President Obama intends to pay for a healthcare bill in part with cuts in wasteful spending, according to a New York Times article earlier this month:
Mr. Obama said he had identified “an additional $313 billion in savings that will rein in unnecessary spending and increase efficiency and the quality of care,” bringing the total to nearly $950 billion. He did not offer a specific breakdown, but advisers said that in addition to the more than $200 billion in lowered hospital reimbursements, the president expected $75 billion in savings over 10 years by getting better prices for prescription drugs, and $22 billion in other savings.
Express Scripts is also concerned with driving out waste and guiding patients to the most cost-effective, clinically effective care. For example, we estimate that the country could save $42 billion annually from optimizing the use of generic medications. These are real savings that each of us can help realize immediately.
(Note: this entry originally appeared at consumerology.com)
