Another industry starts unbundling its fees
If you’ve bought an airline ticket in the last couple of years, you’ve no doubt noticed the airline industry’s wildly successful profit-generating trick of à la carte pricing, or unbundling. On top of the base ticket price are charges for things that used to be inclusive: baggage, leg room, meals, movies, etc. Some budget airlines are even considering pay toilets on board. Oh, joy.
The health care industry is following the airlines’ lead as insurance companies continue to negotiate lower and lower reimbursement rates. Hospitals and other providers are finding new ways to break … Continue reading
Or whose best interests are being served?
It’s no secret that our health care system is filled with conflicts of interest.
That’s because, for the most part, the doctors, hospitals and insurance companies that are the framework of the system are for-profit businesses. Like any other for-profit industry, health care sells a product and encourages you (or your insurance company) to buy it.
A friend of mine had a recent experience with for-profit health care that she wanted to share:
In my opinion, anyone who has been told they “must” replace their orthotic inserts every year or every few years … Continue reading
Exploring the “unreasonable, unsustainable” and “immoral” costs of treatment
If you or a friend or a family member have been impacted by the outrageous price of cancer drugs ($100,000 or more/year), take 15 minutes to watch this segment from a recent episode of the news magazine “60 Minutes.”
Heck, watch it even if you don’t have cancer because everyone is affected by the skyrocketing costs of all drugs, not just those that treat cancer. Health care prices go up, health insurance premiums, deductibles and copays increase, and taxpayers pay out more for Medicare and Medicaid.
Related post: The cost … Continue reading
Investigating the high costs of health care
Over the last year, Elisabeth Rosenthal, a journalist and science editor for The New York Times, has written a brilliant series of articles titled Paying Till it Hurts:
In her series on the costs of health care, Elisabeth Rosenthal of The New York Times examines the price of medical care in the United States, interviewing patients, physicians, economists, and hospital and industry officials. In each installment, readers were invited to share their perspectives on managing costs and treatment.
I’ve been reading the series, and the truly shocking charging and billing practices she … Continue reading
It’s not that simple
Last night on the local news I watched a story about health care costs. The reporter, a consumer affairs specialist, talked about the expanding trend in health care of high-deductible medical insurance plans. Under the ACA, family annual deductibles can reach up to $12,700 (increasing to $12,900 for 2015); whatever your deductible, you pay your medical bills out of pocket until that deductible is met.
The uninsured, of course, just pay out of pocket.
Related post: Health insurance basics, part 1
The reporter encouraged us to
…take some time to research, and see what the
… Continue reading
Be a proactive patient
In addition to talking to my doctor friends, I spend a lot of time reading various doctor blogs because I want to better understand our health care system from their unique point of view.
The majority of those I read seem to agree with me that the industry has morphed into a giant profit-making machine—profits first, patients second. Many physicians write of their loss of autonomy and the ability to treat patients in a thoughtful, patient-centered and cost-effective way.
More than ever, they say, patients need to be informed and take control of their health care. … Continue reading
Are annual exams a waste of money?
Based on the most recent evidence, I would argue yes. I posted about annual exams a few months ago, and quoted the following from the Society for General Internal Medicine (a primary care specialty group):
Routine general health checks are office visits between a health professional and a patient exclusively for preventive counseling and screening tests. In contrast to office visits for acute illness, specific evidence-based preventive strategies, or chronic care management such as treatment of high blood pressure, regularly scheduled general health checks without a specific cause including the “health maintenance” annual
… Continue reading
What is health tourism and why Puerto Rico?
I read the other day that Puerto Rico wants to jump into the medical tourism ring and compete with those countries where it is already pretty well established, such as Mexico and Costa Rica.
Medical tourism, as the name implies, is traveling to another country to receive more affordable medical care.
[Puerto Rico’s] administration says that it commissioned a market study from which it deduces that medical costs on the island are between 40 percent and 60 percent lower than in the mainland U.S.
Such a move, if successful, could be a … Continue reading
This is another guest post from Kristen Reineke of CancerInsurance.com. I’ve written before about the ruinously high cost of cancer care, and although Obamacare limits out-of-pocket spending, deductibles and cost-sharing can still be in the thousands of dollars. Also, many associated expenses are not covered by insurance at all, such as transportation. Kristen has provided a great resource list for you or any one you know facing cancer treatment. FN
Cancer Care Resources
As if hearing the words “you have cancer” wasn’t bad enough, you soon come to find out just how costly cancer treatment can be.
Many … Continue reading