Survey of actuaries on how to reduce health-care costs

With national healthcare spending expected to rise by hundreds of billions of dollars over the next 10 years, there needs to be a greater emphasis on finding ways to reduce healthcare cost trends. According to the findings from two recent surveys by the Society of Actuaries (SOA), actuaries and consumers both believe that more transparency within the U.S. healthcare system is the key to bending the cost curve downward: Actuaries believe there needs to be more transparency between doctors and patients, while consumers feel they could make more informed decisions if they had more information on medical procedures and options for care.

The entire article is here. My only thought is there isn’t much actuarial in the analysis. For example, you don’t need to be an actuary to believe that people could control costs better if they knew how much things cost. Nor does being an actuary bring any special insights to the questions in the survey, as far as I can tell.

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