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Fed Up with Drug Companies, Hospitals Decide to Start Their Own

nytimes.com

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Re: Fed Up with Drug Companies, Hospitals Decide to Start Their Own

#21

Post by jjoonathan »

programmingpol wrote: post #3
maxxxxx wrote: post #2

I am not sure if patients will see any of the savings though. I view hospitals as fundamentally dishonest organizations after a few experiences. Their medical treatment is fine but their financial practices are borderline fraudulent.

Some, if not most, of this is a result of the insurance system. The insurance companies only pay x% of any given item, therefore the hospitals have to jack prices through the roof to collect enough to survive. The problem with our healthcare system is that too much money goes to drug companies, medical device makers, and insurance companies and not enough makes it to the people actually providing the care. Its a bit…

Hospitals are every bit as cynically abusive as the other players. They ratchet up prices as high as they can get away with while blaming insurance companies, the only party in the system with enough leverage to negotiate prices down, they demand huge kickbacks before giving drug companies access to patients (the #1 cost in drug development) and put gigantic markups on drugs they give to patients while pretending drug companies are the sole responsible party for high drug prices, they act like non-profits when asked to pay taxes but for-profits when they decide on executive compensation or location strategy (i.e. close hospitals in poor neighborhoods, open in rich neighborhoods), and they house a guild that has had such diabolical success in "managing" its training pipeline that it publicly condemns the policies it itself put in place to do so.

In general: If you ask the insurance companies who the problem is, they point at hospitals and drug companies. If you ask hospitals who the problem is, they point at insurance companies and drug companies. If you ask drug companies who the problem is, they point at insurance companies and hospitals.

If you look at patient costs in the three sectors compared to other countries, you see a remarkably even division of the spoils between the three heads of the beast.

Re: Fed Up with Drug Companies, Hospitals Decide to Start Their Own

#22

Post by mirimir »

maxxxxx wrote: post #2

I am not sure if patients will see any of the savings though. I view hospitals as fundamentally dishonest organizations after a few experiences. Their medical treatment is fine but their financial practices are borderline fraudulent.

Well, some hospitals are honest, and dedicated to patient care. And some are dishonest, and only in it for the money. But whatever, none of them are as evil as most drug companies.

Re: Fed Up with Drug Companies, Hospitals Decide to Start Their Own

#23

Post by pstuart »

TrainedMonkey wrote: post #17
pstuart wrote: post #6

Here's a great analysis of the overall problem: http://truecostofhealthcare.org/

This site is sluggish on a pretty beefy laptop. edit: Using Google Chrome Version 63.0.3239.132 (Official Build) (64-bit)

Definitely a pause in loading, however, it's worth the wait.

It's my doctor's site, I'll let him know.

Re: Fed Up with Drug Companies, Hospitals Decide to Start Their Own

#24

Post by chrisgd »

maxxxxx wrote: post #2

I am not sure if patients will see any of the savings though. I view hospitals as fundamentally dishonest organizations after a few experiences. Their medical treatment is fine but their financial practices are borderline fraudulent.

HCA, community health and the rest have gotten insanely wealthy off of sick people

Re: Fed Up with Drug Companies, Hospitals Decide to Start Their Own

#25

Post by wlesieutre »

maxxxxx wrote: post #15
programmingpol wrote: post #3

Earlier quoted context omitted.

Some, if not most, of this is a result of the insurance system. The insurance companies only pay x% of any given item, therefore the hospitals have to jack prices through the roof to collect enough to survive. The problem with our healthcare system is that too much money goes to drug companies, medical device makers, and insurance companies and not enough makes it to the people actually providing the care. Its a bit…

"The problem with our healthcare system is that too much money goes to drug companies, medical device makers, and insurance companies and not enough makes it to the people actually providing the care. " The surgeons I see through work have very nice houses and 100k+ cars so they are part of this.

You can thank the American Medical Association for their work on artificially limiting the number of doctors. I've read some accounts that they're now trying to fix this, but it's not something you can just fix in a year or two.

Re: Fed Up with Drug Companies, Hospitals Decide to Start Their Own

#26

Post by yorby »

mirimir wrote: post #22
maxxxxx wrote: post #2

I am not sure if patients will see any of the savings though. I view hospitals as fundamentally dishonest organizations after a few experiences. Their medical treatment is fine but their financial practices are borderline fraudulent.

Well, some hospitals are honest, and dedicated to patient care. And some are dishonest, and only in it for the money. But whatever, none of them are as evil as most drug companies.

> none of them are as evil as most drug companies

not yet...

Re: Fed Up with Drug Companies, Hospitals Decide to Start Their Own

#27

Post by fludlight »

Let's say they succeed in launching a new generics company. Ten years down the line they will divest in order to build each hospital a shiny new geriatrics wing. Within six months the spun-off drug company will jack up prices and the cycle will continue.

Re: Fed Up with Drug Companies, Hospitals Decide to Start Their Own

#28

Post by garmaine »

mywittyname wrote: post #13
programmingpol wrote: post #3

Earlier quoted context omitted.

Some, if not most, of this is a result of the insurance system. The insurance companies only pay x% of any given item, therefore the hospitals have to jack prices through the roof to collect enough to survive. The problem with our healthcare system is that too much money goes to drug companies, medical device makers, and insurance companies and not enough makes it to the people actually providing the care. Its a bit…

Health insurance companies have taken to denying almost every claim that hospitals file. This overtaxes the hospitals claims denial departments and costs hospitals millions in lost revenue because they don't have the staff to properly review and resubmit every claim (which has to be done by a clinical specialist). It's like taking your car to a mechanic, and once it's fixed, refusing to pay, claiming car didn't need…

On the other hand, when I bring my car to an auto shop they give an estimate of cost before actually doing any work.

Re: Fed Up with Drug Companies, Hospitals Decide to Start Their Own

#29

Post by influx »

garmaine wrote: post #28
mywittyname wrote: post #13

Earlier quoted context omitted.

Health insurance companies have taken to denying almost every claim that hospitals file. This overtaxes the hospitals claims denial departments and costs hospitals millions in lost revenue because they don't have the staff to properly review and resubmit every claim (which has to be done by a clinical specialist). It's like taking your car to a mechanic, and once it's fixed, refusing to pay, claiming car didn't need…

On the other hand, when I bring my car to an auto shop they give an estimate of cost before actually doing any work.

Not only that but car insurance is for catastrophic events, not for tune ups, and oil changes.

Re: Fed Up with Drug Companies, Hospitals Decide to Start Their Own

#30

Post by ars »

eatbitseveryday wrote: post #8
reaperducer wrote: post #7

Coincidentally, some insurance companies that are fed up with hospitals are starting their own.

Any source, example, etc.? Your comment reads like one of those click-bait advertisements.

UPMC. It's both an insurance company, and a chain of hospitals. And Dr.'s offices, and well, pretty much everything.

Not sure which came first though, hospital or insurance company.

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