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Bethlehem, Pa. (January 24, 2017) – Coordinated Health (CH) CEO Dr. Emil DiIorio presented today at the Greater Lehigh Valley Chamber of Commerce Economic Outlook event, closing out the program with updates on employer-sponsored health insurance.
The event drew a record 700 attendees to the SteelStacks venue in Bethlehem, where six presenters provided observations and predictions on a variety of topics ranging from jobs and employment, industry data, business news, tax tips and economic trends.
As the speaker representing healthcare, Dr. DiIorio’s presentation covered what he considered the most critical topics for business owners to monitor: the tax deductibility of the nation’s $206 billion in employer-sponsored health benefits and rising pharmeceutical costs.
“Right now, drug costs in this country in some plans exceed inpatient hospital costs,” Dr. DiIorio said. “You can have an employee who needs a special rheumatology or oncology drug, and it can cost $10,000 a year just for that one employee’s drug costs. I’ve never seen anything like it, and I’ve been in this business awhile.”
Echoing a similar theme from his 2016 Economic Outlook speech, Dr. DiIorio reminded the audience of Lehigh Valley employers that they must continue to get actively involved in their employee health plans in order to control costs.
“The large employers, like Boeing, Disney and Wal-Mart, are taking a serious look at cost and quality,” said Dr. DiIorio. “They’re doing things such as direct contracting, reference pricing and aggressive case management. Eventually, everyone has to get involved.”
Dr. DiIorio closed his speech by outlining Coordinated Health’s continued focus on what he calls the “volume to value revolution,” which is an industry-wide shift toward accountability for healthcare providers.
“It means paying for healthcare based on cost and quality and not just volume,” he said. “All of it is based on some very basic industrial engineering and cost accounting techniques. No one should be more motivated than you guys to make that happen.”