The current system is already producing a decline of health care and a decline in life expectancy for the average American even though we’re spending twice as much as other large industrialized countries. Of course, none of the excess spending is making it to the patient. It’s being skimmed off in the 20% skim rate on private health insurance, 15% on Medicare Advantage, price gouging in hospital services and drugs, etc.
A couple of days ago someone posted the Propublica story about the 2.5% payment fee scam engineered by Bain Capital (Mitt Romney’s old firm) and Zelis Payment Systems. That’s 2.5% on $1 Trillion of Medicare and Medicaid spending or $25 Billion per year. Because of the bipartisan corruption of our economic and political elites, we’re no more likely to investigate and prosecute the Bain Capital scam than the $4 Trillion flushed down the toilet in the Iraq & Afghanistan Wars with half that money never getting any further than the Washington DC suburbs before it was skimmed off.
Then there’s this article from Becker’s Hospital Review reporting that Bain Capital is skimming as much as 5% in some cases – all with no improvement in anyone’s health care.
intercst