The Outrageous Cost of Health Care in America

submitted by: admin on 10/17/2013


We spend more on health care in the US than the next 10 countries combined and at the same time we're ranked last among industrialized countries. Go figure! The only way to "achieve" this is to treat health care as a business rather than a service. The $2.8 trillion we spend every year is great for the economy, but does not do much for our health. The average American family of 4 spends nearly $20,000 per year for preferred provider (PPO) plans.

Our hospitals are ripping us off! Their internal price list for supplies and services that is charged to Medicare and insurance companies is done with no logic except to make a profit. A good example is the cost for gamma globulin that costs the manufacturer about $300. The average sale price by hospitals after purchasing this product is inflated on the average to more than $2000, and some charge as much as $4,000! This only happens in the US. US hospitals make a lot of money! Their average operating profit margin is a staggering 12.7%.

The death grip of Big Pharma on price gouging is reflected by legislation passed by President Bush  that makes it illegal for Medicare to negotiate the cost of pharmaceutical drugs or to even purchase the lower priced drug if there is more than one on the market!

It is no wonder US healthcare costs a lot and delivers so little...

The Outrageous Cost of Health Care in America (Video)

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