A History of Healthcare Costs in One Picture
Thanks to Josh Grey for the image.
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Finally: Something Republicans and Democrats Can Agree On
The United States Medicare program is forbidden, by law, from negotiating with pharmaceutical companies. This was part of a negotiation that was reached at the time that the government, under the leadership of George W. Bush, created Medicare Part D, to cover prescription benefits for Medicare recipients. The pharmaceutical industry was quite worried that government…
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Why Are Investors Running Away from Medical Devices?
Sabin Russell wrote a great piece in Health Affairs recently, on the drought in investment to develop new medical devices. Read it if you have access. If you don’t, here are some of her main points. 1. Venture capital for device manufacturers has been drying up for a while: “‘For five years, this industry has…
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The United States of Short Hospital Stays
We spend more for medical care in the United States than just about anywhere in the world, but it’s not because people in this country get admitted to the hospital and stay for long periods of time. Instead, we have shorter length of stays in American hospitals than in the vast majority of developed countries…
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Here’s the Medical Care People Skip Because of Cost
According to a report from FamiliesUSA, an organization advocating for improved healthcare coverage, these are the medical services people forego when money gets tight:
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Houston (and the Rest of the US Healthcare System): We Have a Price Problem
Want to know why we spent so much on healthcare in United States? There are lots of reasons. Our population is aging, the rate of diabetes is rising, and the healthcare industry keeps developing wonderful but expensive new technologies to treat our ailments. But more than anything, we have a price problem. It’s price increases…
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At Risk of Financial Ruin
According to figures from the Kaiser Family Foundation, one of the best sources of reliable health policy information, the majority of Americans will have to exhaust all their “liquid assets” to cover medical expenses, if they reach the maximum out-of-pocket costs allowed by their health insurance. The moral of this story is simple: stay healthy!
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Cancer Drugs Aren't As Cost-Effective As They Used To Be
Cancer drugs have become increasingly expensive in recent years. No one blinks anymore when a new lung cancer or colon cancer treatment comes to market priced at more than $100,000 per patient. In part, we don’t blink because we have simply gotten used to such prices – the shock has worn off. Moreover, many of…
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Want to Pay Higher Prices? Try a For-Profit Hospital!
If she had been eligible for Medicare, the hospital would have charged the government $10,000 for the services it provided to her, with Medicare picking up most of the tab. But lacking insurance, she was billed directly from the hospital, and not for a mere $10,000. The total charge: $120,000! That 1200% markup is extreme….
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What's a Fair Price for a Medication?
Greedy pharma execs have been in the news of late. Here is a story on the topic, from Wired. The reporter misquotes me. I never said Apple could make profits selling iPhones for $10. I said that even if they could profit at that price, they’d be crazy to do so if people would…