25% of U.S. Health Care Spending Is Waste. Here’s Where to Find It.

October 8, 2019

  • October 8, 2019 at 1:18 pm
    FFA says:
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    How much money is wasted on that web site and the 1-800 pin head line?

    • October 10, 2019 at 6:10 pm
      Agent says:
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      Thank you Obamacare for ruining the health care system in this country.

      • January 20, 2020 at 9:51 pm
        Leiah says:
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        One must pay attention to reality in all things – especially when it comes to your health – and your wallet as well. “Obamacare” has little to nothing to do with it – nor does the Trump policy. The facts are that Physicians, hospitals, and other healthcare providers are “For Profit” industries. And those industries are there not for you, but for their shareholders. Of course, that can backfire – See Purdue Pharm for a blazing example of corporate greed over your health and wellbeing.

        Cui Bono, the Latin phrase meaning ‘who benefits,’ says, “Responsibility for an act or event likely lies with the person who has something to gain.” And healthcare is a voracious beast, eating up trillions of dollars – and reaching for more. This has resulted in astronomical increases in health care costs, from (sometimes deadly and/or unnecessary) medications, to unnecessary and dangerous surgical procedures, invasive and dangerous “tests” and a huge increase in patient deaths and health-care caused bankruptcy.

        Total health care spending in America was approximately $3.5-trillion in 2017 and about 32% of that amount — or $1.1-trillion — was spent on hospital services. Hospital costs averaged $3,949 per day and each hospital stay cost an average of $15,734. Cancer treatment spending can rise to over $400,000 a year for just the drugs. Covered patients can incur out-of-pocket expenses of $12,000 and more every year.

        Annual wasteful spending on healthcare is estimated from $760 billion to $935 billion. … The annual cost of waste from failure of care delivery is estimated from $102.4 billion to $165.7 billion. The annual cost of waste from overtreatment or low-value care is estimated from $75.7 billion to $101.2 billion.

        While one may claim that intellectual black hole popularized by Mark Twain in the United States, “There are lies, damn lies, and statistics”, Math Doesn’t Lie. A dollar is a dollar, a dollar plus a dollar is two dollars, and waste in healthcare is a shocking drain on the American Economy. In addition, while many claim that the only way to solve the issue is 100% private insurance, one must also understand that private insurance is not the answer for the majority of the US population who cannot afford it. In 2018, it was found that nearly half of all people in poor or fair health — or 46.4 percent — are either uninsured or have affordability problems despite having health insurance.

        As sad as this is in a supposedly “first world” country, one must also contemplate the overall outcome of this fact upon the country’s financial stability. In 2014, over 60% of the overall $26.3 Trillion Dollar Debt is due to bankruptcy from medical costs not covered, or under-covered, by insurance. This comes straight from the Congressional Budget Office of the United States.

        IT sounds ‘smart’ to say that we should make healthcare insurance private – but ‘pie in the sky’ thinking doesn’t beat out corporate greed mongering. Remember – hospitals are mostly non-profit – this means that they are very loosely regulated. I.e., they can charge what the want and get away with it.. Physicians are paid by pharmaceutical companies to peddle “New and Improved” drugs that are the same as the old (out of patent!) drugs that have only a small change in order to re-patent what was working fine before. Compare drug costs and the actual differences in formulation between the “new” drug and the “old” drug. It truly is shocking what pharmaceutical (and other) healthcare industries do for drugs – including faking FDA trials in order to market drugs they know beyond a shadow of a doubt cause side effects up to, and including, death.

        Be “Actually” smart. Do your research. Don’t follow the “party line” when it comes to what happens in the “Real World”. The bottom line is the all-mighty Dollar – and it is coming out of YOUR pocket.

  • October 8, 2019 at 6:31 pm
    PolarBeaRepeal says:
    Hot debate. What do you think?
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    There is no waste in the study; it is useful to argue against retaining ANY social insurance program that covers medical treatments. The solution is 100% private insurance, with perhaps some small subsidies via tax credits for the poor and prexers. The current plans being discussed, albeit infrequently now that ACA was not repealed thanks to John McCain, include several that rely 100% on private insurance providers.

    One key goal is to lower barriers to entry into their market places by medical providers, insurance companies, and to create tax-based incentives for providers, insurers, and citizens to lower costs via increased competition for business by lowering costs to the ultimate consumers.

    After making this statement, I expect opponents of private insurance; i.e. proponents of MediCare For All (but Congressmen), will ‘down vote & run’; i.e. down vote but offer no counter argument or meaningful, viable alternative plans.

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