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Article Date: 05/11/2009

Health Care Industry Predicts $2 in Trillion Savings
Leading groups in the health care industry feel that they will be able to find a way to reduce health care costs so much over the next decade that they will be able to virtually eliminate the nation's budget deficit. They expect a reduction of 1.5 percent of health care costs per year, totalling $2 trillion dollars over the next ten years. The Obama administration predicts it will push such changes in the coming year. Although a similar reform was in 1993 when Clinton was in office, it was criticized by drugmakers, insurers, hospitals and the American Medical Association. However, the lack of workers' raises and low business profits, combined with the high cost of health care today, has made them more open to extending coverage to uninsured Americans. The plan on how to reach this goal are still unclear, and the ability to track these savings would be difficult to determine.

Website Address: http://www.charlotteobserver.com/business/story/717263.html

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