[Cost]
Cost could potentially be the biggest factor of the iron triangle and perhaps the side of the model that leaves administrators most puzzled. With new technology being released quarterly, drug prices soaring, a new aging population that can't be supported by the current workforce, Medicare cutting reimbursement payments and leaning towards insolvency, and the price per service continues to rise it seems as if cutting costs down may seem impossible. Not only have hospitals and clinics began looking for more cost-efficient ways to provide care or, unfortunately which programs to cut, the political arena has been evaluating this as well. Since Obamacare has not lived up to its true potential and glory an alternative method must be identified before the nation's model of healthcare implodes from high costs. The National Health Expenditure Accounts officially tracks health care expenditures for goods, services, administration, insurance, and investment. (National
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Medicare pays 80% of Medicare beneficiaries medical expenses through Hospital Part A and Medical Part B and the beneficiary is responsible for the remaining 20%. The beneficiary then has the option to take part C which is supplemental private insurance to cover the 20% that Medicare doesn't cover. The final portion of Medicare is Part D prescriptions, which is mandatory for persons eligible for Medicare by age or disability in order to avoid the late enrollment penalty. This penalty was enacted to deter Medicare beneficiaries from opting out of prescription drug coverage to save money and later in the year be prescribed new medications and not have drug coverage, costing everyone more money in the long run. Medicare also pays up to 75% of drug costs and premiums for individuals that cannot afford their