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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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  • Well, 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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