Healthcare Industry Profit Margins...

[blackangst1]

Originally posted by: shira

Originally posted by: Patranus

Originally posted by: RoborOh, and *shocking* Patranus is parroting Fox. Absolutely shocking. :roll:

Maybe you should look at all news sources and make an objective opinion instead of discounting something because it is on Fox News.

I wonder why Fox News has more viewers than CNN and MSNBC COMBINED?

I wonder why Fox News has seen record high viewership month after month while CNN and MSNBC has been losing record amounts viewers each month?

Could it be that they painted Obama as something he is not and now the American people are waking up? I don't know, just a thought.

The most widely read book on the planet year after year after year is the bible. Guess that means that what the bible says is true.

Some things are true whether you believe them or not 😉

 

[Engineer]

Originally posted by: blackangst1


Some things are true whether you believe them or not 😉

i.e. The things I believe in are true and the things that you believe in (and I don't) are not! 😀

 

[CallMeJoe]

Originally posted by: Patranus
Record profits are not directly related to profit margins. Oil companies made such large sums of money because of the VOLUME of business. The lower the profit margins the higher the risk - see Exxons last quarter.

Which gives the health insurance industry a vested interest in escalating medical costs; the higher medical bills go, the more money the insurance companies make at the same rate of return.
This volume for profit motive also works to make insurance companies oppose wellness programs, which reduce profits by reducing costs. Our current American profit-oriented medical industry benefits from illness, not health.

Maybe you should look at all news sources and make an objective opinion instead of discounting something because it is on Fox News.
I wonder why Fox News has more viewers than CNN and MSNBC COMBINED?
I wonder why Fox News has seen record high viewership month after month while CNN and MSNBC has been losing record amounts viewers each month?
Could it be that they painted Obama as something he is not and now the American people are waking up? I don't know, just a thought.

It's nice you were able to include one relevant statement in that post!

 

[ohnoes]

Originally posted by: Paddington

As someone who works in the medical field, at a typical ER probably 30% of the patients that you get are like this. In fact, you even get people who have some wrist pain at home and then call the ambulance (whose forced to respond), they get brought in, then say, "where's my Percocet M***** F*****!" You work on the Saturday night, and upwards of half the patients will be losers like this. :beer:

That's why real Emergence Medicine is one of the worst fields ever. It's got little in common with TV's "ER".

Yea, that's what my friend tells me all the time. Can't remember how often he b*tched about that during his residency. Also says that's why a bag of saline costs people with insurance a crapload of money 'cause it has to subsidize all the money-losing ER operations.

 

[Elias824]

so if health care is expensive isnt there more then one way to try to reduce the costs? A good chunk of this problem is due to our rather aged popuation, so in a few years it may not be as much as an issue anyways. Also insurance companies are still in competition with each other, in alot of ways these keeps costs down. If one company is a bunch of idiots and has a high overhead and charges to much, people will drop for someone else. Also why is it so EVIL to make a profit? It only seems wrong to me if your not providing any services or dropping people for no reason stuff like that.

 

[theeedude]

Health insurance companies (except Kaiser) don't provide any health services. None. They just take premiums, take a cut for themselves and payout the rest for other people's services.

 

[Atreus21]

Originally posted by: sandorski

Originally posted by: JS80
Apple has like a 15% profit margin. Why don't they vilify them?

Does Apple make Life/Death decisions about their Customers?

If they were to suddenly discontinue iphones, it may easily come to that.

 

[Atreus21]

Originally posted by: senseamp
Health insurance companies (except Kaiser) don't provide any health services. None. They just take premiums, take a cut for themselves and payout the rest for other people's services.

So they don't provide health care, they just pay for it....

That sounds to me like a service.

 

[WHAMPOM]

What do we have here? American healthcare(with fifty million left out of the system) at 18% of GDP Vrs. European UHC at 9% GDP. American healthcare rated down in the thirties, European from one to ten. American insurance overhead 20%, Gov run Medicaid 2.8%? Why are people so worried about inefficient Medical insurance companies going out of business? Are they deeply invested in the propoganda fed them by the CORP. tit?

 

[WHAMPOM]

Originally posted by: shira

Originally posted by: Patranus

Originally posted by: RoborOh, and *shocking* Patranus is parroting Fox. Absolutely shocking. :roll:

Maybe you should look at all news sources and make an objective opinion instead of discounting something because it is on Fox News.

I wonder why Fox News has more viewers than CNN and MSNBC COMBINED?

I wonder why Fox News has seen record high viewership month after month while CNN and MSNBC has been losing record amounts viewers each month?

Could it be that they painted Obama as something he is not and now the American people are waking up? I don't know, just a thought.

The most widely read book on the planet year after year after year is the bible. Guess that means that what the bible says is true.

You mean published book. People just lie about having read it. I got to the three headed beast before I lost it! LOL😀

 

[JS80]

Originally posted by: SammyJr

Originally posted by: Patranus

Originally posted by: sandorski

Originally posted by: JS80
Apple has like a 15% profit margin. Why don't they vilify them?

