Shocking

Excerpt from deposition of regional hospital CEO regarding mark-up of hospital charges.

Category:

People & Blogs

Tags:

• hospital
• charges
• shocking

[dannidandannikins]

If the patients are willing to pay it then the price is reasonable. Of course if the hospital makes a policy of charging very high mark ups then there is room for another hospital to provide the service. The questioner seems to be attempting to assert that the person selling a product has to answer to someone other than his customer... that is shocking.

[rhazlewood07]

Your post is naive. The economic principles underlying your argument do not apply to the purchase of trauma services. The ambulance service - not the consumer - usually determines where the transaction will occur. Often, the consumer is not even conscious when the goods and services are delivered. Even if he or she is conscious, no price terms are disclosed; and the consumer is in no position to negotiate. Furthermore, there is no real opportunity to shop around.

[pagpag05]

This is a classic example where a deponent who is seemingly smart looks like he's got "shit for brains" for trying to play tit-for-tat with the lawyer asking the questions. Just answer the questions truthfully you weasel.

[arenaskiez]

Wow, drug companies do this all the time. They manufacture something worth a few dollars and end up reselling it for hundreds. It's everywhere.

[Danbo342]

I have sold items on Ebay years ago that were double what everyone else was selling the same for at that time. It was worth it and I simply wasn't going to take that big a loss to compete. This issue here though is totally different than the idiots argument about it being a free market. In a typical market you know how much something is and compare. In a hospital you have no idea what the price is until after the sale.

[Danbo342]

I think this is disgusting abuse of power 1st and foremost. I have dealt with this for too many years and as you get as old as me you'll see just how bad it gets with medications and insurance costs. But I want to make an people aware of why this is. Peoples rights to sue is the bottom line. Malpractice suits. Some great books out there for you readers. Years ago I came close to moving to France just over health care but that is one (Huge) negative from hundreds of great things I stay here for.

[chukchee]

America is going to hell.

[crazyknight2008]

and now america is trillions in debt lol

[dmelkumo]

@dannidandannikins

What the fuck are you talking about ??? who shops for hospitals? 

[dlovefromupabove]

While it may seem that free market capitalism and egregious mark-ups would encourage competition (and it probably does)- in many states a Certificate of Need must be granted by the state. Often times the only hospital in town (or REGION) will just add rooms and say there is no need for another area hospital b/c the only hospital in the region has enough rooms to accommodate patients.

So it is not a true free market. More like a MONOPOLY.

[HuntersCreed]

I'm just Average Joe America, but I find it offensive that they would charge such an inflated price for an item that cost so little. Granted I'm not medically educated, but I do have common sense.

[haygoodb]

@haygoodb ...oh, and yeah, all that notwithstanding, the prices are pretty steep.

[haygoodb]

Why doesn't he just explain that many patients won't pay and the vast majority of the rest will have the price determined for them by their insurance, so long as the hospital isn't charging less than they pay. As a result, the hospital makes sure they charge enough that no insurance company is willing to pay more, so the hospital doesn't miss out. If you are paying your bill yourself, then you generally get the short end of the stick, to say the least, so negotiate.