Category: #1 Comedy Show (Mon-Tue) / 23 Jul 2018 / Part - 1

Please wait..

Healthcare & Business , What we are choosing?

by ExpertBlogger 11. March 2019 10:44

We have seen many most developed country of the world, and if it has been assumed that it has world’s highest life expectancy then this would be an incorrect supposition. U.S. stands way too below in the ranking of healthcare systems, studies prove that accessibility of care process, administration, drug costs and overall outcomes of these have made America a nation where the healthcare is meant to be for rich. It was estimated that an average American spends around $900 per person on an average and this figure is about five times more than the expenditure by an individual from any other developed country. The lavish medical bills and drug costs has not helped America to have a better life expectancy, but it has resulted in a broken medical system that only led to a higher spending on the healthcare but good health. The end users are falling prey to a system that is non-transparent and highly unpredictable because of the insurance companies not giving any access to the payer at all in the billing system of the treatments that they take or medicines that they buy. The non-interference of the Government to moderate these cost discrepancy has led to further breaking of the system which results in dissatisfied consumers and hence low life expectancy rate. The consumer will hardly be able to decipher the billing details of any treatment he/she had undergone through because this remains the most guarded secret of the insurance companies that work with the hospitals and the providers hand in hand to create a black box around the costing. Different procedures conducted in a facility have different costs and the consumers are billed differently by the hospitals and the amount billed would be always more than the amount covered for that procedure by the insurance company. The deducible factor of a comprehensive health plan is the determinant for cost borne by a consumer. Plans with lower premium and higher deducible will result in more cost to be incurred on the consumer whereas plans with higher premium and low deducible makes the healthcare more affordable to the consumer.

 

An average American has to pay fifty to eighty percent more price for a drug than any other individual of other developed countries like Australia or Canada. American Government do not intervene in moderating the price of the drugs and have set free the pharmacies to levy any amount which they feel is suitable. It is the insurance companies instead of a government regulatory body that decide the price of a particular drug along with the pharma companies. This has a direct consequence on the bearer because for a particular drug the prices will vary across the country which does not depends upon its formulation or demand but it depends on the rate negotiated by the insurance company of the bearer and type of plan he/she has the cover of. This has resulted in the increased price of even the universal drugs that should have been available to the consumer at the lowest best price.

 

There are private authorities that serve as middlemen and earn a lot of money in the supply chain of healthcare system. These bodies help managing the drug costs but not unify it. They make money by maximizing the cost so that they get the differential amount of the copay paid by the consumer above the actual cost of the drug from the pharmacy. This has turned into a profitable business where the providers are concerned with making just money by prescribing drugs, asking for more tests than what actually are required and making sure that there will be more visits to the facility than required so that each visit can help them earn more money, as doctors are paid per service and not per positive outcome of the visit. The entire hierarchy is disruptive and indulge in such malpractices that victimize the consumers. In spite of world class technology and some extremely advanced healthcare techniques being implemented America is unable to bring back a relief to the common man to have these facilities at affordable prices because of the lack of transparency and the third party involvement which primarily look for perverse profits.

Source 2