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Then what are driving up costs? It's not technology since technology is supposed to be a cost saving mechanism. It has to either be healthcare professionals or billing innovations.
Then what are driving up costs? It's not technology since technology is supposed to be a cost saving mechanism. It has to either be healthcare professionals or billing innovations.
Technology does not save money. It creates demand to use the tech. That costs money.
Take appendicitis for example. In the past it was diagnosed in large degree just by physical examination of the patient. These days, the patient gets a CT scan.
The old way resulted in some patients without appendicitis having appendectomies. The CT scan allows a more precise diagnosis, but it costs more.
Some tech saves money, but not all of it.
Billing generated by EHRs can increase charges. Practices can capture some money that they were leaving on the table before by better documentation of what was done for the patient, but that is not a big factor.
This is just another variation of "let's point our fingers at our neighbors instead of corporate greed" no different than "it's those overpaid teachers fault my taxes are so high!". Health care costs are high because health care corporations, which encompasses most big hospital systems, are beholden to shareholders and profits just like any other big corporate business, and that is their priority. The profit margin in health care is huge, prices don't have to be as high as they are any more than car prices need to be as high as they are. They charge what the buyer will pay, period. Yes, I do work in health care, btw.
Pretty much all licensed professionals in the health industry drive up costs. It's not just RNs.
Administration is a big cost factor. Delivery of care isn't their job. Billing and delivery of the bill is their job.
I think under the Affordable Care Act, there may be a provision that only 15% of proceeds may be used for administration.
Healthcare costs are one of the leading topics of discussion, riddled with all kinds of suggestions and proposals, none of which address the root of the problem which is high labor costs, particularly RN salaries. I know I'm stepping on toes with this topic, given the high number of RNs who probably visit this site.
However, the fact is Nursing salaries have been artificially propped up by this man-made shortage perpetuated by the silly entrance requirements and waiting lists in community college programs. I'm not talking about basic standards (those are needed). I'm talking about silly prerequisites like English classes or math even for those with bachelor’s degrees in other fields. Also, community colleges need to create more slots to accommodate the big waiting lists. That alone would basically end the so-called nursing shortage which has driven up nursing salaries to unsustainable levels. Yes, some will argue they're worth it but the salaries are just as unsustainable to hospitals as assembly line workers making over $60/hr was unsustainable to the auto sector which had to be bailed out.
No. RN salaries in Germany are about the same as here in he US but the medical costs are much lower (roughly 20% of stateside costs for a given medical procedure by my estimate - yes you read correct 5 times cheaper). The reason for this is government sets prices. In the US we allow for the luxury of providers setting prices in a price inelastic market. This will automatically cause ever-escalating costs as any supplier in a price inelastic market seeks to rise prices until the elastic part is reached. However in health care that will not happen. Example: my daughter requires emergency appendix surgery. The cost is say $40k. Would I seek the procedure just as much if costs were say $80k or $500k? Of course I would as her life depended on it. It's a textbook example of a price inelastic market. As long as we allow providers to seek the non-existing elastic part of the price curve prices will ever escalate. We are already spending about 20% of GDP on health care. If we continue like this we'll be at 50% soon and still not see an end to price escalation. The only solution to this is government setting the prices in health care. Germany spends less than 13% of GDP on health care for this very reason and people are just as well cared for.
Actually it's the insurance companies that are driving up insurance costs. States that passed laws to limit your ability to sue for medical malpractice, have seen there insurance rates increase faster than other states that haven't passed such laws. You would think costs would go down, but in reality, the insurance company is making HUGE profits and are driving up rates to make more PROFITS. We would like to believe the insurance companies would do the "right" thing and lower rates when there expenses fall, but there's nothing to force them to do so. Perhaps the solution is to eliminate private insurance companies all together, if there is so much money in it, surely a government non-profit malpractice insurance entity can collect premiums high enough to cover costs, but low enough to drive the cost of health care down.
It's nice (and rare) to see someone who knows what s/he is taking about in this regard. Managed care organizations suck the time and money from healthcare to themselves.
It's nice (and rare) to see someone who knows what s/he is taking about in this regard. Managed care organizations suck the time and money from healthcare to themselves.
The poster seems to be referring to malpractice insurance not health care insurance. Two different scenarios.
How is it that 50,000,000 food stamp recipients can create only $4billion in fraud annually while 800,000 doctors & affiliated corporate entities can create between 5 and 30 times as much without notice?
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