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.
Category: Policy & Legislation
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.
Doctors as Slave Labor
For many years Cuba has been sending doctors to practice medicine in other countries. Yet far from being a humanitarian exercise, Cuba has actually been engaging in human trafficking for profit.
Insulin
Before a Trump executive order, employers could not provide free or subsidized insulin to their diabetic employees without sacrificing the employees’ right to have a Health Savings Account. This meant that employees had to spend their entire health insurance deductible out of pocket before any employer cost sharing took effect. The Trump administration’s change leaves employers and employees free to engage in the kind of cost-sharing arrangements that make economic and health care sense.