• 20 JAN 18
    Hey Mister, would you take $.05 on the dollar?

    Hey Mister, would you take $.05 on the dollar?

    Sounds desperate; Sounds unacceptable; Sounds like hard times. Really? – no actually this all good, this is acceptable, this is during a period of economic expansion.

    I viewed a year-to-date summary of an individuals’ out-of-pocket healthcare summary. Here are the hard facts…

    –> YTD claims submitted for reimbursement $207,000

    –> Claims paid in full satisfaction $10,200

    –> Member co-pay out-of-pocket $3,580

    It is remarkable. The insurance company settled all $207,000 in claims under contract with reimbursements totaling $10,200. What does that equal? “Payment of $0.05 on the dollar.”

    Where is the outrage? Where is the call for remediation? How is it acceptable that the ‘system’ accepts the legitimate processing of $207,000 in claims and willingly participates, processes and accepts $0.05 on the dollar?

    Where is the other $0.95?

    Does the $0.95 appear in financial records in the form of revenue used to inflate the institutional performance? Are the dollars that make up the $0.95 in revenue used to inflate Accounts Receivables for leveraged borrowing? Are healthcare institutions, financial institutions participating in some type of Ponzi scheme to gain some type of reimbursement or credit from the Government to offset these imbalances?

    We are told that the healthcare industry represents a number measured in the trillions of dollars. Hmm….does that number take into account the $0.05 on the dollar formulation…or does it rely instead on propped up deliberately inaccurate data, data used only to advance some unexplained incomprehensible agenda.

    Perhaps we will never know. In the meantime, that’s my five cents ($0.05)!

    (by: Jonathan Morse)

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