GDP Blog

Looking Forward with Innovation

Posted by Logan Barry

Jan 25, 2019 4:11:32 PM

What comes to mind when you hear the words innovation and technology? For me it’s flying cars, floating skyscrapers, and spaceships; how cool would that be to look down over Mars as you fly by in your Spacebender 3000? We have now reached the year 2019 and still don’t have the flying cars we remember from the Jetson cartoons, but never fear, I’m sure Elon Musk is working on this (unless Richard Branson gets to it first). Although we are not yet star trekking through the atmosphere in our private spaceships, we are making tremendous advancements in the healthcare industry. New ideas, new technologies, some great, some just for fun, but all leading to better programs for employers and their employees. Why is such advancement important to us? It is important because the costs of healthcare are projected to reach $8.7 trillion dollars by the year 2020…Yes, I said $8.7 trillion. Not to mention, the current healthcare inflation rate is right around 6.5% annually which is more than 3 times that of the U.S inflation rate of 2% – don’t you think this is a problem worth solving? I would imagine so, and if you think the increases outlined above are not going to be directly reflected in our insurance premiums, then you’re just as naive as I was when I thought I would be driving a flying car at the age of 16.

Lucky for us it is the year 2019 and innovators are using new technology solutions to help soften the risk of high healthcare prices and premium rate increases in the most creative ways. Recently there was no better place to be as an innovator than at the Consumer Technology Association’s (CTA), CES 2019 annual showcase. This event is one of the largest technology conferences in the world and has been taking over the Las Vegas strip for years; it serves as a proving ground for innovators in the business of consumer technologies. This year the WSJ reported that there were 511 companies that represented the digital health sector, up from 472 last year. Featured products included wearables that track blood pressure and heart rhythms, as well as home sperm fertility tests, making home health technology a significant topic of conversation. What better way to cut healthcare costs then to have consumers do blood tests and health monitoring in the comfort of their own home, eliminating the need for an outrageously expensive office visit where we have no idea what we are being charged for.

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Topics: CES, CTA, Wearables, technology, healthcare, innovation, wellness

MEDICARE FOR ALL: Good Idea or Good Politics?

Posted by Seth Denson

Jan 18, 2019 7:02:21 AM

During the most recent mid-term elections, Healthcare continued to rank atop the list of those things most important to Americans. According to Gallup, 80% of Registered Voters listed healthcare as either extremely or very important, followed closely by the Economy and Immigration both at 78 percent. Medcare for allWith Republicans failing to do anything comprehensive regarding health care during their recent control of both houses of Congress as well as the Executive branch, the U.S. finds itself once again in a discussion around the government’s role in solving America’s health care crisis. Among the solutions most touted by Democrats is the idea of a ‘Medicare for All’ platform.

According to Vermont Senator Bernie Sander’s, the most outspoken legislator leading the charge for Medicare for All, “Health care must be recognized as a right not a privilege for every man, woman and child in our country regardless of their income. The only long-term solution to America’s health care crisis is a single payer national health care program.”

No question that in America, something should be done to insure that every citizen has access to quality affordable health care, how we accomplish this may be a bit more complex than the broad brush of ‘single payer.’ While the idea of nationalized medicine might sound good to many Americans and makes for a good talking point on the cable news talk shows, when it comes to government run healthcare, the devil may most certainly be found in the details. Our team at GDP Advisors reviewed ‘Medicare for All’ (specifically the plan outlined by Senator Sanders), and have compiled our thoughts and opinions on the measure.

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Topics: health care, medicare for all, congress, healthcare reform, healthcare

2019 Drug Prices = A Bitter Pill to Swallow

Posted by Seth Denson

Jan 3, 2019 5:20:32 PM

It was reported this past week that more than two-dozen drug manufacturers are planning to raise the list price of many of their products in early 2019. On the surface this seems to be a delayed ‘slap in the face’ at President Trump who has made lowering the cost of drugs a primary objective. Many of these same manufacturers had announced back in mid-2018 that they had intended to raise prices; however, following public shaming from the White House later relented, stating that they would delay those rate hikes until 2019, and now it appears that those chickens have come home to roost.

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Topics: prescription drugs, Cure for Healthcare, Trump

Déjà Vu All Over Again: The Recent Ruling On the Constitutionality of the ACA & What Comes Next

Posted by Seth Denson

Dec 18, 2018 1:20:13 PM

The past Friday, on the eve of the last day of the 2019 Open Enrollment season for the ACA’s Federal Marketplace, Americans have found themselves, yet again, at another legal crossroads concerning health care in the United States. According to a ruling issued by U.S. District Judge Reed O’Connor, due to the elimination of the penalty surrounding the Individual Mandate as a result of the Tax Cuts and Jobs Act of 2017, the Affordable Care Act is unconstitutional. While the fall out of this decision has yet to be determined and for the time being, both Health and Human Services along with the White House have stated no immediate changes will occur as a result of this ruling, appeals have already begun and as such, the ACA will once again end up in the Supreme Court.

