In 2014, the net cost of health insurance in the US was almost $200 billion, mostly for billing expenses. How can these costs be lowered?

1. Medicare Paperwork For All
Full article on BloombergView
PETER ORSZAG

2. In making his case for universal health care, Senator
Bernie Sanders has reignited a debate over whether the
U.S. should have a single-payer system.

3. But it’s possible to simplify billing and claims processing
in health care without making such an extreme change.

4. In 2014, the net cost of health insurance in the U.S. was
almost $200 billion, mostly for billing expenses.
$200BILLION

5. These costs can readily be lowered.

6. Other countries with mixed private-public systems have
admin processes that cost 25% - 60% less than ours.
The Center for American Progress has assembled several
proposals that it estimates could save $40 billion a year.

7. First step? Simplify the transaction process involved in
billing and processing claims.

8. The consistency of a one payment-processing
system would reduce errors and save as much as:
25%ON CLAIMS PROCESSING

9. Instead of Medicare for all, as Sanders proposes,
perhaps we just need Medicare processing for all.

10. It may not sound as sexy, but it’s much more
achievable -- and would bring significant savings.

11. Read the full article at
BloombergView