Many years ago Harvard released a study titled” Medical Bills Leading Cause of Bankruptcy in America“. And it appears as though nothing has changed since then.
In at least one version of the above referenced study, the author seems to suggest that bankruptcy arising from a medical condition can result from being disabled and not able to work. But when a hospital charges a patient $50,000-$1,000,000, for a short stay as is common in so many of these cases, then it doesn’t matter whether someone’s employed or not employed. An unexpected $50,000 expense is enough to bankrupt most families, working or not. Many folks have no idea how much a hospital visit can change their lives in a just a few short hours.
And to make matters worse, and drawing from personal experience, the hospitals don’t waste anytime trying to collect on these debts either. Many will not hesitate to begin legal proceedings within weeks of a patient being released from the hospital, many times while the patient is still recovering and lying flat on their back incapacitated.
Yet despite the mass damage to society, numerous warnings and calls for reform, nothing has changed, hospitals and big pharma are still free to name their own prices and charge whatever they want with none to very few restrictions. In fact, thanks to GW Bush our very own federal healthcare system is explicitly banned from sourcing or even negotiating for better prices. Obama extended this destructive policy during his first term. No other civilized society in the world has a system like this. Only in America.
The most recent victim making headlines this week is a family facing the choice of either filing for bankruptcy and losing everything they have. Or getting sued and losing everything they have. Their crime? having a baby in America. The hospital billed them almost 1 million dollars for a 6 week stay. How does anyone justify charging someone $165,000 per week for a bed at a hospital? And why have we allowed this to go on for so long?
For the sake of remaining on topic. This is exactly what the medical establishment would like to do with marijuana and marijuana extracts. Give them the opportunity and they will turn medical marijuana into a $100,000 treatment as well.