America spends more on healthcare than any other developed nation, accounting for $4.1 trillion in spending each year, or nearly 20% of gross domestic product. As healthcare costs continue their upward trajectory, Americans are calling for solutions to address the driving forces behind price increases year over year. These price increases have real consequences for families and businesses already struggling with historic inflation and an uncertain economy.
In order to lower healthcare spending, hospital pricing needs to be addressed. Today, hospital services now represent the largest share of total healthcare costs, as nearly 40% of every dollar spent on healthcare in America goes to hospitals. Meanwhile, the prices hospitals charge have soared 600% since 1991. The examples below highlight how hospitals contribute to America’s healthcare cost crisis:
- New York hospital sued over 2,500 patients for outstanding bills despite receiving over $1 BILLION in emergency taxpayer funding during the pandemic. Full story: http://bit.ly/3hZlkDl
- Hospitals have been found to increase revenue through parking fees…At one hospital, cancer patients reported paying over $1,680 in parking fees while receiving treatment in the hospital. Full Story: http://bit.ly/40YakMo
- A recent study found America’s “nonprofit” hospitals collected $28 billion in tax savings in 2020, yet only utilized $16 billion toward providing charity care. Full Story: http://bit.ly/41odvgd
- This study found hospitals increase revenue through parking fees — some cancer patients pay up to $1,680 in parking fees while receiving treatment in the hospital. Full story: https://bit.ly/3pczQLA
- In Richmond, a couple received a rabies shot expecting it to be $500, they were shocked when they received a bill for $18,582.65 for ONE dose. Full story: https://bit.ly/3dkX8ZR