Need to Minimize Medicare Expenditures

MedicareThe US has been finding it hard to cope with the escalating expenditure for the past few years. With the pursuit of reducing the expenditure of the country on medicare, several cost cutting measures were introduced in various fields. Cost cutting measures were also introduced by the Medicare. However, these measures have almost failed, claims a report from Congressional Budget Office.

The Center for Medicare and Medicaid Innovation was created in the 2010 by the US and it is run by Richard Gilfillan. The center was created with the aim of reducing the expenditure of health care and for improving the quality of care.

Last year, $52 million was invested over a project which was aimed at improving the quality of care being received by the elders affected with multiple chronic diseases. This year, the spending of the Medicare has increase to $1.6 billion. Now, efforts are being pit towards lowering the expenditure of the Medicare and Medical Costs.

Gilfillan has recommended that private firms should be allowed to interfere in the working of the Medicare, which will not only boost competition but will also help in reducing the expenditure. While commenting on the recommendations, he said, “This is not a government-run demonstration project. This is about private-sector initiatives across the country”.

At present, the hospitals and doctors are welcomed by the Medicare officials and Congress to help in reducing the expenditure. Now, Gilfillan has recommended that private firms should be allowed to participate in the effort of reducing the expenditure.

The need of the hour is to change the strategies which are being placed for reducing the escalating expenditure. Emphasis is being laid on encouraging private firms to help Medicare in reducing the expenditure. Critics are of the view that the Medicare would be privatize by allowing the private firms to interfere with its working.