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25 Shocking Facts that Prove the U.S. Health Care Industry has become one Giant Money Making Scam

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posted on Apr, 13 2011 @ 08:48 AM

We have a health care industry in the United States that is fundamentally broken and it needs to be rebuilt from the ground up.

What is the appropriate word to use when you find out that the top executive at the third largest health insurance company in America raked in 68.7 million dollars in 2010? How is one supposed to respond when one learns that more than two dozen pharmaceutical companies make over a billion dollars in profits each year?

Is it okay to get angry when you discover that over 90 percent of all hospital bills contain "gross overcharges"? Once upon a time, going into the medical profession was seen as a "noble" thing to do. But now the health care industry in the United States has become one giant money making scam and it is completely dominated by health insurance companies, pharmaceutical corporations, lawyers and corporate fatcats.

In America today, just one trip to the hospital can cost you tens of thousands of dollars even if you do not stay for a single night. The sad thing is that the vast majority of the money that you pay out for medical care does not even go to your doctor. In fact, large numbers of doctors across the United States are going broke. Rather, it is the "system" that is soaking up almost all of the profits.

But wasn't that what Obamacare was supposed to do? No, in fact Obamacare was largely written by representatives from the health insurance industry and the pharmaceutical industry. Once it was signed into law the stocks of most health insurance companies went way up. The truth is that Obamacare was one of the worst pieces of legislation in modern American history. It did nothing to fix our health care problems. Rather, it just made all of our health care problems much worse.

In case you haven't noticed, health insurance companies all over the United States have announced that they are going to raise premiums significantly due to the new law. Of course they are just using it as an excuse. They have been sticking it to us good for the last several decades and they just grab hold of whatever excuse they can find to justify the latest rate hike.

If you are looking for a legal way to drain massive amounts of money out of average Americans just become a health care company executive. Health care has become perhaps the greatest money making scam in the United States. When Americans are sick and have to go to the hospital most of them aren't really thinking about how much it will cost. At that point they are super vulnerable and ready to be exploited.
The following are 25 shocking facts that prove that the entire U.S. health care industry is one giant money making scam....

#1 The chairman of Aetna, the third largest health insurance company in the United States, brought in a staggering $68.7 million during 2010. Ron Williams exercised stock options that were worth approximately $50.3 million and he raked in an additional $18.4 million in wages and other forms of compensation. The funny thing is that he left the company and didn't even work the whole year.

#2 The top executives at the five largest for-profit health insurance companies in the United States combined to receive nearly $200 million in total compensation in 2009.

#6 According to a report published in The American Journal of Medicine, medical bills are a major factor in more than 60 percent of the personal bankruptcies in the United States. Of those bankruptcies that were caused by medical bills, approximately 75 percent of them involved individuals that actually did have health insurance.

#7 Profits at U.S. health insurance companies increased by 56 percent during 2009.


It just goes on and on....You'll have to read the rest of the list and the other info at the main source article-IF you can bare to stand it. I feel like we all have big red SUCKERS!!! across our foreheads.

I think we can all agree that we need some type of medical reform. And, I think we can mostly agree that the Obamacare law IS NOT going to be the needed fix... or even a good start.

For the future of our country, please get involved and make these politicians do what is BEST FOR US not the medical companies and drug makers.

If we don't, if just maybe to the final straw to break the back......

This is a very interesting piece, I hope you read it all.
edit on 4/13/2011 by anon72 because: (no reason given)

posted on Apr, 13 2011 @ 08:55 AM
Very sad news, unfortunatly I dont see it changing anytime soon. As long as poloticians have to raise millions of dollars to run for office this will continue.

posted on Apr, 13 2011 @ 08:58 AM
Once obamacare sets in the overall care across the nation will decline. I am already aware of two hospitals in my area that will close once the obamacare rise in costs force them into the red.

Everyone wants health care for an affordable cost. The mistake was thinking that a corrupt body such as the US government would ever institute such a thing. Most hardcore supporters have not the slightest comprehension of the true beneficiaries of the new health care system.

posted on Apr, 13 2011 @ 09:10 AM
I've been working for the healthcare industry for about four years now, and I'm an echocardiologist (ultrasound tech of the heart). I can personally attest to what you are saying. I have sat and watched as countless of our mothers, fathers, and grandparents have been systematically DRAINED of every cent that they have. We have a HUGE problem on our hands. Look at it this way... The typical echocardiogram is an ultrasound procedure of the heart. It is very thorough, and I could go as far to say that in THIS society (America) it is VERY much needed. That being said... the typical echocardiogram only takes a few things to perform. 1. An echo tech (make aprox 20$ per hour) 2. A cardiologist to read the test (make about 200$ to read the exam) 3. An ultrasound machine (250,000$ to purchase) 4. EKG stickers (50 cents). The typical echocardiogram costs the average American $2000 to perform! And the only piece of physical material for the test is the EKG stickers (50 cents). So after you pay me, the doctor, and for the stickers you have a cost of about $220.50 that went towards the person performing the test. So that leaves a profit of $1779.50! OH you say but you have to pay for the ultrasound machine! Well the average tech does about 8 echos a day... so thats $14,236 dollars a day, so you would have the machine PAID OFF in 17.56 days. Not to mention the larger hospitals have upwards of 5 to 10 echo techs. I just hope this puts things into perspective because the OP is more than correct. We need actual change people... the kind where we have to get off of sites like this and do something about it. Ok well I've had my rant for the morning lol but if anybody has ANY questions regarding the healthcare system and how it works I'll be happy to try my best in answering them, and thanks again OP S&F for sure!!

posted on Apr, 13 2011 @ 09:23 AM
reply to post by anon72

The whole concept of for-profit health care boggles the mind. It is predicated on holding back as much treatment as possible, in order to save money, in order to make higher profits. How does that cycle benefit the actual policyholders pouring vast sums into these companies?

Knowing many people have died, or at least might be in better physical condition, due to this practice infuriates me no end.

I wonder how many of these Health Care CEO's truly believe their respective companies did everything they could for their customers? Because if they make that kind of money and their patients didn't get everything they needed/deserved then there is a name for that kind of compensation...

Blood Money!

posted on Apr, 13 2011 @ 10:24 AM
reply to post by Hessling

Exaclty what it is-- BLOOD MONEY.

Good term.

What can we do about it though? Seriously. We are hostages to the system and can't change it (with the conventional ways anyway).

posted on Apr, 13 2011 @ 12:30 PM
reply to post by nathanscottecho

We need people like you, your professional types, to come out/forward and yell from the mountain tops.

But, what do you do? Ruin your lifestyle-to be a hero for a moment in time..... and, not everyone will think you are a hero etc etc etc.

I wish you could stand up without reprecussions but I doubt you can... and that it probably won't stop them.

I appreciate you sharing you side/view of things.

posted on Apr, 14 2011 @ 12:53 PM
Not a problem at all thank you for posting this. I've been doing this for a few years now and It's bad enough to make me want to leave the field. And sadly it's not even easier for the guys here in the hospital either. I had simple lab work done a few months ago and it cost me $300! And that's with the good insurance the hospital offers. Haha lord help us. But it's all of these things coming from all sides that are going to finally affect EVERYONE. And that's a good thing! The American populace will only rise up and say WTF! when something is taken from each and every one of us and it becomes a personal issue. Keep on pushin us TPTB we're starting to wise up!!
edit on 4/14/2011 by nathanscottecho because: misspelled a word

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