S&P Healthcare Economic Indices: Healthcare costs keep increasing

Implementing EHR technology can reduce the ever-increasing healthcare costs.

Implementing EHR technology can reduce the ever-increasing healthcare costs.

The S&P Healthcare Economic Composite Index notes that the average per capita cost of healthcare contained by commercial insurance and Medicare programs went up by 5.75 percent over the last year, ending in February 2012.

This is a higher rise than the previously predicted 5.23 percent increase of annual growth rate. Healthcare costs covered solely by commercial insurance plans also rose by 7.73 percent over this same year. The S&P Healthcare Economic Medicare Index indicates that growth rates in Medicare claim costs increased by 2.72 percent by the end of February 2012.

"We observed further acceleration in healthcare costs annual growth rates in February. In keeping with the trends seen since the second half of 2011, February data signaled a general upward trend in healthcare costs, as measured by annual rates of change," David Blitzer, Chairman of the Index Committee at S&P Indices, said in a press release. "Over the past eight months or so, annual rates of change in per capita healthcare costs have generally been rising."

Chiropractors who want to contain high healthcare costs and reduce the burden on the insurance industry should consider implementing EHR systems along with chiropractic management software. A low monthly subscription could go a long way in lowering the costs a chiropractor must handle.

EHR software would reduce the reliance on paper records within a chiropractic office. By using fewer paper-based documents, a chiropractor would spend much less money on such products. Affordable EHR software would also reduce the need for a secretary to handle the many paper records that may accumulate in an office, as the doctor of chiropractic can use the software to look up all patient data. By using EHR systems, a chiropractor will be reducing the ever-increasing costs of healthcare.

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