Keeping Costs Low vs. Rising Costs
DALLAS & AUSTIN, Texas, July 7, 2010 — The Healthcare NarrativeTracker™ has detected a growing wave of concern throughout the nation about containing rising Healthcare costs. The catalyst stems from the new regulations being now written to implement The Patient Protection and Affordable Care Act. At this point the affordability issue is coalescing around the President Obama’s oft-stated pledge that you can keep current Health Insurance plans if you so choose. As M.I.T. health economist Jonathan Gruber recently stated, “It’s unclear that companies will want to have the same insurance plan in 2014 that they have in 2010.”
These facts have not gone unnoticed by the public and are considered by many to be a significant turnaround from earlier analyses, where people took at face value the President’s oft-stated words: “If you like your healthcare plan, you’ll be able to keep your healthcare plan, period.” Obama declared in a speech to the American Medical Association last June, “No one will take it away, no matter what.” In fact, the New York Times recently reported that the government calculates that while 70 percent of small-business plans will remain grandfathered in 2011 that number will drop to 34 percent in 2013. Apparently, even the routine changes that occur every year as employers search for better products can be defined as changing the plan enough to obviate the provision that allows you to keep your current insurance, potentially leading to increasing costs for employer and employee alike.
Subsequent analysis of the Internet, blogosphere, the print and electronic media, as well as new social media sources (such as Twitter) has shown that the public is aware of this shift. The results of the Healthcare NarrativeTracker Index™ (NTI™) were reported by OpenConnect, the leading company in event-driven intelligence solutions, and The Global Language Monitor, the media analytics company.
“Policies need to be evaluated by the effect they will have on the cost incurred with their implementation. The economics of healthcare reform need to be based on changes that help pay for themselves rather than make the problem worse. Only by realizing the type of efficiencies that have kept America in the forefront of world economic growth for the past century and a half will we be able to keep costs under current projections. All that is necessary is to summon the courage to make the tough choices ahead,” said Edward M.L. Peters, CEO of OpenConnect and author of The Paid-for Option, which details the methodology that has proven effective in the healthcare industry.
The Healthcare NarrativeTracker has detected rising concern about price increases perceived to be associated with the implementation of yet-to-be written regulations. The public is well-aware of the overall trillion dollar cost of the program, as well as associated costs, such as the so-called ‘Doc Fix’ not directly counted with the Healthcare Reform effort budget.
In the first three months of this year, conversations about keeping the price of insurance low were exceeded by conversations with those concerned about the rising costs of their healthcare by some 40%.
In the same manner, in the first three months of this year, conversations about keeping one’s insurance were surpassed by those about losing their insurance by some 54%. For the first six months of this year, the conversations about keeping one’s insurance were surpassed by those about losing their insurance by some 43% but with volume of the conversations increasing over 11,200%.
In summation, the media discussion resonating throughout the Internet, blogosphere and social media is driving the online discussion and conversations. This is particularly true when such narratives are being driven by articles such as those written by Dr. Marc Siegel who concludes, “the regulations impose a major vise on private insurance, restricting a company’s ability to increase cost sharing (such as coinsurance, deductibles and out-of pocket limits) as well as copayments (“more than the sum of medical inflation plus 15 percentage points or $5 increased by medical inflation”). So it is unlikely that many insurers will be able to remain viable without raising premiums (not restricted by the regulations) or slashing services.”
The NarrativeTracker Index is the first product specifically designed to use social media-based monitoring to better understand the issues driving healthcare reform. Because the Healthcare NTI is based on the national discourse, it provides a real-time, accurate picture of what the public is saying about any topic related to healthcare, at any point in time. In addition to the NTI, the NarrativeTracker Arc™ follows the rise and fall of sub-stories within the main narrative to provide a comprehensive overview of the opinions surrounding a single issue.
The NTI is based on the GLM’s Predictive Quantities Indicator™ (PQI™). The PQI tracks the frequency of words and phrases in global print and electronic media on the Internet, throughout the Blogosphere and other social media outlets as well as accessing proprietary databases. The PQI is a weighted index that factors in long-term trends, short-term changes, momentum, and velocity.
The Healthcare NTI is released monthly. The first analysis completed in May 2010 details the various narratives surrounding Massachusetts Healthcare reform, a healthcare model which has been adopted in the Patient Protection and Affordable Care Act, more commonly known as the national healthcare reform bill.