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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Crimson Ghost who wrote (25374)3/10/2005 9:29:22 PM
From: Elroy Jetson  Read Replies (1) of 116555
 
The overall high cost can be traced back to two primary causes.

1.) Private insurance adds roughly 45% to the cost for processing claims and overhead.

2.) America is virtually the only nation which does not negotiate substantial discounts for pharmaceuticals, due to the great sums these companies spend on lobbying and political donations. Few democratic nations allow this degree of corruption in their government.

On an individual basis, the costs paid by each person bear little relationship to their costs, with one person subsidizing another.

Another great disparity in price compared to costs are labs. Take an example of a pre-surgical lab of $305.37 where Blue Cross allocates a $269.59 discount. I'm sure the 37.78 payment covers their costs.
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