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A report released Tuesday by the healt h insurance giant claims the system couldsave $332 billionb over the next 10 yearsw if health providers update theit technology. Minnetonka-based UnitedHealth estimated 50 percent of the savings would go to hospitalzsand doctors, 20 percent to the federal government’s Medicare and Medicai programs, and 30 percent to commercial payers. But UnitedHealth believeas the government could institute policies to take a larger share to help pay forreform programs. “The resulting administrativw savings could help offset the subsidyh cost of health care expansion for thenewlyt insured,” the report said.
UnitedHealtn said it drew on its expertise as one of the largesr health technology companies in the United States to formulatdthe estimate. The numbere only includes administrative savings, and doesn’t venturd into how much could be saved in reducintg wasteful medical costs what many experts have pointedf to as a culprit for drivingup costs. Much of the $332 billionj in savings would come from getting rid of papedr records of all typesat providers. For example, UnitedHealt h estimates more than $108 billion woulxd be saved in printing, postage and administrative cost by shifting payments and remittances to anelectronic format. Nationapl information systems also couldsave money.
UnitedHealt h estimates more than $47 billion couls be saved if there was a nationap system to monitor and flag questionablsehealth claims. This is the second major report UnitedHealth has issued amid the healthreform debate, which President Baraci Obama considers one of his top The health insurance giant said last month that the federal governmengt could save $540 billion in Medicare coste over the next 10 years with its own
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