Saturday, November 11, 2006

Economics lesson about healthcare

My mother went to the Docter yesterday. She has been seeing this Docter for many years...

She had to wait for 90 minutes because her Doctor was running late.

She ended up spending 5 minutes with a nurse and then another 5 minutes with the Doctor. No tests were taken and nothing special happened.

The total bill was $120.

That is what is wrong with the medical system in this country.

This bill will end up being paid by Medicare and by my mother's supplemental insurance policy.

Consumers have been taken out of the loop. There is no incentive to argue about the bill or to shop around since Medicare and supplemental insurance will pay for it...

Economics 101...

Any questions?

Mike Sylvester

4 comments:

Tim Zank said...

Elementary, isn't it?

James Fitch said...

My wife just had a blood test. The lab billed the insurance company $252.50. But after the insurance company took its network saving of $209.30, they only paid $43.20.

A $252.50 bill is realy a $43.20 bill.

Andrew Kaduk said...

A couple of years back I had surgery on my head (I know I'm totally opening the door for Craig here...). The hospital bill was $2980 to remove a small cyst from under my scalp. My co-pay plus deductible came to about $800 "out of pocket." The insurance company, after they negotiated on the balance paid the hospital about $400. Cute, huh? Kinda makes the $80 per week in premiums for the two years prior to the surgery look like kind of a ripoff, no?

LP Mike Sylvester said...

James:

That is true unless you do not have insurance and are paying cash...

The system is BROKE...

Mike Sylvester

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