Does Apple make Life/Death decisions about their Customers?

No, the difference is that people would rather spend their money on a shiny new computer, iPod, or iPhone and not something important like healthcare. After spending their money on something pretty much meaningless, they bitch when they get sick because they didn't make the correct choice to get healthcare.

How much health care can I buy for $200?

You mean $200 + $150/month.

Originally posted by: SammyJr
And a single payer system would benefit from even larger economies of scale!

Do you have magic beans that will quickly grow doctors, nurses, medical centers, and other infrastructure related to medicine? Just as easy as building iPhone factories huh?

 

[Genx87]

Originally posted by: Atreus21

Originally posted by: senseamp
Health insurance companies (except Kaiser) don't provide any health services. None. They just take premiums, take a cut for themselves and payout the rest for other people's services.

So they don't provide health care, they just pay for it....

That sounds to me like a service.

They also negotiate pricing in bulk. Go try and work with a health provider for an individual rate cut for services and see what happens.

I am not going to deny we have some serious issues in our health industry. But puttng the blame on profit is simply ridiculous and a duhversion.

 

[theeedude]

Originally posted by: Atreus21

Originally posted by: senseamp
Health insurance companies (except Kaiser) don't provide any health services. None. They just take premiums, take a cut for themselves and payout the rest for other people's services.

So they don't provide health care, they just pay for it....

That sounds to me like a service.

Really, I got a service to offer you then. Next time you want to buy something, just send me the price + 25%, and I will pay for what you want to buy.

 

[theeedude]

Originally posted by: Genx87

Originally posted by: Atreus21

Originally posted by: senseamp
Health insurance companies (except Kaiser) don't provide any health services. None. They just take premiums, take a cut for themselves and payout the rest for other people's services.

So they don't provide health care, they just pay for it....

That sounds to me like a service.

They also negotiate pricing in bulk. Go try and work with a health provider for an individual rate cut for services and see what happens.

I am not going to deny we have some serious issues in our health industry. But puttng the blame on profit is simply ridiculous and a duhversion.

Government can also negotiate in bulk and not take a 20% cut.

 

[JeffreyLebowski]

Originally posted by: senseamp

Originally posted by: JS80
Apple has like a 15% profit margin. Why don't they vilify them?

Apple creates products and services. It contributes to GDP. Insurance companies simply take a cut of healthcare spending, they don't actually provide any health care themselves. If you think they do, go to insurance company headquarters instead of hospital next time you are sick.

You don't deserve to use a dollar sign as an avatar. You have no concept of how business works. You say insurance companies pay 80 cents on the dollar, leaving them with 20 cent of every dollar they make to do things like, pay employee's, pay taxes, pay for utilities, pay for advertising, pay for infrastructure AND somehow post a profit for share holders.

The level of stupidity and hate in this country is mind numbing. No longer are we a nation divided by color or gender, we are a nation divided by wealth. Namely spite for the people that are better offer. It's indicative of the culture of the 21st century America. Lazy-ness. Most of those "Rich" people got there because they worked their asses off and took huge risks to get there.
Look at Bill Gates and Steve Jobs. Both started worls changing companies out of garages.

 

[Elias824]

Originally posted by: WHAMPOM
What do we have here? American healthcare(with fifty million left out of the system) at 18% of GDP Vrs. European UHC at 9% GDP. American healthcare rated down in the thirties, European from one to ten. American insurance overhead 20%, Gov run Medicaid 2.8%? Why are people so worried about inefficient Medical insurance companies going out of business? Are they deeply invested in the propoganda fed them by the CORP. tit?

Well there realy is alot more numbers I think we have to look at here. Just because a big part of the GDP compared to Europe is in healthcare, that really dosent tell you a whole lot. Other then well its a big part of our economy. It might be because we are more sickly and obese, or just like or meds and plastic surgery.

The overhead for private insurance is higher then medicade but lower overhead isnt always better. What is the fraud rate of medicade vs. private insurance companies? How about the quality of care you can recive?

Everyone keeps arguing about the insurance companies being the "middle man" just taking a slice. But if we have a UHC your just making the govt be your middle man. Rather then having a bunch of smaller middle men in competition with one another.

Yes I am afraid of the insurance companies going out of business because it means we have to trust a few bureaucrats with our health and well being. We have to hope they make the correct decisions for us. Id rather make a wrong decision myself then have someone else do it for me. /Rant

Anyways im not really against a public solution, as long as it dosent cost 1.6T and destroy the private sector in the making. But my vote is we try things to actually help increase the amount of care available, I.e we make more iphones.

 

[LittleNemoNES]

Originally posted by: Patranus

Originally posted by: sandorski

Originally posted by: JS80
Apple has like a 15% profit margin. Why don't they vilify them?

Does Apple make Life/Death decisions about their Customers?

No, the difference is that people would rather spend their money on a shiny new computer, iPod, or iPhone and not something important like healthcare. After spending their money on something pretty much meaningless, they bitch when they get sick because they didn't make the correct choice to get healthcare.

