President Barack Obama today said the government can save $313 billion over the next 10 years by forcing greater efficiency in Medicare, demanding better prices from drugmakers and cutting the number of uninsured Americans. Obama, in his weekly address on the radio and Internet, outlined the projected savings to help demonstrate that his plan to revamp the U.S. health-care system won't add to the deficit. “These savings underscore the fact that securing quality, affordable health care for the American people is tied directly to insisting upon fiscal responsibility,” Obama said. Obama's address and details of the cost savings were released to reporters last night with the understanding that they wouldn't be published until 6 a.m. today. The Wall Street Journal published a story on its Web site reporting the speech and the savings early this morning. The administration estimates $22 billion would be saved through such steps as adjusting payment rates for magnetic resonance imaging and similar procedures, as well as for skilled nursing and rehabilitation services and cutting waste and abuse. “These savings are rooted in the same principle that must guide our broader approach to reform: we will fix what's broken, while building upon what works,” Obama said. “This is the moment when we must reform health care so that we can build a new foundation for our economy to grow,” Obama said in his radio address today.
