Medical Costs

[imoldernu]

This article in the Chicago Trib caught my eye.

$21,000+ for 35 minutes in the hospital.

The bill for treating a gunshot wound: $21,000 for the first 35 minutes - Chicago Tribune

Food for thought.

 

[LARS]

Once had a conversation with an ER doc. He talked about how amazing the body's ability was to regenerate from (or compensate for) most health events. He did, however, opine that avoiding gun shots and car accidents were important as they constituted devastating outlier events.

Our conversation didn't venture beyond the medical into the $ aspects of gun shot wounds however... [emoji6]

 

[Blue Collar Guy]

Worth every penny in my opinion. For example, Im walking down the street, bang bang, BCG is shot. I see scenes from my childhood pass before my eyes, The "light" is shining on me, deceased relatives are calling my name. Modern medicine saves me. 30 minutes later "Im out of the woods" the bill 25 Thousand. Yup I tell them no problem if you want cash my wife will go get in now.

 

[Just_Steve]

Reads more like the ills of a sick society as opposed to medical cost.

 

[Blue Collar Guy]

Reads more like the ills of a sick society as opposed to medical cost.

Yeah, The BCG isnt walking fluffy late at night down a dark side street in Chicago.

 

[USGrant1962]

30 minutes later "Im out of the woods" the bill 25 Thousand. Yup I tell them no problem if you want cash my wife will go get in now.

And if you read the article you would see that you would have only paid $7,500! The headline is about "charges", but not too far in they say actual payment is estimated at 30% of the billed rate - for both insured and self-payers.

Charging rates in medicine are like MSRP in a furniture store.

 

[GrayHare]

Is $21,000 the "no insurance" price? One time a hospital sent me a $7000 invoice for some blood tests. When they figured out I had medical insurance, the price dropped below $500, paid by the insurer.

 

[Blue Collar Guy]

And if you read the article you would see that you would have only paid $7,500! The headline is about "charges", but not too far in they say actual payment is estimated at 30% of the billed rate - for both insured and self-payers.

Charging rates in medicine are like MSRP in a furniture store.

I didnt read the whole article, but 25K to save me is a bargain.They can consider my extra as a tip . We didnt include doctors in the tip poll. Now I can add them to the tip category.

 

[imoldernu]

Reading the entire article, puts an interesting slant on hospital costs in particular, and medical costs in general.
The part I find interesting is that the costs we hear about, bear little relationship to the actual costs, but rather dollars that show up in the individual bills which cover not the costs of medicines, bed/room cost, pay for the doctors nurses and attendants... but rather that the billing amounts are high, to cover the monies that do not come from the individual cases, but are inflated to cover the losses the hospitals incur for write offs and regulatory requirements (a wholly separate subject).

This is but a small subsection of the difficulties in developing a healthcare system that will be comparable in cost and efficiency of most of the other developed nations. Since 2000, U.S. healthcare (medical) costs have risen 87% while consumer prices have risen 18%.

No answers, and not submitted as a political matter, but as a personal concern for my children (now in their 40's to late 50's) and the effect of any poor health on their future security and happiness.

 

[CDRE]

Reading the entire article, puts an interesting slant on hospital costs in particular, and medical costs in general.
The part I find interesting is that the costs we hear about, bear little relationship to the actual costs, but rather dollars that show up in the individual bills which cover not the costs of medicines, bed/room cost, pay for the doctors nurses and attendants... but rather that the billing amounts are high, to cover the monies that do not come from the individual cases, but are inflated to cover the losses the hospitals incur for write offs and regulatory requirements (a wholly separate subject).

This is but a small subsection of the difficulties in developing a healthcare system that will be comparable in cost and efficiency of most of the other developed nations. Since 2000, U.S. healthcare (medical) costs have risen 87% while consumer prices have risen 18%.

No answers, and not submitted as a political matter, but as a personal concern for my children (now in their 40's to late 50's) and the effect of any poor health on their future security and happiness.

As pointed out by David Goldhill in his $0.99 digital book, "The Real Costs of American Health Care", we talk about high/low gas "prices" but in the healthcare marketplace, we talk about high/low healthcare "costs". Per Mr. Goldhill, "Our language reflects a different understanding from reality".

 

[Sojourner]

As pointed out by David Goldhill in his $0.99 digital book, "The Real Costs of American Health Care", we talk about high/low gas "prices" but in the healthcare marketplace, we talk about high/low healthcare "costs". Per Mr. Goldhill, "Our language reflects a different understanding from reality".

Sounds like a book I need to read. I am baffled (as I think many are) about the staggering disparity between healthcare costs in this country vs. the cost of other things. Of course I agree with others that I'd happily pay $21,000 for a 35 minute procedure to save my life from a gunshot wound, but there really seems to be absolutely no rational, straightforward justification for the stratospheric costs of many healthcare related services.

A few years back, I suffered a fall while hiking and was transported to a nearby hospital by ambulance. Several weeks later, I got a bill in the mail from the ambulance company for $1,500. My insurance eventually paid it, but I remember when I opened that bill and saw the number I almost laughed out loud. $1,500 for a 4 minute ride in an ambulance. It really seems like some sort of bizarre form of legalized extortion.

 

[marko]

My brother was charged $450 "mileage" by an ambulance to drive 1.5 miles. Insurance covered all but $50 but only after a $375 "adjustment".

I spoke to the ambulance company and they said that it's all a game. They charge an exorbitant rate, knowing that insurance will cut it down to a reasonable rate. If they charged the reasonable rate first, they'd get cut by the same percentage and end up getting well below the reasonable rate.

 

[Alan]

Thanks for the interesting discussion.