Friday, December 22, 2006
Health Industry Helping Itself
China woke up to the fact a few centuries ago, but give us enough time, and we westerners can sometimes learn a thing a two when the right mix of intellect and wallet-burn are applied.
What am I talking about? The wellness industry. As opposed to the health insurance industry.
Or, at least, that's how to used to be.
Cold hard numbers have alerted both government and the industry to the fact that it's actually cheaper to keep people healthy than it is to fix them.
The Medicare Advantage plans introduced a couple of years ago have been an outstanding success. They've attracted over 50,000 new participants a month since 2004. And last year the Federal Government approved another 163 commercial providers, just to keep pace.
And the participants? Judging by retention rates, they're loving it!
What am I talking about? The wellness industry. As opposed to the health insurance industry.
Or, at least, that's how to used to be.
Cold hard numbers have alerted both government and the industry to the fact that it's actually cheaper to keep people healthy than it is to fix them.
The Medicare Advantage plans introduced a couple of years ago have been an outstanding success. They've attracted over 50,000 new participants a month since 2004. And last year the Federal Government approved another 163 commercial providers, just to keep pace.
And the participants? Judging by retention rates, they're loving it!
