INDUSTRY TRENDS: BY THE NUMBERS Compiled by Cari Kraft, Jacobs Management Group, Inc. MEDICARE MEDICARE ADVANTAGE
6.5%
19,000,000+
Number of Medicare beneficiaries in Medicare Advantage This represents 33% of the total members enrolled in Medicare. There are 2,317 Medicare Advantage plans available nationwide. Source: Kaiser Family Foundation, October 2017
68%
2018
2008
Increase in DOs in the US The number of osteopathic physicians (DOs) has surged 68%, and the number of osteopathic medical students is up 85% in the last decade, representing about 25% of all medical students. This may help close the gap between physician supply and demand, estimated at between 61,700 and 94,700 physicians by 2025, according to the American Association of Medical Colleges. Source: Osteopathic Medical Profession Report, 2017
41 | HS&M FEBRUARY/MARCH 2018
Projected 2018 rise in medical costs Medical costs in the employer insurance market will go up about 6.5% this year, the first increase in three years. This price is a significant driver of medical costs, and PwC indicates that healthcare spending is growing faster than the economy, a trend that isn’t sustainable. Source: PwC’s Health Research Institute (HRI)
87% Doctors whose top concern was rising cost of care for their patients This finding has risen dramatically, from 59% in 2016 to 87% in 2017. Other major issues: wider access to therapies, repeal of individual mandate, and a belief there will be cuts to Medicare and Medicaid. Source: InCrowd physicians’ predictions research, November 2017
