Lt. Governor Wyman Announces Partnerships in Healthcare Cost-Containment Study
(Hartford, CT) - Lieutenant Governor Nancy Wyman, Chair of the state's Healthcare Cabinet, today announced that Connecticut will partner with four nonprofit health foundations to fund a study that will recommend ways to reduce healthcare costs. The Connecticut Health Foundation, the Universal Health Care Foundation of Connecticut, the Foundation for Community Health, and The Patrick and Catherine Weldon Donaghue Medical Research Foundation will provide a total of $190,000 towards the $363,450 study.
Lt. Governor Wyman said, "Connecticut is a national leader on the implementation of the Affordable Care Act-more than 700,000 residents have healthcare through our state marketplace. But, the high cost of care presents a very real barrier and can hinder access to care. These foundations are truly partners in helping us identify those cost drivers and ease the burden for consumers and providers. We are grateful for their commitment to a healthier state."
The report will examine how other states are working to reduce the cost of care and will make recommendations that address the rising cost of care in Connecticut. It is part of Public Act 15-146, comprehensive legislation enacted last year to facilitate a more competitive healthcare market.
Connecticut Healthcare Advocate Victoria Veltri said, "Healthcare cost and price disparities are a concern for every consumer. It's critical that we improve price and cost transparency to empower consumers to make better, fully-informed choices about their care. But we also need to contain healthcare costs while ensuring high quality healthcare. Government cannot do this alone-that's why this partnership is so important and so significant."
The Connecticut Health Foundation will provide $125,000 towards the study.
Connecticut Health Foundation President and CEO Patricia Baker said, "The Connecticut Health Foundation asks state leaders to remain open to what the findings and recommendations of this study may suggest. There is much to learn from other states that could be locally adapted to the benefit of the state budget and consumers struggling to afford needed care."
The Universal Health Care Foundation and the Foundation for Community Health will each provide $25,000 in funding.
Universal Health Care Foundation of Connecticut President Frances Padilla said, "To make bold and impactful change in health care, it's imperative that we explore ways to increase access to quality care and reduce cost. We're proud to support this much-needed study which will help us make informed decisions to set our state on a better path."
Foundation for Community Health (FCH) CEO Nancy L. Heaton, MPH said, "FCH is excited about the state's desire to identify strategies which will move Connecticut toward achieving the triple aim of improving access, quality, and cost of healthcare services. We have always believed that ensuring rural communities are both represented and informed regarding any statewide health policy plan lies within our mission and want to ensure that Connecticut's 'rural' voice and unique challenges are recognized and included in this work."
The Patrick and Catherine Weldon Donaghue Medical Research Foundation will provide $15,000 in funding.
The cost-containment study, conducted by Bailit Health Purchasing, LLC, will be submitted to the General Assembly by the Healthcare Cabinet by December 1, 2016.
Office of Lieutenant Governor Nancy Wyman