Few hospitals in the United States have any idea what their costs are to perform various surgeries. The second most common surgery in U.S. hospitals after those related to childbirth is knee replacement. The price is more than $50,000 at Gundersen Health System’s hospital in La Crosse, Wisconsin. The facility has been systematically raising the price of knee surgery about 3% every year. None of administrators had any idea how much was profit and how much was the cost of nursing care, labor, overhead, supplies, etc. Gundersen, like most U.S. hospitals, didn’t know the cost because they do not face still competition and are not competing on price. Unlike most U.S. hospitals, however, Gundersen set out to find out its cost.
Author: Devon Herrick
Medicare Drug Prices Change Frequently, Seniors Should Learn about Options
An article by Kaiser Health News explained that Medicare Part D drug plans can change individual drug prices and/or cost sharing soon after open enrollment closes. For instance, a recent analysis by AARP found that about a month after Medicare drug plans went into effect, prices had risen by 8% on 75 of the most frequently used drugs. Seniors who select a plan specifically for its price on a given drug are likely disappointed when prices rise, or copays increase. Yet, once in a plan seniors cannot switch to another plan until the next open enrollment period at the end of the year.
Obamacare (and Hospitals) Increased Medical Debt
Medical debt is the most common third-party debt collections listed in credit reports, at 58% of debt in collections. There are no reliable estimates of the number of patients sued or exposed to debt collection harassment, but it could number into the hundreds of thousands each year.
Get Your Medical Care at the Mall while Shopping
Many malls are struggling financially because Amazon and other online retailers have taken away business from brick & mortar stores. The pace accelerated with Covid as non-essential retail locations faced a lockdown. However, some struggling malls are finding a new life as medical facilities.