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Medicare, the federal health insurance program created 50 years ago Thursday, writes a staggering number of checks. It now covers about 55 million Americans ages 65 and older, as well as people with permanent disabilities. Medicare benefit payments last year totaled $597 billion, or 14 percent of the federal budget.
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Medicare reimbursement rules that control how providers (hospitals and doctors) are paid have always been handled through annual legislation passed by Congress. Did you know that is not longer true due to Obamacare? Read on for the rest of the story…
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Within America’s massive health care sector lies an extensive matrix of sub-industries and economic engines that include information technology (IT). If fact, you may not find a force more important for the management of healthcare in America than IT.
Health care in the United States is provided by many distinct organizations and within those organizations, many distinct disciplines like information technology. Health care facilities are largely owned and operated by private sector businesses. 58% of US community hospitals are non-profit, 21% are government owned, and 21% are for-profit. According to the World Health Organization (WHO), the United States spent more on health care per capita ($8,608), and more on health care as percentage of its GDP (17.2%), than any other nation in 2011.
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Opinions vary as to the root cause, but data suggests the inflation rate for healthcare spending in the US is slowing down.
▶Flip②▶While it is interesting that the President repeatedly chimes that the Obamacare program is actually the Affordable Care Act, the social media presence of the program has his signature all over it, as in the TWITTER site from which this tweet is embedded.▶