In recent years patients have seen their health insurance premiums go way up as well as their deductibles. We small independent practices have seen increase costly regulations, quickly diminishing payments and a labyrinth of obstacles to go through to get paid the money the insurance companies owe us. Often it now takes $90 of labor to get the insurance company to pay a $100 bill. Presently over 50% of our resources are completely wasted on doing business with insurance companies. That money could be put to much better use with lower fees, increase services and other things to benefit the patient. I have been perplexed by these changes to say the least. It is really hurting headache sufferers as headache clinics are closing due to the inability for us to pay our bills. As you will see in your newsletter we having to downsize drastically to stay in business.
I don’t think this is the whole, simple answer, but one piece of the puzzle. In the past five years, health insurance companies’ profits have skyrocketed as have the salaries for their top executives. The average pay for a CEO of a health insurance company now is well over $10,000,000 / year. Read the full story here.
I think we would be much better off with an all-cash medical care (except for the really expensive things) and where the fees would be half of what they are today, or a national health care system. But in the present system, the headache sufferer will end up on the bottom.