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These were two of the hundreds of maternity wards to close across the U.S. in recent years—more than 217 since 2011, according to the health care consulting firm Chartis, leaving many women in ...
Firms which experience wage compression usually value higher-skilled workers more than their lower-skilled counterparts because they have a higher level of productivity relative to their wages. Because of this, firms are less likely to make these employees redundant when costs need to be lowered and firms will prefer to keep high-skilled workers.
There are many reasons why U.S. healthcare costs are higher than other OECD countries: Administrative costs. About 25% of U.S. healthcare costs relate to administrative costs (e.g., billing and payment, as opposed to direct provision of services, supplies and medicine) versus 10-15% in other countries.
As high-deductible health plans rise across the country, with many individuals having deductibles of $2500 or more, their ability to pay for costly procedures diminishes, and hospitals end up covering the cost of patients care. Many health systems are putting in place price transparency initiatives and payments plans for their patients so that ...
Americans spend more out of pocket on health care than people in most comparable countries, the health policy nonprofit KFF found. In the United Kingdom, for example, out-of-pocket health care ...
Revenue for the medical patient-financing industry was $15.3 billion in 2023, according to a report by the research firm IBISWorld, which found that as health care becomes less affordable due to ...
The theory of compensating wage differentials, by Adam Smith, provides a theoretical framework of the ideology behind pay differences. The theory explains that jobs with undesirable characteristics will compensate with higher wages compared to the popular, more desirable jobs, who provide lower wages to its workers. [13]
Roughly 150 health care workers will rally and picket Wednesday outside the Sutter Center for Psychiatry in Sacramento, protesting wages and staffing levels at the hospital run by Sutter Health.