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10 Major Drivers of Healthcare Costs According to Physicians

Here are the top 10 major drivers of healthcare costs as assessed by physicians in The Physicians Foundation's "A Survey of America's Physicians: Practice Patterns and Perspectives."

 

The survey, published last year, includes responses from more than 13,000 physicians.

 

1. Defensive medicine: 69.1 percent
2. Aging population: 64.9 percent
3. Cost of pharmaceuticals: 59.1 percent
4. Advances in technology and treatment: 51.2 percent
5. Social conditions such as poverty, violence and illegal immigration: 43.5 percent
6. State and federal insurance mandates: 41.6 percent
7. Lack of price transparency: 40.5 percent
8. Limited patient financial obligations: 39 percent
9. Absence of the free markets: 37.2 percent
10. Fraud: 18 percent

 

Only 3.8 percent ranked physician fees as a major driver of healthcare costs. Around 17 percent said the Relative Value Update Committee was a major driver, with another 47.8 percent saying it was a moderate cost driver.

 

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