Elizabeth Warren said the insurance industry last year “sucked $23 billion in profits out of the health care system.” as reported by 2019 National Association of Insurance Commissioners U.S. Health Insurance Industry | 2018 Annual Results
That leaves excess Profit at $17 Billion. NAIC doesnt account for all insurers and we can even double profit to $35 Billion just to be on the safe side, or 1% of Healthcare Costs
Very High Salaries
In the U.S. Registered Nurses 2018 Median Pay [$71,730 per year] (https://www.bls.gov/ooh/healthcare/registered-nurses.htm)
Fully qualified nurses start on salaries of [£24,214 rising to £30,112 or max out at $40,600] (https://www.nurses.co.uk/careers-hub/nursing-pay-guide/) on Band 5 of the NHS Agenda for Change pay rates.
With experience, in positions such as nurse team leader on Band 6, salaries progress to £30,401 to £37,267 or $50,300.
Average [yearly salary] (https://naibuzz.com/10-countries-highest-doctors-salaries-world/) for a U.S. specialist Dr – $370,000 Specialist make up 68% of the Doctor active
Average yearly salary for a specialist at NHS – $150,000
Average yearly salary for a U.S. GP – $230,000
Average yearly salary for a GP in NHS – $120,000
36.3 million people spent an average of 6 nights in the hospital last year and Paid $1.1 Trillion to one of the 6,146 hospitals currently operating
Hospital Bed-occupancy rate
for UK hospitals of 88% as of Q3 3019 up from 85% in Q1 2011
In Germany 77.8% in 2018 up from 76.3% in 2006
IN the US in 2019 it was 64% down from 66.6% in 2010
Definition. % Hospital bed occupancy rate measures the percentage of beds that are occupied by inpatients in relation to the total number of beds within the facility. Calculation Formula: (A/B)*100
The US has 15 Million people that are directly working in healthcare earning $1 Trillion so
While NHS list 150,000 Drs and 320,000 nurses for a population of 67 million
447 people per Doctors
209 People per Nurse
While Canada Healthcare list 86,644 Drs and 425,757 nurses for a population of 37 million
425 people per Doctors
86 People per Nurse
That means that we need 3.5 million less nurses and 200,000 less doctors In the 1,600 hospitals that need to be closed (vs UK NHS). And 1.1 million less nurses and 125,000 less doctors In the 1,800 (vs Canada) to many operating hospitals
High cost of Payment for services from back office work, though low 7.9% of healthcare is still an added cost
To reduce fraud and Admin hospitals are funded through global budgets. A “global budget” is a lump sum paid to hospitals at the first of a fiscal year to cover operating expenses based on expected medical needs of the area a hospital will serve.
To set those global budgets, directors will look to pay out based on the number of patients you have multiplied by the medicare reimbursement cost to fund your hospital/Doctors office/Nursing Home, etc for the year. So this puts hospitals, Doctor Offices under budgeting constraints
One problem is the group a study of high admin costs says has the highest Admin percentage cost, has the lowest insurance repayments. In Home Health & Hospice Care 27%/40% of revenues are reported to go towards administrative costs even though Medicaid and Medicare are the major payors with cash paying most of the rest
Home care (Nursing Care Facilities and Continuing Care Retirement Communities and Home Healthcare) is a diverse and dynamic service industry that Approximately 12 million individuals currently receive care at a cost of $263 Billion
All of these 3 issues save 25% or more of Healthcare Cost.
Even without efficiency its 20% savings
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