https://www.youtube.com/watch?v=CeDOQpfaUc8
With references
I had not seen that one. Lots of truth indeed!
AND you have not looked into the arcane world of pharmacy bids company. Stick your nose into their billing, you are guaranteed a 20% discount (Oh, sorry we discovered several mistakes). But this is boring stuff for 2020 startups who "want to disrupt the industry".
Now you wonder why the Democrats are pushing TONIGHT last minute negotiations in DC to add another $250B in stimulus money. We'll sign ONLY if you carve out, say $50-100 Billions or additional money for...HOSPITALS!
You get it now?
Insurance companies have out-sized bargaining power and will only pay a fraction of the list-price for a procedure.
Doctor's know this, so prices inflate to the point where the negotiated price is in line with what they'll actually do it for.
Everyone who is not insured or not covered for that procedure ends up paying massively inflated costs.