(BSNS WIRE) Two-Thirds of CFOs Do Not Believe Medical Liability Reform Will Substantially Lower Health Care Costs According to CFO Magazine Survey
Business Editors
BOSTON--(BUSINESS WIRE)--March 1, 2005--
According to a new survey of 295 senior finance executives, only 29% believe that the Bush Administration's proposal to cap jury awards in medical liability cases will have much effect on health care costs. The survey also found that health care costs are a major worry for CFOs -- 78% are very concerned that these costs are harming profits.
The main action CFOs are taking in response is to shift health costs to employees through higher employee contributions to insurance premiums, higher co-pays, and increased deductibles. But only 20% think they can continue to shift costs to employees without harming morale.
The survey was conducted by CFO magazine in December 2004.
About CFO Publishing
CFO and CFO.com are owned by CFO Publishing, an Economist Group business. With a rate base of 450,000, CFO is the leading business publication for C-level and senior financial executives. CFO reaches an international audience of corporate leaders with its global group of magazines, including CFO IT, CFO Europe, CFO Asia, and CFO China. Each month, CFO.com reaches an audience of over 235,000 senior executives and provides a comprehensive resource center and strategic forum for online discussions. For more information, please visit http://www.cfo.com .
CONTACT INFORMATION: The Totenberg Group Jill Totenberg, 212-994-7363 jtotenberg@totenberggroup.com or CenterStage Communications Chris McManus, 718-832-9154 917-324-0808 cmcmanus@centerstagecomm.com