Page 32 - BusinessWest October 3, 2022

Price Pressure
Massachusetts Residents Cite Costs as Primary Healthcare Concern
The cost of healthcare, not the COVID-19 pandemic, is now the top healthcare
concern facing residents of the Commonwealth. Massachusetts residents reported that only inflation and the cost of housing were greater challenges than the cost of health- care, according to a new survey com- missioned by Blue Cross Blue Shield
of Massachusetts.
The survey, conducted by Beacon
Research, also found that the cost of care resulted in skipped or delayed healthcare for nearly half of Massachu- setts residents.
“After two years of intense focus
on COVID, cost is again the primary healthcare issue facing Massachusetts residents,” said Chris Anderson, found-
er and president of Beacon Research. “Consumers strongly believe that this is an urgent issue that health plans, the government, and hospitals should be working to address.”
Key findings from the survey included:
• Massachusetts residents are three times more concerned about cost of care over quality, access, or the COVID-
19 pandemic;
• Healthcare costs are challenging
family finances for nearly two-thirds of Massachusetts residents, trailing only the daily pressure of gasoline and food price increases;
• Eighty percent of Massachusetts residents think it is highly or extremely important to take action on healthcare costs;
• When asked who they think should be doing more to control healthcare costs, residents cited health plans (87%), government (85%), and hospitals (81%);
• Massachusetts residents are put- ting off needed healthcare (42%) and prescriptions (26%) because of cost; and
• Younger and affluent residents are the most likely to think care is unaffordable.
“As we emerge from the COVID pandemic, we conducted this poll to better understand what Massachusetts residents believe are the key priorities in healthcare.”
“As we emerge from the COVID pandemic, we conducted this poll to better understand what Massachusetts residents believe are the key priori- ties in healthcare,” said Jay McQuaide, senior vice president and chief Com- munications officer at Blue Cross. “There is a clear call to action in these survey results for those of us in health- care to do more and to act with greater urgency to address the unsustainable rise in healthcare costs.”
Blue Cross reported that it is working with others in healthcare to responsibly moderate the growth in healthcare spending. Among the steps the company is taking are collaborat- ing with physicians and hospitals to achieve contracts that reflect the com- munity’s serious concerns related to healthcare costs; advancing next-gen- eration, value-based payments; better supporting members managing chron- ic conditions; and managing pharmacy spending — the company’s most-used benefit — to ensure members are get- ting high-quality, clinically appropriate prescription drugs. u
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in business and in life
Timm Marini
President of Western New England, President of Personal Lines HUB International New England, LLC
Charlie Epstein
Senior Vice President, Retirement and Private Wealth Services
HUB Retirement
and Wealth Management
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