In the April issue of Health Affairs, a group of authors explored the cost-containment strategies and four “high income countries“, and try to see what they were doing that we are currently not doing in the United States. The first picture below, shows all five countries and reveals that, over the last 10 years, only…
Once again, lots of reports in the news about crazy variation in hospital prices in the United States, with thousands or tens of thousands of dollars difference in the price of services from one hospital to its neighbor across the street. Marketplace did a nice report on this issue recently, including an interview with yours…
There is one thing that politicians on both sides of the aisle agree upon: the biggest threat to the future fiscal solvency of the United States is Medicare, the program that pays medical expenses for elderly and disabled Americans. For many years now, the Medicare budget has been growing much faster than the economy as…
It’s comforting to think that most healthcare problems in the U.S. could be solved by letting the power of an unregulated free market do its work. It’s also wishful thinking and overly simplistic, according to Peter Ubel, MD, a general internist, behavioral scientist, and Duke University public policy professor who blogs for Forbes and The…
Any effort to rein in health care costs needs to account for this graph, showing what percent of medical expenses attributed which group of patients. (Martin Gaynor posted this picture in a recent blog.) I use another version of this in my teaching: Either way, what we have here is an AMAZING concentration of spending….
In a recent Washington Post article, Sarah Kliff reported that “Cancer clinics across the country have begun turning away thousands of Medicare patients” because of reductions in reimbursement caused by the sequester. Specifically, oncologists will no longer be able to markup the price of chemotherapy by 6% “to cover the cost of storing and administering” the drugs….
Getting your appendix out can cost between $2,000 and $180,000. Hip replacements run from $10,000 to more than $100,000. Hospitals, we have also learned, frequently mark up the price of cotton swabs and routine X-rays by 300 or 400 percent, with most patients oblivious to the reason their health care bills are so large. As a response to…
Here is a very interesting picture from the Atlantic website, charting the unpredictability of healthcare costs. The picture was put into the article in large part to point out how hard it is to estimate how much healthcare costs will grow over time. And certainly, the up-and-down roller coaster like quality of this picture is…
According to a CDC study, about 1/3 of American families either struggled to pay medical bills in 2011 or outright couldn’t pay them! Not surprisingly, this problem is especially big for people with limited financial resources: Just another piece of evidence in favor of something I’ve been talking about lately when giving public lectures: that…
When Johnson was pushing congress to establish the nation’s first real health care funding, many legislators, especially conservative southern Democrats, balked at the cost. Johnson was well aware that Medicare would be costly. But he thought health insurance was too important, in reducing poverty among elderly people, to let costs get in the way. He…