need for precision psychiatry, inspired by the progress in oncology. With more than 1 in 5 Americans living with mental illness, there's a call for improved diagnostic tools and treatment methods that go beyond subjective assessments. The article suggests utilizing technological advancements and data to develop more precise diagnostic and treatment methods for mental illnesses.

3. Vision for a Data-Driven Mental Health Care: The article proposes a future where mental health care is significantly improved through the integration of data, AI, and technology. This includes patients having access to their comprehensive health records, digital tools for self-assessment, and AI-generated insights for treatment. The author envisions a system where detailed patient histories and ongoing data contribute to more accurate diagnoses, effective treatments, and better overall outcomes for both patients and healthcare providers.

Why 1 Health System Is Embedding Genomics Into Primary Care

By Katie Adams - At Northshore–Edward Elmhurst Health, all patients are offered genetic testing as part of their primary care visit. This helps clinicians create more personalized care plans and facilitates earlier disease diagnoses, said Kristen Murtos, the health system's chief innovation and transformation officer. Read Full Article…

VBA Article Summary

1. Integration of Genomics in Primary Care: Northshore–Edward Elmhurst Health (NS-EEH), a major health system in Illinois, has integrated genomics into its primary care services. This move aims to enhance personalized care delivery, allowing a more holistic understanding of disease predisposition and enabling proactive and preventative care. NS-EEH offers genetic testing to all patients during primary care visits and specific tests for breast cancer risk during mammograms.

2. Widespread Implementation and Impact: Over 40,000 patients have undergone genetic testing at NS-EEH in the past four years, with more than 90% of primary care physicians within the NorthShore Medical Group ordering such tests. The health system has observed significant benefits from this approach, including early diagnostic care activation in high-risk patients and the identification of medication contraindications, improving personalized treatment plans.

3. Accessibility and Cultural Sensitivity Efforts: NS-EEH has made efforts to ensure broader access to genomics, particularly for populations that might not afford it, through collaborations with philanthropic organizations like the Swedish Hospital Foundation. Additionally, the health system has conducted studies to overcome cultural barriers in genomics, such as in the Vietnamese community, using insights to promote culturally sensitive approaches in genomics programs nationally.

Thanks to reporters at ProPublica and Scripps News, we are learning more about how health insurers cheat patients out of life-saving care

By Wendell Potter - During my debut as a whistleblower before the Senate Commerce Committee back in 2009, I told lawmakers they could not trust Big Insurance to do the right thing for patients or even to follow state and federal laws that had been on the books for years. Read Full Article…

VBA Article Summary

1. Widespread Malpractice in the Insurance Industry: The article highlights the insurance industry's long-standing problems with dishonesty and lack of trustworthiness. It discusses how insurers routinely break promises, disregard consumer protection regulations, and obscure critical information from consumers. The recent ProPublica investigation with Scripps News has shed light on how these practices have led to denied life-saving care and financial devastation for families, focusing on insurers ignoring state laws that mandate coverage for critical conditions like cancer.

2. Regulatory Failures and Profit Motives: The article underscores the role of underfunded and understaffed federal and state regulatory agencies in enabling insurers to continue their unlawful practices. This lack of oversight allows insurers to flout consumer protection laws and prioritize profits and executive enrichment over patient care. It is noted that even with state laws specifying required coverage, insurers often evade paying for expensive treatments, contributing to preventable deaths and financial hardship.

3. Challenges in Enforcement and Consumer Advocacy: The piece points out the challenges faced by state insurance departments in enforcing laws due to limited resources and staffing. The focus on ensuring the solvency of insurance plans often overshadows the protection of consumers from unlawful denials. Additionally, the article highlights the difficulty for individuals in challenging insurance denials, especially during critical life moments, leading to a low rate of appeals against wrongful denials. The ongoing ProPublica series aims to bring more attention to these issues by encouraging patients, doctors, and regulators to share pertinent information.

Patients don’t know how to navigate the US health system — and it’s costing them

By Dylan Scott - Of all the culprits that make it harder for Americans to afford and access health care, the sheer confusion many patients experience when trying to select an insurance plan or when faced with an expensive medical bill may be the most overlooked. Read Full Article…

VBA Article Summary

1. Survey Highlights Widespread Confusion in U.S. Health Care System: A Perry Undem survey, conducted for organizations like the American Cancer Society’s Cancer Action Network and RIP Medical Debt, found that a significant number of Americans struggle to afford health care. Approximately 70% of respondents received unaffordable medical bills, with over 60% making sacrifices to afford care. This confusion extends to understanding health care and insurance benefits, with many Americans unsure of medical service costs and insurance coverage, leading to higher out-of-pocket expenses.

2. Disparities in Contesting Medical Bills: The survey revealed that only 30% of Americans have contested a medical bill. There is a disparity in who contests these bills, with older, college-educated, and white Americans being more likely to do so compared to young adults, those without a college education, or Black Americans. Many Americans are unaware they can contest bills or find the process too overwhelming, contributing to financial struggles and ignorance about available financial assistance.

3. Complex Health Insurance and Impact on Health: The complexity of the U.S. health insurance system is a major barrier to affordability and access. During open enrollment, people face an overwhelming choice of plans, and many are confused about their insurance coverage when receiving medical treatment. This confusion is exacerbated by inconsistent enforcement of laws intended to reduce it, such as the No Surprises Act. The result is a significant impact on the health and financial well-being of Americans.

Boehringer plugs in IBM-trained AI model to boost antibody drug discovery efforts

By James Waldron - ​Boehringer Ingelheim will harness an artificial intelligence model trained in the computer labs of IBM as the German drugmaker becomes the latest Big Pharma to apply machine learning tools to its drug discovery efforts. Read Full Article…

VBA Article Summary

1. Collaboration between IBM and Boehringer: IBM's foundation model technology will be refined using proprietary data from Boehringer Ingelheim. This collaboration aims to revolutionize biologic drug discovery, as emphasized by Andrew Nixon, Boehringer's Global Head of Biotherapeutics Discovery. Nixon expresses confidence in the partnership's potential to expedite the discovery of antibody therapeutics for conditions with high unmet medical needs.

2. AI-Driven Drug Discovery Process: The partnership involves using AI to simulate experiments for identifying promising antibody molecules. Information about the sequence, structure, and molecular profile of disease targets is input into the AI model. This model simulates experiments to pinpoint antibodies most likely to succeed, which are then tested in real-world labs. The outcomes of these tests further refine the AI model, creating a feedback loop that enhances the discovery process.

3. IBM's Proven Expertise in Drug Discovery: IBM's foundation model technology has already demonstrated its effectiveness in generating biologics and small molecules with target affinities. The company, having previously collaborated with Pfizer and Moderna, is advancing its role in drug discovery. IBM's Vice President of Accelerated Discovery, Alessandro Curioni, notes the company's leadership in generative AI models and its commitment to extending these technologies to Boehringer Ingelheim, a leader in antibody therapy development and manufacturing. This collaboration signifies IBM's ongoing contributions to creating new therapeutics.