$375 billion wasted on billing and health insurance-related paperwork annually: Study

Medical billing paperwork and insurance-related red tape cost the US economy approximately $471 billion in 2012, 80 percent of which is waste due to the inefficiency of the nation's complex, multi-payer way of financing care, researchers say. The researchers note that a simplified, single-payer system of financing health care similar to Canada's or the US Medicare program could result in savings of approximately $375 billion annually, or more than $1 trillion over three years.



from Today's Healthcare News -- ScienceDaily http://ift.tt/1BZtst8