Lest anyone accuse me of picking on hospital corporations (two of America's four largest cited above), while ignoring one of the other elephants in the room, I'll add a bit about PhRMA. Consider as a starting example Vytorin, widely advertised on TV; in clinical studies, "Vytorin failed to show much effect."
As is typical for drug trials that show failure, publication was delayed for years compared to trials that show "success", leaving the drugs on the market to make money, inflict side effects, and confer no benefit:
The literature imbalance can also result from the use of "rescue countries," i.e. if trials in America show a drug doesn't work, PhRMA can throw cash at doctors in dirt-poor "rescue countries" to produce "studies" showing "success":
While much or most of current American medical spending consists of waste, fraud, and abuse, ObamaCare is projected to increase spending even further. It all adds up to what I hope might become a page in @Patrick's next book, The Medical Trap.
It is possible that spending will decrease, considering that grants to corporations for providing care to non-funded patients will eventually become unnecessary. Corporations won't be able to write off the free care on their taxes...
...of course, they'll find other ways to scam us all. I love this country!
providing care to non-funded patients will eventually become unnecessary
LOL - In California, Obamacare is "threatening the financial stability of the state's safety net" because federal subsidies for illegal aliens will be diverted from public hospitals to insurance companies. Of course, the aliens are exempt from the mandatory insurance (they aren't even eligible if they want to pay for the insurance), and EMTALA will continue in effect so any remaining emergency departments will continue to be required to serve non-funded patients. So, existing emergency departments are closing and corporations are building new hospitals with no emergency departments at all. Letting injured emergency patients bleed to death may save $, but the savings will be more than offset by increased payments for toxic pills advertised on TV; federal projections show that ObamaCare will increase spending even above prior law, just as the lobbyists intended.
The document doesn't directly say patients at Sacred Heart Hospital died as a result of the procedures that involve cutting a hole into someone's windpipe, but it notes mortality rates from one of the doctor's tracheotomies were far higher than average.
The investigation of the hospital dating back to 2011 led to arrests on Tuesday of the hospital's owner, Edward Novak, 58, of Park Ridge, as well as another executive and four doctors in an alleged conspiracy to exchange kickbacks for referral of patients insured by Medicare and Medicaid. The arrested doctors allegedly received kickbacks from the hospital totaling more than $225,000, the 90-page complaint said."
Guess who's looking forward to Obamacare, with "no lifetime caps!"
BTW, @Bob2356, I'm sorry for putting you on Ignore, I was busy with tax forms and didn't have time for your distractions. I imagine you'll want to chime in on this thread with your usual refuted claims about all of this being "defensive medicine" and the solution being "tort reform" (i.e. making sure these hospitals and doctors shouldn't have to pay back any of the $$$ they overcharge for all these unnecessary injuries and/or deaths). Also, I updated my reply to your comment on a different thread, just wanted to let you know in case you wanted to respond. I do want to clarify though, by apologizing for ignoring you and giving you a chance to respond if you choose, I'm only trying to be fair. I don't share your T. Gondii-induced impulses to drive sideways at 80mph and surf with sharks and troll for fights all over the World Wide Web, but I do believe in giving people an opportunity to speak for themselves, or "enough rope" in other words, rather than ignoring them or whispering things about them behind their backs. Choosing ignorance says more about the person who chooses it than whatever they choose to ignore, so I'm sorry for briefly ignoring you. I can't promise to respond to all your comments though; if you wonder why, check my recent comment where I went out of my way to be nice and found an official link correcting your error about Medicare as gently as possible, and the thanks I got was only more sarcasm and rhetorical questions, no appreciation and not even an admission that you were obviously clearly wrong.
Sorry - living in the SFBA fortress, I hadn't realized the cannibal anarchy was already upon us. Now I know, the cannibals are literally drugging pregnant women and cutting babies out of wombs in a grotesque feast of mammon, leaving these women scarred for life and overbilling every mandatory insurance customer and taxpayer for it all. Laughing in greed, with blood dripping from their teeth and sinews and umbilical cords hanging from their mouths, they snarl their appreciation for the mandatory insurance that enables them to disguise the hideous cost as a "benefit." (And yes, the feast had begun even before Obamacare; the legislation merely aggravates a pre-existing condition, force-feeding a glutton who was already morbidly obese.)
Hospital went bankrupt in 2008 and was acquired by Prime Healthcare Associates. Later on they were upcoding malnutrition to kwashiorkor. 16.1% on medicare were diagnosed as having kwashiorkor, compared with 0.2% rate for the rest of California hospitals. Stories like that are the reason why Kamala Harris has basically prevented Prime Healthcare from acquiring more hospitals in California.....Reddy has friends on both sides of the aisle in California and now, I doubt the kwashiorkor rate is so high in Redding.
With 114 hospitals and $14 billion in yearly revenue, Tenet Health Systems is this country's second largest healthcare company.
It is also one of the most profitable, having built much of its business on critical care centers which specialize in expensive high-risk procedures, such as heart surgery... Tenet is now facing allegations that it made some of its profits from overbilling, false diagnoses, and - in at least one hospital - major surgery performed on patients who don't need it
One of Tenet's most profitable hospitals is Redding Medical Center, located in the shadow of Mount Shasta in Redding, Calif., a quiet town surrounded by farmland.
Laughing in greed, with blood dripping from their teeth and sinews and umbilical cords hanging from their mouths, they snarl their appreciation for the mandatory insurance that enables them to disguise the hideous cost as a "benefit."
Raw afterbirth is supposed to be good eatin'. Maybe they should start stocking the surgical suites with fromage and wine, as long as the docs don't eat the babies and charge for that, too.
It will be interesting to see how this story plays in Texas, where Karl Rove and GW Bush surfed to power on "tort reform." California has it too. It certainly has not reduced costs; to the contrary, the effect is to align the financial incentives all one way: do more billable procedures, without regard to risks. Thanks to malpractice insurance with community rating, the most unscrupulous operators offload their costs onto more careful practitioners, who cannot compete and are driven out of business.
Yeah, don't even get started on dental chains whose business model is to hire indebted recent graduates and push unneeded procedures.
Procedures like filing down a 15yo girl's healthy natural teeth and installing crowns.
In the heyday of Medi-Cal dentistry, the clinics in L.A. would send buses to the ghetto and engage in "capping" i.e. they would pay cash to the "patients" to drive them to the clinics for dental procedures to be billed to the state. It was eventually outlawed, but still, the patients were used as identity shills for billing purposes to tap the state funding. A few graduates became rapid millionaires by engaging their families in their practices with Medi-Cal fraud. Some were caught, others not. Like it or not, foreign graduates primed to exploit the idiot American welfare system were frequent offenders.
If you create a money spigot, there is always a genius who finds the most direct route to tap it come hell or high water, ethics or patient care out the window, it is why our insurance system and medical billing are crippled.