Word: kaiser
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Dates: during 2000-2009
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...Sept. 9 speech to Congress, President Obama singled out Geisinger and Utah's Intermountain Healthcare as examples of organizations that are learning to do things right. He could have cited others too: the Cleveland Clinic, the Mayo Clinic, Kaiser Permanente. What these providers have in common are the creative ways they're doing away with fee-for-service and replacing it with an imaginative mix of systems that cost less, keep patients healthier and make doctors happier. "We need a transition to rewarding the actual value of care," says Dr. Elliott Fisher, director of population health and policy...
...three strategies. Founded in 1915 as a 70-bed hospital in a small, underserved rural community, the operation now spans a 43-county region, with a total of 67 sites - stretching from one-doctor offices and in-store clinics to a sprawling main campus in Danville, Pa. Like Kaiser, the 13,000-employee Geisinger is both a care provider and an insurer. About 30% of its 783,000 patients have the in-house coverage; the remaining 70% are covered by other private insurers or Medicare...
...just as unsustainable as - if not more than - the U.S. health-care system as a whole, in which costs nationwide are on pace to exceed 20% of our gross domestic product by 2018. Premiums for employer-sponsored insurance increased 131% from 1999 to 2009, according to the Kaiser Family Foundation; over the same period, employee contributions to those premiums went up 128%. From 2006 to 2009, the percentage of insured individual workers with annual deductibles of $1,000 or more rose from 10% to 22%. Of companies that offered health benefits in 2009, 86% offered only one plan. (Watch TIME...
...Today, it's still the home of the new new thing. It is electric-vehicle start-ups like Tesla, Fisker and Better Place taking on the Big Three, or the local-organic foodies behind California cuisine going after Big Ag. It's Kaiser Permanente, the HMO whose model of salaried doctors in group practice may be the future of health care, or the University of California at Irvine's law school, which opened this semester with free tuition and was instantly more selective than Harvard or Yale. It's SpaceX, the private rocket-launching company, or Kogi, the Korean taco...
Harvard, which currently manages 30 percent of its funds internally and uses external investors to oversee the rest, says that its investment model allows it to achieve extraordinary growth at a fraction of the cost of hiring comparable outside managers. Nevertheless, Kaiser emphasized the need for lower compensation—even if it means that Harvard is forced to abandon the successful but arguably risky investment strategies that have served it well in the past...