A report by the Institute of Medicine estimates that as much as $750 billion is wasted in the U.S. health care system each year. Three quarters of a trillion dollars. Every year. As the Wall Street Journal notes, that’s bigger than the Pentagon budget, amounting to roughly 5 percent of GDP.Call me crazy, but I don't think Obamacare will help...
The report offers a familiar laundry list of problems. Unnecessary services are the leading driver of waste, but administrative expenses and inefficient care are not far behind.
Saturday, September 08, 2012
Waste Not, Spend Not
Our health care system now costs more than national defense: