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Originally posted by sos37
These arguments are all well and good but isn't the problem with inflated costs of medical care in the U.S. all because of insurance companies and frivolous malpractice suits?
Doctors know insurance companies will cough up the money, even though they have to negotiate a payment with them (FYI, the amount doctors want and the amount insurance will pay are two separate things - that does NOT mean that you, the insured, are liable for the remainder). However, doctors will still overshoot by a wide margin what they want because they know insurance companies will come down off that figure. The reality of what they actually get is still pretty high, comparatively.
I don't know why insurance companies agree to pay even half of what doctors ask for when they know the value of the service isn't worth that much. Seems like if insurance companies put their collective feet down then maybe doctors and pharma would quit overshooting their quotes. Of course I'm not in the insurance biz, so I really lack a lot of knowledge in this area.
[edit on 26-4-2010 by sos37]