I wish more people were asking “why does the hospital charge such absurdly high fees?” instead of “why is Blue Cross trying to not pay those absurdly high fees?”
replies(5):
I wish more people were asking “why does the hospital charge such absurdly high fees?” instead of “why is Blue Cross trying to not pay those absurdly high fees?”
This. Even if you eliminated all profit margins of insurers you only decrease medical costs in the US by a tiny fraction, still leaving you far worse off than in other countries. They suck, but they're a cheap scapegoat for simpleton populists who don't know or don't want to fix the actual problems.
https://www.noahpinion.blog/p/insurance-companies-arent-the-...
> Even if you eliminated all profit margins of insurers you only decrease medical costs in the US by a tiny fraction
This is completely wrong.
A general practicioner doctor is unlikely to be making much more than 300K, or $144/hr. But my visit to said doctor costs $450 for 15 minutes, or $1800/hr.
Many people are making a fortune out of the system, the money is not going to the person doing useful work, the doctor. Where is the other $1656/hr disappearing?
Eliminate all those grifters from the loop and I could go see this doctor for $36 per 15min visit. Heck I wouldn't even need insurance, I can pay that out of pocket.
Sure, I'm ignoring rent/utilities/supplies, so it'd be a bit more than $36 but those costs are a tiny percentage. In any case it'd be less than $50, far below the current $450.
> The doctor's practice or hospital gets the extra $1656, from the insurer.
No, they don't.
Insurance pays out their negotiated rate of like $100 for that 15 minute appointment. (Which likely has some pre- and post-appointment work involved. My doc has clearly at least skimmed my chart prior, and I get a written note later. I'm also seen by a nurse initially.)
The rates have to be obscenely high on paper so the insurer gets their big win negotiating.
The rest just... evaporates. https://imgur.com/a/X5oLXgr