Statement on Medicaid Expansion Economic Impact Study
FOR IMMEDIATE RELEASE
March 10, 2016
DENVER, CO – Today, the Colorado Health Foundation released a report Assessing the Economic and Budgetary Impact of Medicaid Expansion in Colorado: FY 2015-16 through FY 2034-35. The report is an update to an analysis first performed in 2013, prior to the expansion of Medicaid. Below is a statement from Health Care Policy and Financing Executive Director Susan E. Birch MBA, BSN, RN. Birch oversees the Department that administers Medicaid and Child Health Plan Plus (CHP+) programs.
“This updated analysis is great news for Colorado and for the state’s economy. The new analysis shows the positive impact of expanding Medicaid. The new information is better than initial projections forecasted – more health care jobs have been created, state economic activity increased and average household earnings are higher than anticipated.
Healthy Coloradans can be more productive citizens. We are heartened by the many lifesaving and life changing stories of newly covered members. The expansion has been positive for all our health care partners – from doctors and nurses to hospitals and clinics by reducing uncompensated care.
Our focus at Colorado Medicaid has been and will remain on improving value for every dollar spent on health care. We have made significant progress in transforming Medicaid. As we have expanded Medicaid to cover more Coloradans that qualify:
- Our overall cost of care has flattened and health outcomes have improved.
- Our members are accessing needed preventive care.
- We continue to improve our health care delivery system to be easier to navigate while we improve efficiencies. In the last four years, our primary platform for care delivery has improved health outcomes while generating more than $285 million in gross savings.
Today’s report shows we have moved in the right direction economically too. When we expanded Medicaid, more than 90 organizations signed on to support the effort - from consumer advocates to providers, to education and business advocates and other partners. We will all continue to collaborate as we move towards the goal of being the healthiest state in the nation.”
About the Colorado Department of Health Care Policy and Financing: The Department administers the Medicaid and Child Health Plan Plus programs as well as a variety of other programs for low-income Coloradans who qualify. For more information about the department, please visit Colorado.gov/hcpf.