10th World Congress on Health Economics, Health Policy and Healthcare Management
London, UK
Ashoke Bose
M. L. Bose Memorial Health Foundation, Inc., USA
Title: Economics of P2P healthcare payment strategy: An analysis of annual reports of a member of trinity health systems
Biography
Biography: Ashoke Bose
Abstract
An innovative algorithm for finding pairing members in a P2P healthcare payment network was proposed by the author in 2020. It has been claimed that the proposed P2P payment platform could eliminate the high administrative cost of the commercial health insurance system in USA. This could be accomplished by allowing the Patients without Insurance (PwI) to have access to a Primary Care Provider (PCP) in an early stage of their illness. By having access to a PCP at an early stage would prevent the PwI population from revisiting Emergency Room (ER) services in a community hospital. Further, this P2P strategy, if adopted by the community health systems, would reduce the economic stress on the health systems by lowering the cost of ER services due to reduction in ER visits by PwI population.
In 2021-2022, the author had the opportunity to work at St. Joseph’s Health (SJH) in Syracuse, NY, a wholly owned member of Trinity Health. An investigation was carried out by analyzing the publicly available Annual Reports of SJH before and during COVID to determine the feasibility of spending part of the Annual Expense budget, which is commonly known as “charity care”, for the proposed P2P healthcare payment strategy. A preliminary report on this investigation is presented in the paper.