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September 23, 2005
Health Savings Accounts in the New England Journal of Medicine
The latest issue of the New England Journal of Medicine has a brief article about Health Savings Accounts (HSAs). Many physicians are very unhappy with the current state of the healthcare system. They often spend an unordinate amount of time and money complying with insurance company rules, they tend to lose money on Medicare patients, and often have very little time available to spend with patients if they want to keep their HMO contract.
Health Savings Accounts do have the potential to change much of that. They also have the potential to cut the obscene profits of some drub companies in the healthcare sector. The drug companies may feel the pinch as HSA owners choose less expensive generic brands over equivalent high-priced patented brands. (Though the coverage of prescriptions by the new Medicare act will likely buffer any impact that HSAs have on pharmaceutical profits - at least for a while). Physicians may find themselves having to post their office visit charges and be more proactive in their marketing if they don't want to lose business to their competitors. It will be interesting to see how it all plays out.
Posted by Wiley Long at September 23, 2005 02:11 PM
Comments
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Jimmy Smith
Posted by: Jimmy Smith at May 3, 2006 01:23 PM