New Law effective April 1st for hospital bills for the uninsured

[Robbien]

Basically:

Hospitals are not to charge more than 25% over their cost (A 25% return on investment for hospitals and that's a deal for patients? Meanwhile HMOs/PPOs pay less than cost.)

Hospitals cannot collect more than 25% of patient's income per year (A patient could be handing over a quarter of their paycheck paying off a bill for the rest of their lives.)

per
http://www.wgil.com/localnews.php?xnewsaction=fullnews&newsarch=032009&newsid=387



And this is supposed to be a good thing?

[Critters2]

1. The sad thing is that's an improvement. nt

[ColesCountyDem]

2. Yep.

Still, it's pathetic...

[mopinko]

3. you would have to sell me

Meanwhile HMOs/PPOs pay less than cost.

and they stay in business how? and build bright shiny new buildings like half the hospitals in chicago are doing, how?

[Robbien]

4. For the not for profit teaching hospitals

The two payors paying less than cost are HMOs/PPOs and Medicaid (Public Aid). Self Pay (the uninsured) and private insurance companies pay the highest rates.

However HMOs/PPOs bring in the volume of patients who also use ancillary services which are not covered by their HMO/PPO policies. Those ancillary services are what brings in profit for the hospitals.

Large teaching hospitals are profitable because of Medicare patients (seniors), Private Insurance patients, their pharmacy, emergency rooms, and xray/radiology. Also contributions, and financial transactions add to their bottom lines.


For profit hospitals make money by not taking in the uninsured and Medicaid patients.

[mopinko]

5. yeah, your opinion is noted

link?

[Robbien]

6. An informed opinion

based on over twenty years experience in the healthcare finance field.

But hey, you choose to believe what you want to believe. Not a problem.

[mucifer]

7. look your insurance premiums. We are paying for the shiney new buildings

and wealthy execs.