A Health Care Reform Blog–Bob Laszewski’s evaluation of the newest developments in federal health coverage, health care reform, and marketplace actions within the health care financing enterprise.
The focus on relentless income maximization may be bolstered by large incentives for high managers, particularly CEOs, based mostly on revenue and different financial, not medical outcomes. Such perverse incentives have resulted in enormous will increase in government compensation for hospital CEOs. For example, as we lately mentioned , author Dr John Noseworthy, CEO of the Mayo Clinic, acquired more than $2.3 million in whole compensation in 2013, and was just reported to have obtained greater than $2.5 million in 2015. Writer Dr Delos (Toby) Cosgrove, CEO of the Cleveland Clinic, received greater than $four.eight million in 2015 (look right here ).
So what does want” actually mean for companies like this? The only wise economic definition I can consider is that want” is the bundle of providers you’d select if you happen to have been paying with your own money on the margin. You need” that MRI to ensure your again ache won’t just heal after 6 weeks of ibuprofen when you’d be willing to shell out $1,000 of your personal cash to get it. (I am!) And you need” it delivered at a handy hour, tomorrow, somewhat than next week across city in the event you’re willing to pay that further cost.
For those who’d ever had to combat with an insurance company, you’d learn the way inefficient they are often. Not too long ago, a physician I used did not accept my insurance coverage and would not bill it for me. I needed to mail within the bills and varieties myself. I mailed the latest statement, which included two visits for which I had already paid cash ($250), on Might … Read More ...