Vice President, Biden announces support for hospital through a health care reform worth $155 billion dollars today. After a list of people involved in the health care reform, Biden goes on to say — Everyday you see first hand, the impact of the skyrocketing health care cost and the impact it has had on American families; and today we have come together to do something about those health care cost. Folks, reform is coming. It is on track and it is coming.

We have tried for decades to fix a broken system and we have never, in my tenure in public life, been this close. We have never been as close as we are today, and things remain on track. We have hospitals, pharmaceutical companies, doctors, nurses, health care providers working with us; and the American people behind us. And everyone sees that we need change and in my view we are going to get that change. And we are going to get it this year. (The greatest wealth is health — a quote).

Well, we are here today to make our health care system healthy again. A strong commitment from these hospitals represented here and others will be a big part of making that happen (health care reform). All around the country, people that have health insurance are still struggling to pay their bills, because they are under insured or their out-of-pocket expenses are rising so rapidly that they are have trouble keeping up. And those who don’t have insurance, because they have lose their jobs or have been denied coverage because of a pre-existing illness are throwing themselves at the mercer of the people who represent the major hospitals in the United States.

As a result, our hospitals are cracking under the weight of providing quality health care for Americans who lack insurance. The hospital industry knows, the people who are with me here today know, and the President knows that the status quo simply is unacceptable. Let me say that again, the status quo is simply unacceptable. Rising cost are crushing us. They are crushing families, businesses, state budgets, and it is crushing the health care industry itself.

Hospitals have acknowledge at significantly health care cost savings can be achieved by improving ineffective, and red lining incentives to improve the quality of care vs. quantity of procedures. And in the last several weeks, hospitals have been working with several important and key people to come up with a proposal to produce real savings (health care savings) in federal health care spending. Savings that will be applied towards the President’s firm goal of enacted “Health Care Reform” that is deficit neutral.

As part of the agreement (or, health care reform package) hospitals are committed to contributing $155 billion dollars in Medicare and Medicaid savings over 10 years to cover health care cost reform. These reductions will be achieved through a combinations of “delivery system reform”, and additional reductions in hospital’s annual updates.

All of these savings are based on policies that the administration has proposed and budgeted for “Health Care Reform“. As our system becomes more efficient, thanks to innovation, technology, and electric records we will slow increases to Medicare and Medicaid payments to hospitals.

To hear more from VP, Biden please review the video — Hospital Health Care Reform

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