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Topics: ACA, Supreme Court, SCOTUS, Obamacare

THE TRUMP EFFECT: A Closer Look at Why ACA Enrollment is Down & What Consumers Need to Know

Posted by Seth Denson

Dec 14, 2018 10:31:47 AM

As we near the end of this, the 6th Open Enrollment period since the ACA was implemented; all indicators are that the overall enrollment numbers are down. While it is easy to point to the most common reasons we might hear is the cause, a deeper dive into all factors surrounding enrollment is essential to understanding all of the various drivers of the dismal enrollment numbers.

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Topics: ACA, Health Insurance, Obamacare, healthcare reform

Your Facebook & Twitter Post Could Impact Your Health Insurance Cost

Posted by Seth Denson

Jul 26, 2018 8:32:34 AM

The things that we do impact our lives. The foods we eat, how much sleep we get, exercise (or lack thereof), even what we watch on TV can have an impact on our health (both physical and mental). This isn’t news to us as most rational people recognize the correlation between our actions and our health, but what if our health insurance companies new all these details about us? Would we change our behavior if it impacted our ability to be insured or increased our health insurance rates? Or, would we simply try hiding these specific details of our life so that those that could use this information against us wouldn’t have access to it?

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Topics: data, Health Insurance, Social Media, U.S. Healthcare

The President's Plan to Curb Rising Prescription Drug Costs: What Was Said, What Wasn't Said, and What Needs to Be SAid

Posted by Seth Denson

Feb 13, 2018 1:24:18 PM

Late last week, The Council of Economic Advisers which operates within the Executive Office of the President released a nearly 30 page white paper outlining issues related to the ongoing increase in costs associatePresidental White Paper-1.pngd with pharmaceutical drugs.  The report was broken into multiple parts, ranging from introducing this issue, describing how Americans are paying higher prices for prescription drugs than the rest of the developed world, and finally how we might improve innovation to reduce the overall price of healthcare.  Within the sub-parts of the document were topics including how Medicaid and Medicare procure prescriptions for their participants, how other world markets are benefiting from the U.S. led innovation and development, how middle-men known as Prescription Benefit Managers are inflating the overall cost of prescriptions, and the lengthy process by which drugs become available in the marketplace. 

SUMMARY & COMMENTARY

While the original intent of the White Paper was to both outline problems and offer up solutions, the document favored the former, and provided little by way of real policies that might impact the rising cost of prescription drugs.  We agree with the information provided in the brief; however it fell short in the areas of solutions only offering few suggestions limited in substance.  Healthcare is a real problem in the United States making up 18% of the Gross Domestic Product.  Of the $3.4 trillion spent on healthcare each year in the United States, roughly 20% of that number, $457 billion, is on prescription drugs.  Said differently, for every $100 generated in the United States, $2.50 is spent on prescriptions. 

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Topics: healthcare reform, Republican Healthcare, prescription drugs, iamthelorax

GDP's Seth Denson Join's the Jeff Angelo Show on Des Moines WHO - Broadcast Date 2/2/2018

Posted by Seth Denson

Feb 2, 2018 4:22:56 PM

Seth Denson joins "Need to Know with Jeff Angelo" on 1040 WHO in Des Moines to discuss the Amazon, Berkshire Hathaway, JP Morgan collaboration on healthcare and its impact on the stock market. 

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Topics: amazon, stock market, healthcare reform, iamthelorax, iowa

Co-Founder Seth Denson Discusses the Future of Healthcare on KEXB's "In The Know with Brian Glenn" - Broadcast Date 1/31/2018

Posted by Seth Denson

Feb 2, 2018 4:16:32 PM

Seth Denson join's Brian Glenn on DFW's KEXB Radio to discuss all things Healthcare, Amazon and living in North Texas.

 

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Topics: amazon, healthcare, texas, iamthelorax

GDP's Seth Denson joins the fox news rundown - Broadcast 2/1/2018

Posted by Seth Denson

Feb 2, 2018 4:07:37 PM

GDP Co-Founder, Seth Denson is interviewed by Fox News anchor Jessica Rosenthal regarding Amazon, Berkshire Hathaway & JP Morgans recent annoucment that they will collaborate impact the healthcare of their employees.

 

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Topics: healthcare, amazon

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