Have you ever wondered why medical bills these days are so expensive and you can’t even afford it, I mean seriously, isn’t healthcare a human right, but I guess not. There are a whole lot of reasons why healthcare and medical bills are so expensive, it is because it is important. Yet a lot of drugs are also expensive because if it wasn’t people might intentionally buy it just to sell it off later to someone else for a higher price.
But even sometimes with it being so expensive, some hospitals may not be able to even provide adequate healthcare and this will really drain our money for nothing. There are a lot of things that makes healthcare cost a lot, the branding, the limitation, even the procedures, not everyone is able to do life risking surgeries. We should not need to pay money to get healthcare, helping people to get well should be a free thing.
Administrative Costs
One of the number one reason why healthcare and medical bills are so expensive is because of the administrative costs of running the healthcare system. Administrative expenses are expenses that is incurred by an organization that is not directly tied to a specific function. These are the expenses that are related to the organization as a whole as opposed to an individual department, so it will include everything instead of just one thing.
Drug Costs
One of the most important reasons of why healthcare and medical bills are so expensive is the cost of the drugs. Everyone definitely believes that the drug cost are really unreasonable. If drug prices were reduced, think of all the savings we could have saved if we didn’t need to spend a fortune on just a couple of pills to make our recovery faster. What we can do is just avoid getting sick in general so we don’t have to deal with this in the first place.
Defensive Medicine
Defensive medical is also called defensive medical decision making, it refers to the practice of recommending a diagnostic test or medical treatment that is not necessarily the best option for the patient, but it is an option that will mainly serve the purpose of protecting the physician against the patient as potential plaintiff. Everyone will pay the bill on this with higher insurance premiums. This is why healthcare and medical bills are so expensive.
Expensive Mix Of Treatments
Expensive mix of treatments is why healthcare and medical bills are so expensive. The use of more expensive mix of treatments, this will result in more money being spent on technology, this is more common when you see a specialist doctor whose fees are generally higher than the primary-care doctors. Specialists command higher pay which in return will drive up the cost for all of us who see them, everything they do will cost more and we will end up paying more.
Wages And Work Rules
With the amount of staffs and wages, it will also contribute in driving the cost up in healthcare. Especially with specialists since they are commanding higher reimbursements and the overutilization of specialists through the current process of referral decision, making health costs even higher. So the next time you are sick and need medical attention, try to avoid specialists unless you absolutely have tried every other option.
Branding
Why healthcare and medical bills are so expensive? Well, branding. Branding often makes the product’s price higher, “there is no such thing as a legitimate price for anything in healthcare,” says George Halvorson, who is the former chairman of health maintenance organization Kaiser Permanente. The prices are made up depending on who the payer is. The providers who are able to demand the highest prices are also the ones that will create a brand that is wanted by literally everyone.
Conclusion
Now you have the knowledge of why healthcare and medical bills are so expensive. Healthcare prices are through the roof and there is nothing we can do about it, luckily there is health insurance, the medical card is able to pay up all of your medical bills, think of all the healthcare you can get without the rising medical bills you will have. AXA eMEDIC is offering medical card that starts from the price of RM 32/month, it is one of the cheapest in the market today with incredibly benefits, visit PolicyStreet.com to find out more.
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