Does anybody think this is NOT outrageous and unacceptable regarding healthcare?
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You may have wondered.. just where does all that money paid into healthcare go? I bet you will not believe this.. but 30% of healthcare costs are just the BILLING!!!!!!!!!!!!!!!!!!!!!!!!! INCREDIBLE!
That is even more mind-boggling when you consider how astronomically high the healthcare costs are!
That means.. that one hour procedure on my dad combined with his 2 day stay in the hospital that cost $78,000… resulted in $23,400 in administrative fees! You can hire a whole lot of people doing data entry for $23,400.
Let's extrapolate that.. $23,400 in just administrative fees covering a 2 day hospital stay equals $8,541,000 in administrative costs per patient per year. The hospital my father went to has a capacity for 687 patients. If all those beds were filled all year long, that hospital would be raking in $5.9 billion per year in just administrative costs.. and if you add the other 70% for the actual healthcare.. that would be $19.7 billion for just that one hospital to operate for one year!One number I left out was the total healthcare costs per patient in that hospital per year... $28.5 million!
https://www.singlecare.com/blog/30-medical-bills-go-administrative-costs/
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I never expected such high costs for administrative costs by a country like the US..
:cheesy2:
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I never expected such high costs for administrative costs by a country like the US..
:cheesy2:
Especially now that just about everything is automated, paperless, and computerized.
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I wonder who the coward liberal is that keeps downvoting their enemies posts, but won't leave the shadows to comment.
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Lol. No it's not 30%. Obamacare put a cap on the medical loss ratio. Insurers can't spend more than 15% on administrative costs. However, your point remains. The administrative costs are too high and way too much of it is spent on billing.
This is why ObamaCare addressed some of these problems by creating the Financial Alignment Initiative and Accountable Care Organizations. It's still too early to tell if these programs actually save money.
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Lol. No it's not 30%. Obamacare put a cap on the medical loss ratio. Insurers can't spend more than 15% on administrative costs. However, your point remains. The administrative costs are too high and way too much of it is spent on billing.
This is why ObamaCare addressed some of these problems by creating the Financial Alignment Initiative and Accountable Care Organizations. It's still too early to tell if these programs actually save money.
Have you read this? https://www.singlecare.com/blog/30-medical-bills-go-administrative-costs/
But.. I would not be surprised if administrative costs are now 15% (which is still outrageous). Not because Obamacare reduced administrative costs.. but doubled healthcare costs overall… so what was 30% of 100% is now 15% of 200%
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I never expected such high costs for administrative costs by a country like the US..
:cheesy2:
Especially now that just about everything is automated, paperless, and computerized.
That's what you think! Healthcare providers are still using FAX machines!
