Horrifying. But also horrifying that treatment costs so much. Supposedly we have to let drug companies charge extravagant prices because it costs so much to discover new treatments, but there has to be a great deal of inefficiency there. Are we getting a 99% solution for $X when we could be getting a 95% solution for $X/10?
The fix here would be to remove the middlemen (insurance companies) and pay hospitals what Medicare/Medicaid pay them, which is typically a much lower negotiated amount.