medical_Chart_big_pharma_spending

Institute Finds US Medical System Wastes $750 Billion Per Year

Now surely that’s a big number, and it’s really concerning just considering this fact — but I want to put this figure into perspective for you. After all, it’s hard to envision a billion dollars let alone 750 billion. The amount we’re talking about here is not only more than the entire budget for the US Department of Defense, or more than the 2008 banker bailout that everyone is so upset about.

It’s also enough to completely cover healthcare costs for 150 million US workers.

That’s how much the medical system is blowing each and every year. And it’s not on providing excellent care. In fact,according to the report, the ridiculous waste can be categorized a number of really disturbing ways:

  • Over $75 billion is wasted in straight up fraud.
  • A total of $55 billion or more is lost due to lack of preventative education and opportunity.
  • More than $190 is blown on unnecessary paperwork and administrative costs.
  • A plentiful $210 billion is spent on what has been deemed ‘unnecessary services,’ as in repeating tests over and over for really no reason.

Read more