Health Affairs issued a study that said that there was a 7 percent increase in physician fees for total knee replacements due to the concentration of orthopedic groups.
According to the abstract, in the period 2001–10, the average professional fee for total knee arthroplasty was $2,537. During this time, in markets that moved from the bottom quartile of concentration to the top quartile, physician fees paid by private payers increased by $168 per procedure.
The increase nearly offset the $261 decline in fees that the authors observed, absent changes in market concentration.
Their findings suggest that caution should be used in implementing policies designed to encourage further group concentration, which could produce similar effects.
What does this mean to you, the employer? It means you are going to pay through the nose for knee surgeries as physician groups grow larger.
What does it mean to the workers’ comp industry? It means you are getting ripped off.
What does this mean for the medical travel industry? It means that you have to prove to US employers and carriers and insurance personnel that you really can save them money on knee surgery, and all other orthopedic surgeries.
Cosmetic, plastic, and other beautification surgeries are ok for some in the medical travel industry to offer, but to be really impactful, the industry must turn its attention to orthopedic surgery, as well as other medical services such as cancer treatment, heart surgery, etc.
That is when you will see increased volume in your businesses, that is when you will see increase numbers of patients, that is when medical travel will become possible for anyone who wants it, not just the well-to-do and those who want to look good.
I am willing to work with any broker, carrier, or employer interested in saving money on expensive surgeries, and to provide the best care for their injured workers or their client’s employees.
Call me for more information, next steps, or connection strategies at (561) 738-0458 or (561) 603-1685, cell. Email me at: firstname.lastname@example.org. Ask me any questions you may have on how to save money on expensive surgeries under workers’ comp. Connect with me on LinkedIn and follow my blog at: richardkrasner.wordpress.com. Share this article, or leave a comment below.