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Edited by M37h3w3:
3/4/2013 6:48:37 PM
6
I'm looking at the cover for the new Times magazine.
"One Acetaminophen tablet (Tylenol) costs 1.5 cents. Your hospital marks it up 10,000%."
My reaction: The -blam!-?
Why the -blam!- does hospital care cost so much? Specifically why is there such a -blam!-ing ludicrous mark up over what an item costs to make and what people are charged?
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1 ReplyHere is a link to the article (warning -- very long read). It's shocking, and every page you read will make you angrier and angrier. BTW, every point made in this thread so far trying to explain that these price markups are somehow reasonable is refuted soundly in this article. Probably best to read it before making any further points.
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10 RepliesEdited by Hylebos: 3/4/2013 7:54:42 PMSensational Title is Sensational. If something is marked up 10,000%, you can divide by 100 to see that it's really the same as it being 100 times more expensive. 1.5 cents * 100 = 150 cents = $1.50. That doesn't seem too terribly unreasonable right? Edit: I'm sure there's more evidence in the article that no doubt makes me look silly, so I'm willing to concede on this point.
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4 RepliesWell, the costs cover a lot of things. First among them is uninsured people flaking on their bills from the ER. The EMergency Room can not, by law, turn anyone away. No matter what. When they don't pay the bill, that loss gets spread to everyone else. The second reason are the negotiated rates for Health Insurance providers. The $0.015 that a hospital charges you $15 dollars for? The insurance company pays $0.0075 for. They can get away with it. So, when the hospital is getting shorted on the Insurance side, stiffed all together on the ER bills... They gotta get their money somewhere. That's why Single Payer was such a sexy solution. It hit two of the biggest problems straight out.
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Read the article. It took me nearly two hours, but it was an awesome -blam!-ing read.
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Edited by Mad Max: 3/4/2013 7:00:43 PMBecause they can, really. Precisely why healthcare and medicine should not be a for-profit industry.
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It's a mystery. There's a reason America's health care ranks so far below other Western nations.
