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Their wordsHealthcare contracts with big providers are COMPLICATED. They aren’t just lists of terms and prices. They have equations in them that take a math major to begin to evaluate them. The only way these become simplified, and the only way the people paying for their care turn this into an efficient market is if those contracts are published for all to see
Our reading
Healthcare payments should all be cash pay, taking insurance companies out of the equation.
Their wordsAll Payments are Cash Pay – The cost of administering and managing payments is astounding. Many estimates are 20 to 30 percent. Most of that is because of the never ending battle between Insurance companies and providers and patients to collect money We could add another 10 percent to account for fraud, overbilling and upcoding and upcoding. Across 5 Trillion dollars. That’s real money.
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