This article highlights growing hospital monopolies as a major contributor to the rising cost of healthcare for Americans today. Learn about the industry consolidation that’s allowed greater negotiating power that continues to drive up healthcare costs and minimizes pricing transparency. Medxoom lets employers and their employees know hospital procedure pricing before going, so they can select the highest quality lowest cost hospital for their needs.
From The Federalist:
“Despite the constant focus on prescription drug prices, pharmaceuticals represent a comparatively small slice of the American health care pie. In 2016, national spending on prescription drugs totaled $328.6 billion. That’s a large sum on its own, but only 9.8 percent of total health care spending. By contrast, spending on hospital care totaled nearly $1.1 trillion, or more than three times spending on prescriptions.
Add in a portion of the $881.2 billion spent on professional and physician services—a growing portion, given that hospitals continue to snap up physician practices left, right, and center—and one can easily call hospitals a $1.5 trillion industry. As an analysis in the Wall Street Journal last week demonstrated, that industry is majorly affecting the health-care sector—and raising your insurance premiums to boot.“