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Stuck in the waiting room - part 1 of 2; The spiraling costs and widespread inefficiencies of the U.S. health care system have spurred much debate in government and business quarters alike, but few effective solutions. If the private sector can't come up with a cure, some experts say, a move toward a national health care model could be in the offing.
Publication:
Workforce Management
Publication Date: 25-SEP-06 |
Format: Online
Delivery: Immediate Online Access |
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Full Article Title: Stuck in the waiting room - part 1 of 2; The spiraling costs and widespread inefficiencies of the U.S. health care system have spurred much debate in government and business quarters alike, but few effective solutions. If the private sector can't come up with a cure, some experts say, a move toward a national health care model could be in the offing.(Special Report) |
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Article Excerpt
Byline: Jeremy Smerd
Sen. Hillary Rodham Clinton got right to the point with General Motors CEO Rick Wagoner regarding rising health care costs and their effect on American business.
"Why is it that American business doesn't just rise up and say there's got to be a better way here?'' she asked during a Senate hearing in July.
GM knows about the cost of health care to a company's bottom line. The world's No. 1 automaker is fighting for survival, and health care benefits are in the cross hairs. As the largest private provider of health insurance in America, GM spent $5.3 billion to cover 1.1 million people in 2005, ultimately forcing the automaker to cut health care benefits for many of its workers-including retirees.
The year before, GM paid $1,525 in health care costs for every car it made in North America, notes management consulting firm A.T. Kearney, while Toyota, having recently supplanted Ford as the world's second-biggest auto manufacturer, spent just $201 across the continent.
And so it was...
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