CLEVELAND, OH — February 21, 2006 — With employer health care costs expected to increase in a range from 6.4 percent to 12 percent in 2006, the cost and availability of health care continue to be an important factor when businesses decide where to expand or relocate their facilities.
For the fourth year, Expansion Management magazine is once again reporting how states stack up in terms of health care costs and availability. Expansion Management is a national business site location publication that is mailed to more than 45,000 CEOs, vice presidents, directors and other officers of companies that have indicated they are considering expanding into new geographic areas.
This year, Louisiana ranked No. 1 in Expansion Management magazine's 4th annual Healthcare Cost Quotient (HQ) rankings.
Louisiana was followed by Nebraska, Pennsylvania, Wisconsin and South Dakota. Rounding out the top 10 were Alabama, North Dakota, Minnesota, Iowa and Ohio.
“Lower health care costs to employers represent a major competitive advantage for states that score well on the Healthcare Cost Quotient,” said Mike Keating, senior research editor of Expansion Management Magazine. “The HQ is one way that Expansion Management educates its readers on how lower healthcare costs can make a positive impact on their bottom line.”
This year’s Health Care Cost Quotient (HQ) is based on data grouped into five major categories: health care facilities, health care providers, health insurance costs, health care provider costs, and malpractice insurance costs.
“With healthcare being such a major expense for today’s employers, companies engaged in the site selection process can save themselves some money by recognizing the fact that healthcare costs vary from place to place,” said Bill King, chief editor of Expansion Management.
“Businesses moving to a new area need to do their homework before they make relocation decisions,” said Mike Keating, senior research editor of Expansion Management Magazine. “Besides finding a location that offers reasonable health care costs, businesses will want a location that has high-quality health care readily available; that will help insure effective recruiting of needed workers.”
A copy of this year’s article (along with the results of the study), is posted on the Expansion Management website at www.ExpansionManagement.com and look under RESEARCH STUDIES.
2006 Healthcare Cost Quotient Results
Means the article is accessible only to our magazine subscribers.
