US hospital profits fall to zero- Thomson Reuters
| Reuters »
Posted By greenmac
2 months, 3 weeks ago
in Health & Fitness
WASHINGTON, March 2 (Reuters) - Plunging revenue has forced
median profit margins for U.S. hospitals to zero, according to
a Thomson Reuters analysis of hospital finances published on
Monday.
Read Full Story at reuters.com »
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Submitted By:
greenmac
Ok..Ok....This is where I say something great about myself.....hmmmm. I like daylight and night time as well. How am I doing so ...
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greenmac2 months, 3 weeks ago
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With any type of business...no profit results in closure or cut backs. There is a definite need for health care reform. If costs are rising, these costs will have to be passed on to the consumer. The price of health insurance will reflect this.
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greenmac2 months, 3 weeks ago
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I was having a discussion on another thread regarding hospital closures. After some research, I came to the conclusion that the cost of private health care will drive more business to medical tourism. The result will be the profitability will suffer even more.
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"A forecast by Deloitte Consulting published in August 2008 projected that medical tourism originating in the US could jump by a factor of ten over the next decade. An estimated 750,000 Americans went abroad for health care in 2007, and the report estimated that a million and a half would seek health care outside the US in 2008. The growth in medical tourism has the potential to cost US health care providers billions of dollars in lost" -
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greenmac2 months, 3 weeks ago
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LINK FOR ABOVE QUOTE
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http://www.deloitte.com/dtt/cda/doc/content/us_chs... -
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greenmac2 months, 3 weeks ago
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"Shirley Healey has a $41,000 US bill from a hospital stay in Bellingham, but after having her surgery cancelled twice in Kelowna -- with no guarantee it wouldn't happen again -- she has no regrets about going to the U.S., because her health has been restored."
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Yes Mannix her surgery was canceled as the surgeon had 2 emergency cases come in on that particular day...her surgery was not life threatening...she is now being used as a pawn for those who oppose the US health care reform. do a bit of research before you do your pasting.
As i said in another thread .."leaked report" by the NDP...the oposition party. Not factual at this point. I can provide you with many many failures from reliable sources that support the view that your system is severely flawed... would you like them??? Our system is flawed as well...but we live longer...and medical bankruptcy does not exist....two key areas. You ramble on about wait times...I can give you all kinds of failure to deliver in areasonable manner in the US as well in Canada...do you want those??? -
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miklkit2 months, 3 weeks ago
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The law states that one hospital per county has to keep it's emergency room open. In some counties that's all there is. One per county because the other hospitals closed theirs. That is where the 3 to 6 hour waits are happening. And the treatments are crap because they just want you out of there to make room for the next dummy.
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greenmac2 months, 3 weeks ago
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"More than 20 percent of Americans surveyed by Your Surgery Abroad had no medical insurance. But Karen Timmons, president and CEO of Joint Commission International, a nonprofit that has accredited more than 250 hospitals in 36 countries, says that Americans who are underinsured are more likely to go abroad for surgery than those who are not insured at all. That’s because insurance companies will typically cover some portion of the cost for underinsured patients while uninsured patients, who also tend to make less money, have a harder time coming up with enough cash to cover the procedure, the flights, and a hotel room on their own, Timmons says. "
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I hope you can see the danger. With decreasing business, hospitals will scale back or close based on the system you have today. This is much like the introduction of VW and toyota into the North American car market... -
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k9kssr2 months, 3 weeks ago
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The small not-for-profit hospital where I work saw a $200,000 shortfall in 2008 which is unusual for us....we usually break even and if we show a "profit" it gets sunk back into equipment, etc. One thing I have been wondering about.....years ago there were federal grants available that people without insurance and even those who had insurance but couldn't cover the deductibles could file for and the hospital would be re-imbursed. That way the hospital wasn't stuck holding the bag for non-paying patients which does drive up costs for everyone. I think they were called Hill-Burton grants, but I can't be sure, they went the way of the dinosaurs for some reason. IMO, that could be a useful way to keep down hospital costs and the program should be reconsidered.
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greenmac2 months, 3 weeks ago
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Our biggest problem up here is efficiencies within the system... we have been making changes here where i live and so far they have showed promise. There is no doubt , as the population ages, the system will become strained. fixing the problems now is important . POreventive medicine and life style will become a key point.
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