HIT Consultant November 13, 2024
In recent years, the healthcare industry has increasingly emphasized the importance of controlling costs, minimizing waste, and enhancing care outcomes. This focus is particularly urgent in California, where new legislation mandates state healthcare providers to limit spending growth to 3.5% in 2025 and 3% by 2029. The goal is to implement spending caps on hospitals, physician groups, and health insurers, with the expectation that these savings will ultimately benefit consumers.
California isn’t alone in its efforts; eight other states have enacted similar cost-control measures, with mixed success. Massachusetts, the pioneer in establishing a health spending benchmark, has largely met its 3.6% target growth rate over the past decade, as reported by CalMatters.
Addressing the financial challenges of healthcare is a...
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