Thursday, September 6, 2012
Institute of Medicine: the U.S. wastes $750 billion on medical costs annually
Read this stunning report regarding medical dollar spending in the U.S. In short, the non-government, IOM has concluded the as much as 30 cents of every medical dollar spent is wasted due to "unneeded care, byzantine paperwork, fraud and other waste" - every year - to use an analogy -" If banking worked like health care, ATM transactions would take days" you can read all about the report here -
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And then there are the fraudulent research labs.
ReplyDeletethere are also people who push their own ideas and prevent others who have an alternative idea from publishing. If the science is good, the paper should get published - HGRVs and anything remotely related to XMRV aside - this goes on all the time - but you're missing the point here - the entire NIH budget that supports almost all biomedical research in the U.S. is around $31 billion dollar - if that $750 billion in waste figure could be reduced by just 10% - imagine how it would positively effect our whole economy and likely improve health at the same time!
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