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Investor Presentaiton

U nderstanding the complicated factors driving health care spending trends is important if Rhode Island is to meet its cost growth target. Three years after clearer picture is emerging about where health care spending is high and growing quickly, and how COVID-19 has affected trends over the last few years. The transparency created by collecting, analyzing, and publishing health care spending trends has shone a light on what is driving spending and spending growth in Rhode Island. The data show that pharmaceutical and hospital services represent a significant and fast-growing portion of per capita spending on health care, where the greatest opportunities exist to slow spending growth and thereby improve affordability. In the coming years, addressing pharmacy and hospital spending will be key priorities for OHIC and the Rhode Island Health Care Cost Trends Steering Committee. That Rhode Island has met the cost growth target in the last two years largely due to the disruptions caused by COVID-19 illustrates the challenges in containing spending growth. Meeting this challenge will require sustained commitment from all stakeholders - including state and local governments, insurers, providers, businesses, and consumers - to implement new and creative approaches to deliver and pay for care in a way that enhances the value of health care. All parties must share accountability for making health care more affordable. Now is the time for all health care stakeholders in the state to commit to action and do our part to take all reasonable and necessary steps to keep annual spending growth below the target while maintaining high standards for quality and access. Containing spending growth... will require sustained commitment from all stakeholders... to implement new and creative approaches to deliver and pay for care in a way that enhances the value of health care. Annual Report: Health Care Spending and Quality in Rhode Island 25 25
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