Healthcare Associations Commit to Reducing Healthcare Spending Growth

Healthcare provider and manufacturing associations sent a letter to Pres. Obama this week vowing to cut healthcare spending growth by 1.5 percent (a 20 percent decrease in expected rate of growth) over the next decade to achieve an estimated $2 trillion in healthcare savings.

Leaders from the American Hospital Association, American Medical Association, America's Health Insurance Plans, Pharmaceutical Research and Manufacturers of America, Advanced Medical Technology Association and the Service Employees International Union committed to administrative simplification, better coordination of care, reducing the cost of doing business and discouraging over utilization of services.

"We are determined to work together to provide quality, affordable coverage and access for every American," the association and union leaders said in the letter.

Read the healthcare spending growth letter.

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