Health Care System Wastes Up To $850 Billion Annually, Report Says

Politics Daily:

According to a report by Thomson Reuters, the American health care system wastes between $505 billion and $850 billion every year, which is up to a third of the nation's total health care costs.

Read the whole story: Politics Daily

Comments

[JenniferHoffman]

Is the discovery that the health care system wastes money going to be used as an argument against a public option? What is the money 'wasted' on? What is waste? This is such a general statement and 'waste' is a vague word. One man's waste is another man's treasure (to coin a phrase). I would prefer to see the acounting results and see how this is being defined. Interesting that at a time when the public option (giving US citizens an option that puts private insurance comanies on notice) we are hearing that the government wastes money. When did it not waste money? Let's be fair here, we need transparency, not biased, inflammatory comments. Give us a detailed report so we can see what a $850 billion 'waste' looks like.

[VoteDemocrat]

How do we hold wall street accountable? NO matter what Obama & his team tires to do the bankers always find a way to evade it.

as stated by http://financeopinionss.blogspot.com it is time to create economic growth that we can all benefit from; not the top 1% of earners. An equitable economy is a better one.

[USA2Sense]

No stit Sherlock! And it's condoned - and there's no oversight - and no one cares......

And those of us who do care - can do nothing about it......

Except - take care of our health and do everything we can do to prevent illness ----- the AMA in this country and the pharmaceutical companies only promote - curative medicine - they do not acknowledge, promote, or counsel - preventative medicine (as they do in Europe and have for decades)..­....becaus­e it would cut into their profit margins..

So....the best revenge for Americans - is to stay healthy, to keep those around us healthy, try to do everything you can to stay healthy - and the heck with the AMA and friends!!

[loki]

they dont see it as waste. They see it as low investment profits.

here is on good scam. Hospitals build more rooms, to put in more beds. The more beds, the more per bed price medicare pays. Even though they would never even fill 1/3 of the beds they install, the money they make from increased medicare payments more than pays for it. go figure.

[spaceship4theking]

End the war in iraq. End Guantanamo. NO more tax haven for the rich. NO more bailouts.

Reinstate COLA. Pass another stimulus designed specifically for JOB CREATION

good articles; http://financeopinionss.blogspot.com

Obama please reform heath care and get unemployment benefits passed ASAP

[nippyfan]

I know they certainly waste money and trees on paperwork. I keep getting "bills" that aren't bills, because my insurance company has paid the cost. A wast of time and energy. I don't need to see a "Bill" that's not a bill.

[loki]

My doctor once explained this to me. He was in the middle of changing billing services due to this very problem, so I guess he was feeling mislead and wanted to vent. Basically billing companies charge for each notice they send out. Its pretty much automated so the real cost is very low. But they charge the doctor around $3.50 for each billing letter mailed out. So every time the computer updates the patients account, it fires off another letter. They dont wait for the full bill to be computed or settled by insurance before sending a bill for the actual amount owed , or not owed. They just spit out letters every single time something is added or subtracted to the patients bill. So instead of 1 or 2 $3.50 charges, the doctor gets 20 $3.50 charges. There is always a scam when it comes to Ivy Greed Capitalism. Thats what they mean by " what the market will bear".. How much can you screw the customer before they refuse to do business anymore. .

[nippyfan]

outrageous

[kurtvb]

But as Republicans keep telling us, if we let the market just run itself every thing will be peachy. Billions in waste, theft from the taxpayers, inefficiencies, these are the things that the market has given us. $850 billion in waste a year. Most of this, if not all would be fixed with a nationalized health care system like the UK. Not perfect, but we could make it better. Just get the profit mongers out of the system

[PhilipTaylor]

This looks like one of those AHIP Reports but a Lot more clever than the LAST ONE!

Trying to shift BLAME away from the Corporate CR00KS who Contribute to a LOT OF THIS!

American Health Care System wastes $505 to $850 billion/year =1/3 of Total Cost

"America's health care system is indeed hemorrhaging billions of dollars, and the opportunities to slow the fiscal bleeding are substantial," said Thomson Reuters Report

Several key areas of inefficiency:
1. Unnecessary care = overuse of antibiotics & lab tests 37% of waste.

