Ann Arbor, MI – September 18, 2012 — With key provisions of the Patient Protection and Affordable Care Act (PPACA) now in effect for over a year, Truven Health Analytics, formerly the Healthcare business of Thomson Reuters, has assembled a compendium of data tracking the impacts of reform and other industry trends on employer healthcare costs. The new report, US Employer Benchmarks and Trends, uses real-world insurance claims data for 340 large U.S. employers representing 18.3 million covered lives to track healthcare costs over the past five years and project costs for 2012 and 2013.
According to the report, medical and pharmacy costs for employees and their dependents from 2010 to 2011 increased at a rate of 4.6 percent, the smallest increase in annual employer healthcare costs over the last five years. The research also projects that allowed amounts will continue to grow at a moderate rate of 4 to 5 percent in 2012 and 2013.
The relatively modest 2011 cost trend of 4.6 percent reflects the impact of PPACA and Mental Health Parity regulations effective in 2011. Following is an overview of some of the key facts highlighted in the new report:
Additional data covered in the report includes: the impact of pay-or-play strategies on employer healthcare costs, branded and generic prescription drug trends, consumer-driven health plan cost trends, costs on an industry-by-industry basis, and dental cost trends.
“In this period of enormous fluctuation in both healthcare and the broader economy, timely and appropriate benchmark comparisons are essential to identifying areas for program intervention, measuring progress, and providing decision makers with appropriate context for program performance,” said Chris Justice, the paper’s lead author and senior director of practice leadership, Truven Health Analytics. “Employers, insurers, and plan administrators who are able to take a data-driven approach to managing population health and productivity can make their benefit programs sustainable in the current market.”
Data for the report were compiled from the Truven Health MarketScan® Research Databases, which provide fully integrated, anonymous, individual-level healthcare claims data that reflect real-world treatment patterns and costs.
For more information on the paper, please visit http://interest.truvenhealth.com/forms/EMP-LP201208MarketScanNormsBook
About Truven Health AnalyticsSM
Truven Health Analytics, formerly the Healthcare business of Thomson Reuters, delivers unbiased information, analytic tools, benchmarks, and services to the healthcare industry. Hospitals, government agencies, employers, health plans, clinicians, and pharmaceutical and medical device companies have relied on us for more than 30 years. We combine our deep clinical, financial, and healthcare management expertise with innovative technology platforms and information assets to make healthcare better by collaborating with our customers to uncover and realize opportunities for improving quality, efficiency, and outcomes. With more than 2,000 employees globally, we have major offices in Ann Arbor, Mich.; Chicago; and Denver. Advantage Suite, Micromedex, ActionOI, MarketScan, and 100 Top Hospitals are registered trademarks or trademarks of Truven Health Analytics. For more information, please visit truvenhealth.com.