Thursday, August 22, 2013

Prices and health care expenditures

Healthcare expenditures vary widely across different areas.  The economist has an article on the causes.

For Medicare patients [where prices are fixed by the federal government], most variation comes from differences in patients’ health status [consumption] and the overuse of a particular service, post-acute care, [e.g., nursing homes]. 
For privately insured patients, price gaps are to blame. ... In areas with a dominant hospital chain, prices are likely to be higher. The IOM reports that price mark-ups account for 70% of the variation in commercial spending.

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