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Season’s best greetings from all of us at our firm! |
Over the years, this newsletter has suggested for our readers other health-related gifts, including participating in a randomized clinical trial.
Or you may want to donate items you and your loved ones no longer use, including eyeglasses, hearing aids, rehabilitative gear, and prescription medications You may resolve to share service-oriented activities with others and in your community, as members of our firm do. If you’re looking for charitable groups that can always benefit from help, the firm has a list of suggestions, available by clicking here. No matter how you choose to give to others, all of us at the firm are grateful to work with you and to wish you and yours the merriest and healthiest holidays as well as all the best in the months and years ahead!
Credits: Photo above, Chef José Andrés dons protective gear as he helps deliver food assistance to combat-besieged Ukrainians. World Central Kitchen/WCK.org Painting, above, Rembrandt van Rijn. The Anatomy Lesson of Dr. Nicolaes Tulp. The Mauritshuis, the Hague, the Netherlands. Work commissioned by members of Surgeons’ Guild, Amsterdam, 1632; Surgeons’ Widows’ Fund, Amsterdam, 1798-1828; purchased by the Dutch State and placed in the Mauritshuis at the order of King William I, 1828 |
Negotiate those bills — especially if medical prices prove to be so arbitrary |
In recent months, consumers have started to see big federally required downloads of previously proprietary data on hospital prices, especially those negotiated with health insurers and big employers. This economic information, of course, comes atop increasing scholarly scrutiny of skyrocketing medical charges. The still-developing read-out from the increasing price transparency should not come as a shock to patients who foot the bills: Medical charges vary wildly and seemingly without sensible explanation, as the medical journal Health Affairs has reported: “Studies of price variation among hospitals and insurers within the U.S. suggest that much of the price growth driving spending growth is excessive, particularly in the private sector. In their 2018 article ‘The Price Ain’t Right?’ Zack Cooper and colleagues used Health Care Cost Institute data from 2011 to find enormous variation in private insurer spending by hospitals for the same procedures … A 2021 Henry J. Kaiser Family Foundation (KFF) analysis (also of commercial payers) showed massive variation in prices for common hospital and physician procedures by geographic area. According to the KFF analysis, in 2018 the average price for a knee or hip replacement at an in-network facility varied by a factor of two between the Metropolitan Statistical Area with the lowest average price (Baltimore, Md., at about $23,000) and that with the highest average price (New York City Metro area, at about $58,000). “Comparing Medicare prices with prices paid by private insurers offers another measure of variation in U.S. health care prices and provides further evidence of excessive prices. Christopher Whaley and colleagues at the RAND Corporation analyzed data on spending for hospital inpatient and outpatient services from a selection of employers and private insurers and found that in 2018 those insurers paid 247% of what Medicare would have paid for the same services at the same facilities…” While the experts parse data reluctantly flowing from parties in the U.S. health care system, regular folks can choose in the days ahead to pursue a strategy the information points to: If prices for medical services and goods are as arbitrary as they seem, why not consider them flexible and negotiable? Why give away your hard-earned money when a little dickering can go a long way? This will take patience, persistence, a willingness to educate oneself in frustrating red tape and bureaucracy. But experts say you can save yourself real money in 2023 and beyond by taking steps such as:
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