Summary
Avalere recently partnered with Third Way to estimate the cost savings of advancing the use of medical decision aids for Medicare beneficiaries, which would allow for shared decision-making between physicians and patients in preference-sensitive care.The policy recommends that the use of decision aids be standard medical practical practice starting in areas where cost-saving potential has been documented. The report proposes five key strategies:
- Create a verification process where health plans report on whether patients were offered decision aids in their decision-making process
Establish federal standards for decision aids
Require health professionals with substandard use of decision aids to seek pre-authorization of payments for services affected by decision aids
Engage health professionals in the shared decision-making process and use of decision aids through CME and medical school curriculum
Reform state informed consent laws to reflect that shared decision-making and the use of decision aids is the standard for valid informed consent.
In the instance of diabetes, the report found that this proposal would decrease federal spending by $5.6 billion over the 2014-2025 federal budget window. This amount reflects a combination of an estimated $10.5 billion in new spending on the diabetes prevention program and screenings initiatives offset by an estimated $16.1 billion in savings from fewer Medicare beneficiaries diagnosed with diabetes over the next 10 years.
Download the report for the full findings.
