It’s a new year and many chiropractors are evaluating what will enhance their respective practices, particularly as it relates to their bottom line. One of the most common questions I get is: “Do I need to be credentialed to bill insurance, and what are the best plans to join?” It’s a loaded question – but one every DC ponders. Whether you're already in-network or pondering whether to join, here's what you need to know.
Annual Cost of Prescription Drug Use in the United States
The use of prescription drugs in the United States exacts an onerous and largely underappreciated cost of drug-related morbidity and mortality. These adverse events translate into a staggering expenditure of over $76 BILLION EACH YEAR:
Physician Visits - $7,459,744,000 (9.7%)
Additional Prescriptions - $1,933,121,000 (2.5%)
Emergency Room Visits - $5,320,723,000 (7%)
Hospital Admissions - $47,445,477,000 (62%)
Long-Term Care Admissions - $14,398,644,000 (18.8%)
With a price tag of $76 billion annually on prescription drug-related morbidity and mortality, it's hardly surprising that the U.S. leads the world in "health" care costs.
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SOURCE: Johnson JA, Bootman JL. Drug-related morbidity and mortality. Arch Intern Med. 1995;155:1949-1956.