Healthcare companies should “be held accountable for containing costs”: EY Americas exec

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EY America Chief Medical Officer Dr Yele Aluko joined Yahoo Finance to discuss how to achieve health equity and the need to curb rising health care costs.

“Employers are spending an excessive amount of health care spending on health care use,” Aluko said.

American employers account for one-fifth of the more than $ 3.5 trillion spent on health care, and is the largest source of private insurance coverage in the country.

There is a large amount of waste within the industry, and a lot of inefficiency borne by employers managing the health care of their employees, which is why all stakeholders need to come together to solve the problem, did he declare.

For example, employers pay huge sums for chronic illnesses such as heart disease and cancer, which are disproportionately biased against minorities, Aluko said. Employers who embrace the idea of ​​health equity can use this knowledge and data to demand better coverage and lower costs.

“Advocating for equity in health will lead to a significant release of capital for the company,” said Aluko.

“Until we begin to focus on the value and elimination of variation in care across demographics,” said Aluko, we can expect the rising costs of care to continue.

“Healthcare organizations have a responsibility to be held accountable for containing costs. said Aluko.

Medical device or doctor’s or nurse’s stethoscope equipment with metal coins and black tubes lying on a pile of US currency in large bills or cash covering the entire surface.

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