Posted by Warm Southern Breeze on Monday, October 31, 2016
Some have accurately, and justifiably observed that the Affordable Care Act, also colloquially known as “ObamaCare,” is a big fat, sloppy wet kiss to the Big Insurance industry and their for-profit, Wall $treet corporate masters, because their profits have continued to soar since it’s inception. Note that UnitedHealth Group reported a profit of $11 billion (on revenues of more than $157 billion) in 2015, up from $10.3 billion (on revenues of $131 billion) in 2014. Consider also how Anthem’s business changed in just one recent year. At the end of 2014, the majority of Anthem’s revenues still came from its Commercial Health Insurance customers. During 2015, however, revenues from their commercial operations actually declined 4.2%, to $37.6 billion, while revenues from their government operations skyrocketed 21%, to $40.1 billion. A significant reason why, is because of the big investments Insurance Companies continue to make in House and Senate campaigns. As a result, the Insurance Industry’s tentacles will likely only get deeper into both the Medicare and Medicaid programs.
Medical equipment is pictured on the wall of an examination room inside a Kaiser Permanente health clinic located inside a Target retail department store in San Diego, California November 17, 2014. Four clinics are scheduled to open to provide pediatric and adolescent care, well-woman care, family planning, and management of chronic conditions like diabetes and high blood pressure for Kaiser members and non-members. REUTERS/Mike Blake (UNITED STATES – Tags: HEALTH BUSINESS SOCIETY) Fair Use
It’s that time of year again. Insurance companies that participate in the Affordable Care Act’s state health exchanges are signaling that prices will rise dramatically this fall.
And if insurance costs aren’t enough of a crisis, researchers are highlighting deficiencies in health care quality, such as unnecessary tests and procedures that cause patient harm, medical errors bred by disjointed or fragmented care and disparities in service distribution.
While critics emphasize the ACA’s shortcomings, cost and quality issues have long plagued the U.S. health care system. As my research demonstrates, we have these problems because insurance companies are at the center of the system, where they both finance and manage medical care.
If this system is so flawed, how did we get stuck with it in the first place?
Answer: Organized physicians.
As I explain in my book, “Ensuring America’s Health: The Public Creation of the Corporate Health Care System,” from the 1930s through the 1960s, the American Medical Association, the foremost professional organization for physicians, played a leading role in implementing the insurance company model.
What existed before health insurance companies?
Between the 1900s and the 1940s, patients flocked to what were called “prepaid physician groups,” or “prepaid doctor groups.”
Prepaid groups offered inexpensive health care because Read the rest of this entry »
Posted in - Business... None of yours, - Do you feel like we do, Dr. Who?, - Politics... that "dirty" little "game" that first begins in the home. | Tagged: ACA, Affordable Care Act, Agency for Healthcare Research and Quality, business, campaign, Campaign finance, Congress, cost, exchanges, Harry Truman, health, Health Business Society, healthcare, House, insurance, law, LBJ, Lyndon B. Johnson, Medicaid, medical care, Medicare, medicine, money, Obamacare, Patient Protection and Affordable Care Act, PPACA, senate, single payer, Truman, universal healthcare | Leave a Comment »
Posted by Warm Southern Breeze on Friday, October 26, 2012
Has it now become “all about the money”?
Is patient safety, patient care, patient well-being no longer of concern?
It certainly seems that way.
And this, perhaps better than anything else, serves to prove that the “love of money is the root of all evil.”
The reason why, is that people will do anything to get more of the object of their affection, the object of their love. And, because it is an inanimate object, money cannot in return love those who love it. So the relationship is a “one-way love affair,” wherein one party – the human – spends time, energy, effort and emotion to invest affection in a thing that cannot yield an appropriate return.
For when one invests money, one rightfully expects to profit by receiving money in return. Similarly, when one invests time, energy and emotion, one expects to profit by receiving more time, energy and emotion in return. And yet, time, energy and emotion are things inherently absent in money.
Medtronic Manipulated Bone Product Data, Senators Say
Medtronic Inc. (MDT) ghost-wrote sections of medical papers and paid physician authors hundreds of millions of dollars in “consulting fees” to promote its bone- growth product Infuse, a U.S. Senate investigation found.
Medtronic, the world’s biggest maker of heart-rhythm devices, helped write, edit and shape at least 11 medical journal articles about the product, which is used to spur bone growth after spinal surgery, according to report released today by the Senate Finance Committee.
The doctors and researchers who were the authors of the studies were part of a $210 million consulting and royalty payments program by Minneapolis-based Medtronic and never disclosed their ties or the company’s influence in their papers, the panel said in its report.
“Medtronic’s actions violate the trust patients have in their medical care,” Senator Max Baucus, a Montana Democrat and committee chairman, said in a statement. “Medical journal articles should convey an accurate picture of the risks and benefits of drugs and medical devices, but patients are at serious risk when companies distort the facts the way Medtronic has.”
Sales of Infuse plunged after The Spine Journal published studies in May 2011 and June 2011 showing Read the rest of this entry »
Posted in - Business... None of yours, - Do you feel like we do, Dr. Who?, - Read 'em and weep: The Daily News | Tagged: Agency for Healthcare Research and Quality, Food & Drug Administration, healthcare, Infuse, investigation, Medtronic, news, RBC Capital Markets, research, senate, Spine Journal, United States Senate Committee on Finance | Leave a Comment »