Business Roundtable identifies ways to reduce healthcare costs

WASHINGTON An organization of CEOs of U.S. companies announced that it has identified ways to reduce healthcare costs for employers and employees, while also identifying practices that could increase them.

According to a report by the organization released Thursday, reforms to delivery systems, creation of “innovation centers” to identify alternative provider reimbursements, promotion of wellness and prevention programs and insurance market reforms could curb healthcare costs. Meanwhile, shifting costs to the private sector, delaying or watering down cost-saving efforts and increasing the costs of health care to individuals could cause overall costs to increase.

"This report shows that effective reforms can slow healthcare costs by as much as $3,000 per employee by 2019," Business Roundtable Consumer Health and Retirement Initiative chairman and Eastman Kodak Co. CEO Antonio Perez stated. "Healthcare reform done right could reduce the growth rate of healthcare costs."

The organization sent the report, conducted by Hewitt Associates and titled “Health Care Reform: Creating a Sustainable Marketplace,” to members of Congress and the Obama administration.

“The crippling spike in healthcare costs makes it harder for America’s companies and workers to compete in the world economy,” Business Roundtable chairman and Verizon Communications CEO Ivan Seidenberg said. “In this challenging economic environment, we need to make sure we improve, not erode, U.S. competitiveness.”