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An explicit cost is a direct payment made to others in the course of running a business, such as wage, rent and materials, [1] as opposed to implicit costs, where no actual payment is made. [2] It is possible still to underestimate these costs, however: for example, pension contributions and other "perks" must be taken into account when ...
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. For example, Duke University Hospital had 900 hospital beds but 1,300 billing clerks.
Increasing or decreasing one results in changes to one or both of the other two. For example, a policy that increases access to health services would lower quality of health care and/or increase cost. The desired state of the triangle, high access and quality with low cost represents value in a health care system. [3]
A new report from the Kaiser Family Foundation estimated that the total cost of coronavirus treatment in a hospital could top $20,000 when factoring in out-of-pocket costs and insurance coverage.
Assembly Bill 774 was introduced to prevent hospital overcharging and other abusive collection practices. The legislation was opposed by the California Hospital Association. In 2004, Governor Arnold Schwarzenegger vetoed the bill, stating that voluntary guidelines adopted by hospitals to protect the uninsured were sufficient. [11]
For example, it has been estimated that cost shifting has amounted to $455 per individual, or $1,186 per family, in California annually. [ 12 ] However, because of the recent influence of managed care and other cost control initiatives by insurance companies, hospitals are less able to shift costs, and they end up writing off more and more in ...
For example, the hospitals may have two groups of patients. There are those who are covered by the government. From this group the hospital get fixed costs from the government. On the other hand, the second group of patients are those, who pay for their treatments. Those patients can buy more hospital care at a lower price.
Image source: The Motley Fool. HCA Healthcare (NYSE: HCA) Q4 2024 Earnings Call Jan 24, 2025, 10:00 a.m. ET. Contents: Prepared Remarks. Questions and Answers. Call ...