2. Fraud = 22% of waste = False claims+referral kickbacks + other scams.

3. Administrative inefficiency and redundant paperwork = 18% of waste.

4. Medical mistakes 11% of waste

5. Preventable conditions such as diabetes.

So a STRONG PUBLIC OPTION in Health Care Reform is PAID FOR! Thanks AHIP!

[Ranta]

-- Unnecessary care, such as the overuse of antibiotics and lab tests, to protect against malpractice exposure makes up 37 percent of health care waste.

To protect against malpractice? What about the cozy deals where doctors are entered in "studies" if they use the new drugs of some company.Ofter older drugs are just as good. A nice way around kickbacks. What about the hospital administrator who goes to the docs and says , "I'll buy you the latest new scanner but you better make sure enough scans are ordered". What about the docs that are too lazy to do simple basic examination and instead order every test in sight.
There are lots of reasons besides malpractice.

[sarabono]

Well if you could stop this waste, you would no longer have to raise all these taxes in order to pay for the health care proposal that is supposed to save us money.

[ibsteve2u]

Electronic and thus easily shared records? Say what?

Then how will America's more...ine­pt...docto­rs "tidy up" their patients' records before they respond to a records request from a better doctor?

Or a lawyer?

[sposton]

I believe they are wasting a lot more than that.

[schatsie]

I beg to differ with those as real causes

It is not unnecessary care, it is overcharges for care for antibiotics and lab tests, we are probably paying 100% more than any other country for the same things and the utilization is probably the same...
-- Unnecessary care, such as the overuse of antibiotics and lab tests, to protect against malpractice exposure makes up 37 percent of health care waste.

Fraud what is that, over billling or double billling because God ONLY knows what is going to be paid for.... There is fraud in any healthcare system, thing is in our country it is legal for the health insurers to gouge premiums and the hospitals and providers have excessive charges as well.
-- Fraud makes up 22 percent of the wasted expenditures, or up to $200 billion a year in fraudulent Medicare claims, kickbacks for referrals for unnecessary services and other scams.

Agree with this Admiinistrative inefficiency and redundant paperwork account for 18 percent of waste.

Even in Canada they have medical mistakes, but the malpractice is 1/2 of ours...
-- Medical mistakes account for $50 billion to $100 billion in unnecessary spending each year, or 11 percent of the total.

Heck, there are preventable conditions all over the world, get over it... Seriously consider real vacations and real health care for all of us, that would releave some stress and prevent almost a million foreclosures a year...
-- Preventable conditions such as uncontrolled diabetes cost $30 billion to $50

[investingonline]

where are the unemployment benefits we need?

he's right: http://finnanceopinionss.blogspot.com

./

[rad21]

The Rand study found only 40% of healthcare, that was delivered, was necessary and appropriate. The rest was over-treatment, under-treatment and inappropriate treatment. Here we have the "waste, fraud and abuse" by PROVIDERS (hospitals and doctors).There is "waste, fraud and abuse" by INSURANCE companies. Their 15-30% overhead cost has little to do with delivering care.

Politicians complain about the "waste, fraud and abuse" and then complain about the fiscal-cuts to prevent the "waste, fraud and abuse". Now how can the same persons talk both-ways and get away with it? Are these political guys and gals "Stuck on Stupid"? Or are we the electorate just enamored watching the Democrat-Republican puppet-show; whose strings (attached to both sets of puppets) are pulled by the healthcare industry and lobbyists, greased with campaign contributions?

Large "waste, fraud and abuse" is using healthcare­-premium-d­ollars for campaign contribution and lobbying. How come politicians do not discuss this aspect of "waste, fraud and abuse"? Healthcare­-insurance industry spent 250 million dollars, in the last six months alone, on lobbying and campaign contributions.

I agree with Democrats in congress that even 10% over-head cost for health-insurance and hospitals is too much. Perhaps here is where the govt (Republicans and Democrats) should start with in cutting out the waste, fraud and abuse in healthcare.

[schatsie]

You find out about the Fraud and Abuse departments at the insurers and you will laugh,,,,they are about as effective as the SEC and the Fed.....because well there are reasons and none of them are good.....

[truthbagger]

Doctors are compensated based on how many procedures they perform. Our perverse compensation system of course leads to massive quantities of unnecessary procedures. Do the math. We need to put Doctors on salary instead of paying them on billable procedures.