MADISON — Wisconsin Manufacturers & Commerce released the second episode of its limited video series based on WMC Foundation’s Wisconsin Competitiveness Report — highlighting the challenges facing Wisconsin’s economy and what it will take to move forward. In the episode, WMC’s President/CEO Kurt R. Bauer and Associate Vice President of Government Relations Rachel Ver Velde break down the causes and effects of Wisconsin’s out-of-control healthcare costs and how they are one of the leading causes of the state’s affordability crisis.
“Rising healthcare costs are not only a competitiveness issue; they’re also an affordability issue. If you have concerns about costs—whether that be food, gas, et cetera—healthcare is one of them as well. We’re seeing patients in Wisconsin delaying care because they don’t know what the costs will be. Healthcare is the only service or good where you don’t know the price before the service or good is provided, and that’s wrong. There needs to be transparency in healthcare.” — Rachel Ver Velde
The episode highlights Wisconsin’s high cost burden, with the state ranking second in overall healthcare costs, fourth in hospital costs, and first in workers’ compensation medical expenses—pressuring employers, workers, and families alike. Bauer and Ver Velde point to key reforms to address the issue, including improving price transparency and strengthening the medical fee schedule within workers’ compensation.
“I can’t think of another industry where the price list is not available ahead of time so that customers can make informed decisions. You have to be able to look at the cost and quality of the service in order to be a consumer in healthcare. That will drive down the prices.” — Kurt R. Bauer
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