Investigating Healthcare Costs in Colorado 2013–2019

A Deep Dive into Trends and Influences with CIVHC Healthcare Data in Tableau

The cost of healthcare is a critical issue that affects everyone in our society, from healthcare providers to insurance companies and, most importantly, patients. With healthcare costs rising consistently, it's essential for me to understand the factors driving these increases and how they impact the different aspects of healthcare.

In this blog post, I will summarize a comprehensive study I conducted on the factor analysis of healthcare costs in Colorado from 2013 to 2019. I will explore the influence of treatment types on payment types, the geographical effect on healthcare service costs, and the importance of this research for the different stakeholders.

I used data specifically requested through Colorado's CIVHC database. Analysis and visualization were done using Tableau.

Influence of Treatment Type on Payment Types

My study revealed that professional and inpatient care were the most expensive treatments. However, professional and pharmacy services are the two most expensive out-of-pocket services. Interestingly, inpatient care had the lowest out-of-pocket cost by a significant margin.

Over the years, total healthcare costs have risen, but out-of-pocket costs as a percentage of the total cost have been decreasing. The data indicates that time significantly determines total and out-of-pocket costs. However, external factors like government subsidies and supply-demand curves can also impact rising costs.

Geographical Effect on Healthcare Service Costs

My research found that total and out-of-pocket rates were higher in rural counties than in urban counties. Additionally, out-of-pocket rates were lower in urban counties as a percentage of the total cost.

The data also demonstrated that the margin between rural and urban healthcare costs decreases over time, indicating a trend toward equal costs between the two groups. Time was found to be a significant factor for healthcare costs, but external factors like government subsidies and supply-demand curves can also impact rising costs.

Importance for Healthcare Providers, Insurance Companies, and Patients

This research is crucial for healthcare providers, insurance companies, and patients because the growing healthcare cost burden can potentially devastate healthcare plans, patients, and providers. High costs could lead to unpayable medical debt for patients and a loss of revenue for providers and companies.

Unchecked rising costs would undoubtedly lead to an unhealthier population, as people would likely receive care less often. This information can serve as a starting point for government entities or healthcare monitoring organizations to conduct more in-depth research to determine what can be done to curb rising costs.

Future Research and Recommendations

Although my current study provided valuable insights, future research could improve some aspects. Firstly, including non-risk-adjusted data could lead to a more accurate analysis. Secondly, obtaining data from years before 2013 would be beneficial, as it would allow me to analyze the effect of the Affordable Care Act (ACA), passed in 2010. Lastly, finding a way to incorporate Medicare FFS data would enable a more comprehensive understanding of healthcare costs across different payer types.

Understanding healthcare costs and their trends is vital for shaping healthcare policy and ensuring that healthcare remains accessible and affordable for all. My study offers essential insights into the complex factors driving healthcare costs in Colorado, which stakeholders can leverage to make informed decisions.

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