WASHINGTON (Reuters) – The U.S. healthcare system is just as wasteful as President Barack Obama says it is, and proposed reforms could be paid for by fixing some of the most obvious inefficiencies, preventing mistakes and fighting fraud, according to a Thomson Reuters report released on Monday.
The U.S. healthcare system wastes between $505 billion and $850 billion every year, the report from Robert Kelley, vice president of healthcare analytics at Thomson Reuters, found.
"America's healthcare system is indeed hemorrhaging billions of dollars, and the opportunities to slow the fiscal bleeding are substantial," the report reads.
So funding the new health care system should be as easy as transfering funds, shouldn't it?
Read the whole article here.
In most industrialized countries the admin costs for hc run about 5% of the total cost. So in terms of US dollars that would mean that $5 of every $100 spent in hc, is spent on the admin cost.
In the US, $20 out of every $100 spent on hc is spent on admin costs. Yes, in this country we spend 4xs as much on PAPER work. Tha'ts a huge waste that must be eliminated.
The current system needs major reform. Insurance Co need to be put in check before true reform can happen.
Answer by Sisteract at 5:01 PM on Oct. 26, 2009
Answer by Anonymous at 2:52 PM on Oct. 26, 2009
Answer by older at 2:54 PM on Oct. 26, 2009
Answer by Anonymous at 3:05 PM on Oct. 26, 2009
Answer by Anonymous at 3:08 PM on Oct. 26, 2009
Everyone agrees we need REFORM. The problem is MOST people dont think the govt will be any less wasteful. I mean, look at their track record! There is BIG difference between reform and taking over.
Answer by momof030404 at 3:11 PM on Oct. 26, 2009
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Answer by grlygrlz2 at 3:58 PM on Oct. 26, 2009
Answer by Anonymous at 3:58 PM on Oct. 26, 2009