- In 2023, the U.S. spent $4.8 trillion on healthcare. As much as half of that massive expenditure, $2.4 trillion, paid for activities unrelated to patient care called BARRCOME – bureaucracy, administration, rules, regulations, compliance, oversight, mandates, and enforcement.
- Medicare physician payments declined substantially from 2001 to 2024 — a whopping 29%.
- Currently, physicians are the only Medicare providers who do not receive annual, inflation-based payment updates.
- Head of the International Longshoremen’s Association explains what the strike is all about, along with a video showing how dockworkers can be replaced by automation. (it’s a long way from On the Water Front.
- Cato study: Marijuana doesn’t make you crazy.
- An Elon Musk device is allowing the blind to see.
Category: Cost of Healthcare
Medical Debt isn’t Treated Like Consumer Debt
A dozen years ago my wife had a minor service performed at a hospital outpatient clinic. The hospital business office told her the service was covered by her health plan. Months later a man called claiming he worked for the hospital and requested payment of more than $700. This was news to my wife, who asked for an invoice. He wouldn’t provide one. My wife refused to pay without an invoice explaining what she was paying for. Another person called again weeks later, but he too would not provide an invoice. She was willing to pay but needed a list of denied charges to contact her health plan. She never got one and the hospital also never got paid. They stopped calling.
Medicare’s Bribe to Coax Part D Insurers Not to Raise Their Premiums on the Eve of the Election Will Be Costly For Taxpayers
Yesterday, the nonpartisan Congressional Budget Office (CBO) released its analysis of a newly announced Biden-Harris program intended to paper over the flaws of the so-called “Inflation Reduction Act” (IRA). Based on CBO estimates, this election-year stunt to artificially lower the cost of seniors’ Part D premiums will cost taxpayers at least $7 billion in 2025, including $2 billion in additional interest on our already ballooning debt. If implemented as planned, this program could cost taxpayers more than $21 billion over the three-year demonstration.
Source: House Budget Committee
Thursday Links
- A Fauci aide who taught a coworker how to destroy government records to avoid complying with FOIA requests is taking the Fifth before a congressional committee.
- The real issue in the port workers strike is not wages, it’s automation.
- Why McDonald’s burgers taste better (different?) outside the US.
- The nanny state: number of US counties in which government transfers are more than 25% of personal income.
- Humana tumbles as insurer faces $3 billion hit to revenue over lower Medicare star ratings (Statnews)
- Medicaid is no longer for the poor: Enrollment as a percentage of the U.S. population has more than tripled, rising from around 8% in the late 1980s to nearly 27% by 2022, while the poverty rate remained relatively stable.