The shortages are starting

This site may earn a commission from merchant affiliate links, including eBay, Amazon, and others.

SlugSlinger

Sharpshooter
Supporting Member
Special Hen Supporter
Joined
Apr 14, 2009
Messages
7,825
Reaction score
7,621
Location
Owasso
I suspect it will happen soon. Especially with the high demand field such as yours.


Medical Cost Trend Could Hit 10% in 2021
One upshot for provider organizations is that it will be crucial to build out virtual mental health care options and integrate them into "broader primary care services."
HealthLeaders
The medical cost trend could range between 4% to 10% next year, according to PricewaterhouseCoopers' (PwC) annual medical cost trend study released Wednesday morning.

PwC forecasts three scenarios for the medical cost trend in 2021, with a high scenario of growth at a 10% spending rate, a medium scenario of a flat spending rate at 6%, and a low scenario of "dampened" spending at 4%.

The report indicated that the ongoing coronavirus disease 2019 (COVID-19) pandemic has already dramatically impacted employer healthcare spending, which is likely to continue into next year.

"Employers are incurring unplanned COVID-19 testing and treatment costs in 2020, and those costs likely will continue in 2021," the report stated. "In 2020, these unplanned costs are expected to be more than offset by the savings from delayed care during the pandemic. An increase in spending is expected in 2021 as the demand for care returns."

Related: Medicaid Pharmacy Cost Trend Increases Despite Drop in Utilization

Major factors that are expected to impact healthcare spending next year include behavioral health services, the emergence of telehealth, new specialty drugs, and narrow networks, according to PwC.

Related: National Health Spending Growth Projected at 5.4% Annually through 2028

The upshot for provider organizations is that it will be important to build out virtual mental health care options and integrate them into "broader primary care services," while also coordinating with payers and employers to administer high-priced specialty drugs in the "safest, lowest cost setting."

Additionally, hospitals and health systems must embrace the idea that the rising popularity of telehealth services may be "the new normal," redesigning the patient experience around a "heavily virtual system," as well as pursuing narrow network agreements that "address patients' whole health needs."

Related: Employer Medical Costs Forecast to Rise at More Than Double the Inflation Rate

This year's medical cost trend report deviates from last year's study given the precipitous drop in employer healthcare spending at the start of 2020 and the uncertain nature of spending for the rest of the year.

Last year's study estimated that the medical cost trend would rise slightly in 2020 after remaining flat in 2018 and 2019. PwC attributed this to employers taking on activist roles to reduce healthcare costs more effectively.

Related: Medical Cost Trend Expected to Rise in 2020

Jack O'Brien is the Content Team Lead and Finance Editor at HealthLeaders, an HCPro brand.
 

wawazat

Sharpshooter
Supporting Member
Special Hen Supporter
Joined
Nov 25, 2014
Messages
1,148
Reaction score
2,053
Location
OKC, OK
Try buying appliances right now

Yeah, we finally got a 21cuft deep freezer, but the wait list to get a beef processed is looking like March 2022. We will just have to look for sales as they come up and take advantage where we need to until then.
 

John6185

Sharpshooter
Supporting Member
Special Hen Supporter
Joined
Oct 27, 2012
Messages
9,308
Reaction score
9,606
Location
OKC
Today a young couple will never be able to buy a home at today's prices and they keep going up. A $180.000 home a couple of years ago is close to $280.000. We bought our home for $238,000 a few years ago and it's "valued" at $310,000 today and isn't worth the value. I want to downsize but a "Downsized" home is well over $260,000.
 

druryj

In Remembrance / Dec 27 2021
Supporting Member
Special Hen Supporter
Joined
Jan 16, 2010
Messages
21,474
Reaction score
17,724
Location
Yukon, OK
Sheetrock is getting hard to come by ,.... the construction industry is in overdrive right now............... Trying to figure this deal out is impossible ... , cannot find workers right now!!

What...losing my job and currently working on changing trades.

Hey @HoLeChit , @okierider might hire you, but he will want you to actually do work. Heck, if he'd hire me, and I won't do a damn thing even remotely resembling work, I'd start tomorrow.
 

ConstitutionCowboy

Sharpshooter
Supporting Member
Special Hen Supporter
Joined
Jul 5, 2006
Messages
6,251
Reaction score
5,120
Location
Kingfisher County
Here's a thought for downsizing: Disassemble part of your house, sell off the salvaged lumber, wire, fixtures, etc., and that should cover your "downsizing" expenses.
Then, you can enjoy the benefits of lower utility costs, lower taxes, less upkeep, etc., etc., etc. :coffee:

The way things are going, that might be the only way to survive the bleak future we face. :anyone:

Woody
 

okierider

Sharpshooter
Staff Member
Supporting Member
Special Hen Moderator Moderator Supporter
Joined
Dec 26, 2016
Messages
8,665
Reaction score
12,710
Location
OKC
Here's a thought for downsizing: Disassemble part of your house, sell off the salvaged lumber, wire, fixtures, etc., and that should cover your "downsizing" expenses.
Then, you can enjoy the benefits of lower utility costs, lower taxes, less upkeep, etc., etc., etc. :coffee:

The way things are going, that might be the only way to survive the bleak future we face. :anyone:

Woody
LOL, your drinking the kool aid if you the they will let you downsize the taxes just cause you downsized the house :bolt::cool:
 

Latest posts

Top Bottom