Merry Christmas! If you have insurance your life is worth 62 cents on the dollar.
Fun fact: Duke University Hospital has 900 beds and 900 billing clerks.
The Senate Finance Committee has heard about the problem of overhead. On Nov. 19, Professor Uwe Reinhardt, who is also on the board of trustees of the 900-bed Duke University Hospital, used Duke to illustrate the problem: “We have 900 billing clerks at Duke. I’m not sure we have a nurse per (each) bed, but we have a billing clerk per bed…
If you didn't stay up late for the Corrente Festivus Daschle House Party, you might have missed it, but it's been estimated that possibly as little as 62% of your health insurance premium goes to actual health CARE.
Lots of good pictures [the info, not necessarily the colors, design, or titles] in this post by DrSteveB [yes, it's at dkos, deal]. If you scroll down to the 8th chart, Allocation of Spending for Hospital and Physician Care Paid Through Privae Insurers, you'll see where your health insurance dollar is going.
- Medical care: 62%
- Medical care administration: 10%
- Physician billing: 5%
- Hospital billing: 4%
- Insurer billing: 8%
- Other insurer costs and profit: 11%
Some administrative costs are unavoidable of course, but administrative costs for most single payer systems are estimated to be in the range of 2-5%, which would leave the remaining 95-98% available to pay for actual care, like oh i dunno, maybe some more nurses?