Everybody knows about exorbitant hospital prices, but data compiled by National Nurses United (NNU) shows that many hospitals, especially the for-profit ones, are price gouging their patients. Many for-profit hospitals, according to NNU, actually charge patients more than 10 times what it costs to provide care.
“Such inflated practices continue to price far too many Americans out of access to needed medical care or expose them to financial ruin," says NNU Co-President Jean Ross, RN. "It’s long past time to rein in the price gouging and recognize that a health care system based on profiteering puts all of us at risk.”
The top 14 U.S. hospitals charge more than $1,000 per every $100 of their actual costs, according to NNU. New Jersey leads the country in hospital costs with Meadowlands Hospital Medical Center in Secaucus at the top, charging $1,192 for every $100 of its costs. The top 100 hospitals nationwide have a charge-to-cost ratio, on average, of 765%, while the national average is 331%.
Many of the most expensive hospitals are owned by two massive hospital corporations, Community Health Systems and Health Management Associates, NNU reports. The two companies are pursuing a merger that NNU says would raise costs even further. For-profit hospitals, in general, charge much more than the national average at 503% of costs. Meanwhile, public hospitals at all levels average 245% of actual costs, more evidence that government-run enterprises often do better than privatized services. Maryland, which NNU says is probably the most regulated state in terms of medical charges, has the lowest average charges.
“The lesson here is that the critical work of real health care reform is far from complete,” Ross says. “As long as our health continues to be held hostage by hospitals and other corporations more focused on profits than care, Americans will be at risk.”
Ross says NNU would continue to stand up for patients:
Nurses will never stop fighting for transformation of our inequitable health care system to one based on patient need and quality care for all. The numbers for bankruptcy and financial ruin from medical bills plummet at age 65, when people qualify for Medicare. The best solution is to expand and update Medicare to cover everyone and take the financing of health care out of the hands of the profiteers.