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The World’s Cheapest Hospital Has to Get Even Cheaper

bloomberg.com

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Re: The World’s Cheapest Hospital Has to Get Even Cheaper

#21

Post by superhuzza »

notyourday wrote: post #9
rhombocombus wrote: post #8

Earlier quoted context omitted.

The difference here is not that we don't do surgeries efficiently, but that we are subject to the effects of regulatory capture, which stops any kind of price competition in its tracks and leads to $300 bags of saline.

I most am most likely going to need an ACL surgery in a couple of months so we will see how it goes. So far I found out that pretty much every "X is difficult" is a gospel peddled by lazy. This is my first relatively major incident so I'm running pretty blind -- I'm approaching it as I approach needing to do something in business. Instead of going to the ER ($2,500), I went to a walk in medical center ($120), got see…

What happens when someone has an emergency like a stroke or heart attack? Not a lot of time to email all the local hospitals. What happens when the patient is unconscious? What happens if their condition can only be treated by a certain facility or medication?

But yes, surely people are only getting screwed over the healthcare system because they are lazy. /s

Re: The World’s Cheapest Hospital Has to Get Even Cheaper

#22

Post by redisman »

eitally wrote: post #12
smush wrote: post #2

Compared to high margin low volume surgeries in the US, this is low margin high volume. Its ingenious how the highest skilled individuals only step in for the trickiest part of the surgery, but the simpler tasks like getting to a heart are performed by lesser doctors or nurses. Some things make sense like having medical machines maintained in house. Other things, like sterilizing and reusing IV lines seem pretty risk…

This happens in the US, too. (my daughter just had open heart surgery at a top tier research hospital.) It's very common for a resident surgeon to open the patient and prep the detailed surgical site as part of their practical work (residency, fellowship). This usually happens under direct supervision of the attending, but not always. But, in the case of cardiac surgery, "getting to the heart" is a very quick process…

We had a birth recently and the residents (who get paid very little) did 80% of the work while the attending surgeon came and went and probably spent a total of 15 minutes with us. The insurance company was still billed almost 10k for a epidural.

Re: The World’s Cheapest Hospital Has to Get Even Cheaper

#23

Post by vadlamak »

The problem I see in the US is a defensive approach against being sued by the patient. The doctor prescribes a battery of tests even though he is more or less sure what the symptom might be. But let's play it safe and not get sued! Healthcare professionals carry insurances in millions against being sued. This ultimately gets passed on to customers. Accountability is good, but not at this cost!

Re: The World’s Cheapest Hospital Has to Get Even Cheaper

#25

Post by vadlamak »

One of the bigger problems I observed in the US is a defensive approach against being sued by the patient. The doctor prescribes a battery of tests even though he is more or less sure what the symptom might be. But let's play it safe and not get sued approach to everything! Healthcare professionals carry insurances in millions against being sued. The cost ultimately gets passed on to customers. Accountability is good, but not at this cost! At the other end of the spectrum accountability is much harder in a country like India hence the incentive to take risks.

Re: The World’s Cheapest Hospital Has to Get Even Cheaper

#26

Post by ams6110 »

notyourday wrote: post #19
8ytecoder wrote: post #15

Earlier quoted context omitted.

What's the incentive for me to save all that money when my insurance pays for it anyway and my company pays for my insurance? Insurance is supposed to do this job - negotiate prices ...etc., but, people are so attached to their doctors that insurance usually caves giving hospitals a much higher bargaining power.

High Deductible Plan. Takes care of big ass expenses, steep cost in the beginning.

It's a start, but imperfect because most people with a high deductible plan will also have a health savings account (HSA). The HSA may even be required, not sure. The problem with HSAs is that although it's "your" money, it can only be spent on qualified health expenses. So there's a reduced incentive to spend carefully, because you can't use the money for anything else.

Re: The World’s Cheapest Hospital Has to Get Even Cheaper

#27

Post by SilasX »

benj111 wrote: post #24

I think they need to qualify 'cheapest' because as a Brit I wouldn't have to pay anything (directly) for any of these things. Now the costs of doing the procedures are probably lower, but I have no idea what they would cost in this country.

Somebody is paying, and even if you're not paying out of pocket it definitely matters how much the government is paying and economizing, because they have to stretch your tax dollar/pound too.

Re: The World’s Cheapest Hospital Has to Get Even Cheaper

#28

Post by [deleted] »

notyourday wrote: post #9
rhombocombus wrote: post #8

Earlier quoted context omitted.

The difference here is not that we don't do surgeries efficiently, but that we are subject to the effects of regulatory capture, which stops any kind of price competition in its tracks and leads to $300 bags of saline.

I most am most likely going to need an ACL surgery in a couple of months so we will see how it goes. So far I found out that pretty much every "X is difficult" is a gospel peddled by lazy. This is my first relatively major incident so I'm running pretty blind -- I'm approaching it as I approach needing to do something in business. Instead of going to the ER ($2,500), I went to a walk in medical center ($120), got see…

[deleted]

Re: The World’s Cheapest Hospital Has to Get Even Cheaper

#29

Post by organsnyder »

notyourday wrote: post #19
8ytecoder wrote: post #15

Earlier quoted context omitted.

What's the incentive for me to save all that money when my insurance pays for it anyway and my company pays for my insurance? Insurance is supposed to do this job - negotiate prices ...etc., but, people are so attached to their doctors that insurance usually caves giving hospitals a much higher bargaining power.

High Deductible Plan. Takes care of big ass expenses, steep cost in the beginning.

HDPs can also have unintended side effects like patients delaying getting screenings until conditions are much worse (and more expensive to treat).
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