Article

As Hospital Prices Soar, a Stitch Tops $500

In a medical system notorious for opaque finances and inflated bills, nothing is more convoluted than hospital pricing, economists say.

On a quiet Saturday in May, nurses in blue scrubs quickly ushered the two patients into treatment rooms. The wounds were cleaned, numbed and mended in under an hour. “It was great — they had good DVDs, the staff couldn’t have been nicer,” said Emer Duffy, Orla’s mother.

Then the bills arrived. Ms. Singh’s three stitches cost $2,229.11. Orla’s forehead was sealed with a dab of skin glue for $1,696. “When I first saw the charge, I said, ‘What could possibly have cost that much?’ ” recalled Ms. Singh. “They billed for everything, every pill.”

In a medical system notorious for opaque finances and inflated bills, nothing is more convoluted than hospital pricing, economists say. Hospital charges represent about a third of the $2.7 trillion annual United States health care bill, the biggest single segment, according to government statistics, and are the largest driver of medical inflation, a new study in The Journal of the American Medical Association found.

Read the full story here: http://nyti.ms/1ePgTDD

Source: The NY Times

Related Videos
Video features 3 KOLs
Video features 3 KOLs
A panel of 4 experts on PDTs
Rachel Dalthorp, MD
A panel of 5 experts on Alzheimer disease
A panel of 5 experts on Alzheimer disease
Related Content
CH LogoCenter for Biosimilars Logo