Steven Brill’s Time Magazine special report in-depth analysis of hospital billing, non-profit hospital finances and administrative salaries is an insightful look at just how much health care costs in the US and why billing practices need to be reformed. It is a lengthy piece but well worth the read: http://healthland.time.com/2013/02/20/bitter-pill-why-medical-bills-are-killing-us/
According to one of a series of exhaustive studies done by the McKinsey & Co. consulting firm, we spend more on health care than the next 10 biggest spenders combined: Japan, Germany, France, China, the U.K., Italy, Canada, Brazil, Spain and Australia. We may be shocked at the $60 billion price tag for cleaning up after Hurricane Sandy. We spent almost that much last week on health care. We spend more every year on artificial knees and hips than what Hollywood collects at the box office. We spend two or three times that much on durable medical devices like canes and wheelchairs, in part because a heavily lobbied Congress forces Medicare to pay 25% to 75% more for this equipment than it would cost at Walmart.