Insights from Our Integrated ERM and Claims Settlement Solutions Practices
"The measure of intelligence is the ability to change." Albert Einstein
Guy Carpenter Releases New ERM Benchmarking Study
In March of 2014, Guy Carpenter reported in their study entitled "Enterprise Risk Management Benchmark Review: 2013 Update" that there was a continued movement toward more robust enterprise-wide risk management practices in the period following the financial crises of 2002 and 2008. With the goal of greater transparency, regulators and rating agencies have increased the emphasis on ERM-related disciplines in capital adequacy reviews.
HHS Reports Lower Costs for Prescription Drugs
On March 21, 2014, the Department of Health and Human Services (HHS) reported that millions of seniors and people with disabilities with Medicare continue to pay lower costs on prescription drugs and improved benefits in 2013 due to the new health care law. Since enactment of the Affordable Care Act, 7.9 million seniors and people with disabilities have saved $9.9 billion on prescription drugs, or an average of $1,265 per beneficiary.
CMS Announces Plan for Transparency in Doctor Billings
In letters to the American Medical Association and Florida Medical Association, the Centers for Medicare & Medicaid Services (CMS) announced their intent to take a major step forward in making the health care system more transparent and accountable. CMS is planning to provide the public unprecedented access to information about the number and type of health care services that individual physicians and certain other health care professionals delivered in 2012, and the amount Medicare paid them for those services. The release of data is expected after April 9, 2014.