Report: More Than $1 Trillion a Year in Health Care Waste
Accounting giant PricewaterhouseCoopers' Health Research Institute has determined that the United States wastes more than $1 trillion a year on health care expenses that could be eliminated. The biggest waste ($210 billion) comes from doctors ordering too many tests for patients, either because they’re too concerned about getting sued, or because performing the unnecessary procedures makes them more money. Researchers also blamed insurance companies for inefficiently processing claims, which totaled another $210 billion in waste. Patients were blamed as well for the problem, causing $100 billion in additional medical care because they failed to heed advice given by doctors. Other sources of waste include ineffective use of technology ($88 billion), hospital readmissions ($25 billion) and medical errors ($17 billion).
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