WMC Foundation – an affiliate of Wisconsin Manufacturers & Commerce – released a new report outlining the challenges posed by Wisconsin’s health care costs.
An Arm & A Leg is the newest installment of WMC Foundation’s Wisconsin 2035, a research project seeking to understand the biggest economic issues facing the Wisconsin business community. The research also proposes possible solutions.
According to the interviews, research, and data from the Wisconsin Employer Survey, which is conducted twice a year by WMC, the cost of health care is a major concern for Wisconsin businesses. Recent surveys have found it to be the No. 1 issue business leaders think state lawmakers should solve.
Wisconsin has the fifth highest hospital costs in the country and the second highest medical payments for workers compensation, according to the WMC report.
The Wisconsin Employer Survey found 54 percent of businesses pay more for health care in Wisconsin versus others states where they operate.
“Price transparency has proven to effectively lessen the financial load of health care in many other states,” said WMC’s Associate Vice President of Government Relations Rachel Ver Velde. “When patients have access to data, costs are lowered across the board because of increased accountability and competition.”
Additionally, the report offers case studies of best practices for private businesses. By using preferred providers – mostly independent clinics and other partners not associated with a hospital system – companies can compare costs for common procedures and offer cost-saving care for employees. Some employers also use on-site clinics and direct primary care to serve their teams and lower costs.
Wisconsin is one of five states without a medical fee schedule. An Arm & A Leg argues these schedules help stabilize workers compensation systems by limiting what providers can charge to treat injured workers.
“Since more than half of insured patients in Wisconsin are covered under an employer plan, it’s critical that we work to solve the issue of high health care costs,” Ver Velde added. “Our state’s economy, business community, and patients depend on it.”
See the full report here:Â wmcfoundation.org/wp-content/uploads/2024/12/WI-2035-Health-Care-Report-Dec-2024-FINAL.pdf