I want a form of single payer but post hits the greatest weakness IMO

 

[nobodyknows]

Originally posted by: gersson

Originally posted by: Patranus

Originally posted by: sandorski

Originally posted by: JS80
Apple has like a 15% profit margin. Why don't they vilify them?

Does Apple make Life/Death decisions about their Customers?

No, the difference is that people would rather spend their money on a shiny new computer, iPod, or iPhone and not something important like healthcare. After spending their money on something pretty much meaningless, they bitch when they get sick because they didn't make the correct choice to get healthcare.

I want a form of single payer but post hits the greatest weakness IMO

And also the greatest strength. If everybody has healthcare then if they have money left over for a new iphone, more power to them.

 

[theeedude]

Originally posted by: JeffreyLebowski

Originally posted by: senseamp

Originally posted by: JS80
Apple has like a 15% profit margin. Why don't they vilify them?

Apple creates products and services. It contributes to GDP. Insurance companies simply take a cut of healthcare spending, they don't actually provide any health care themselves. If you think they do, go to insurance company headquarters instead of hospital next time you are sick.

You don't deserve to use a dollar sign as an avatar. You have no concept of how business works. You say insurance companies pay 80 cents on the dollar, leaving them with 20 cent of every dollar they make to do things like, pay employee's, pay taxes, pay for utilities, pay for advertising, pay for infrastructure AND somehow post a profit for share holders.

I don't want 20% of health care spending paying for this crap. None of it goes to provide health care to me.

The level of stupidity and hate in this country is mind numbing.

your post is a prime example

No longer are we a nation divided by color or gender, we are a nation divided by wealth. Namely spite for the people that are better offer. It's indicative of the culture of the 21st century America. Lazy-ness. Most of those "Rich" people got there because they worked their asses off and took huge risks to get there.
Look at Bill Gates and Steve Jobs. Both started worls changing companies out of garages.

Actually, the insurance industry is the prime sign of this lazyness. People want to get rich providing "financial products" shuffling money around and taking a cut instead of creating real value for consumers like Apple and Microsoft are doing.

 

[ElFenix]

Originally posted by: senseamp

Originally posted by: JS80
Apple has like a 15% profit margin. Why don't they vilify them?

Apple creates products and services. It contributes to GDP. Insurance companies simply take a cut of healthcare spending, they don't actually provide any health care themselves. If you think they do, go to insurance company headquarters instead of hospital next time you are sick.

yeah, risk spreading and pooling isn't worth anything!

 

[Elias824]

Originally posted by: ElFenix

Originally posted by: senseamp

Originally posted by: JS80
Apple has like a 15% profit margin. Why don't they vilify them?

Apple creates products and services. It contributes to GDP. Insurance companies simply take a cut of healthcare spending, they don't actually provide any health care themselves. If you think they do, go to insurance company headquarters instead of hospital next time you are sick.

yeah, risk spreading and pooling isn't worth anything!

yeah those lousy middle men, we should get rid of bank and credit card companies too, ill just make my payments straight to the people I owe it too. Who needs car dealships anyway they dont make any products they are just middle men jacking up the price. Not to mention retailers those evil people, they are making more money by doing nothing! /s

 

[ohnoes]

Originally posted by: ElFenix

yeah, risk spreading and pooling isn't worth anything!

Its hard to spread risk when most people get pretty sick at some point or another. But that's why they look for pre-existing conditions & whatnot to avoid pooling together people with higher risk, and so the problem goes back to there is no incentive for insurance companies to cover everyone.

 

[Patranus]

Originally posted by: ohnoes

Originally posted by: ElFenix

yeah, risk spreading and pooling isn't worth anything!

Its hard to spread risk when most people get pretty sick at some point or another. But that's why they look for pre-existing conditions & whatnot to avoid pooling together people with higher risk, and so the problem goes back to there is no incentive for insurance companies to cover everyone.

So why should a company do its customers a disservice to insuring someone who has a preexisting condition?

Should a life insurance company be required to provide life insurance at affordable rates to someone with cancer that is terminal in 99.99% of cases?

 

[Elias824]

This is probably the biggest flaw with private sector insurance, but do we really need UHC to fix that? maybe we could just toss out some new legislation to deal with that issue. Give tax breaks to companies that dont do that sort of thing, or just fine them if they do. Maybe we could have a public solution, but we dont need to destroy the private sector to do that. Think of Fedex, USPS, and UPS.

 

[theeedude]

Originally posted by: ElFenix

Originally posted by: senseamp

Originally posted by: JS80
Apple has like a 15% profit margin. Why don't they vilify them?

Apple creates products and services. It contributes to GDP. Insurance companies simply take a cut of healthcare spending, they don't actually provide any health care themselves. If you think they do, go to insurance company headquarters instead of hospital next time you are sick.

yeah, risk spreading and pooling isn't worth anything!

Govt can spread and pool risk without taking 20% cut.