Quotes About Administrative costs

A far better way to slow medical costs is to use Medicare and Medicaid's bargaining power over drug companies and hospitals to get lower prices and to move from a fee-for-service system to a fee-for-healthy-outcomes system. And because Medicare has far lower administrative costs than private health insurers, we should make Medicare available to everyone.

Medicare's administrative costs are in the range of 3 percent—well below the 5–10 percent costs borne by large companies that self-insure, even further below the administrative costs of companies in the small-group market (amounting to 25–27 percent of premiums), and much lower than the administrative costs of individual insurance (30 percent).

But instead, I decided to give a speech about the pride of giving and the importance of doing things without waiting for the government to do it for you. I pointed out that when individuals or private groups were involved in helping the needy, none of the contributions were spent on overhead or administrative costs, unlike government relief programs where $2 was often spent on overhead for every $1 that went to needy people.

The growth of medical expenditures in the U.S. is not caused by administrative costs but by increases in the technical intensity of care over time - a.k.a. medical progress.

With debt free college there is absolutely no incentive to rein in administrative costs when the government is foolishly pushing everyone to get a degree, regardless of need or desire, which only perpetuates the silly cycle for another generation.

Competition has taken place at the wrong levels, and on the wrong things. It has gravitated to a zero-sum competition, in which the gains of one system participant come at the expense of others. Participants compete to shift costs to one another, accumulate bargaining power, and limit services. This kind of competition does not create value for patients, but erodes quality, fosters inefficiency, creates excess capacity, and drives up administrative costs, among other nefarious effects.

Here in the UK the government has decided to accept the recommendations of the Better Regulation Task Force to measure and make targeted reductions in the administrative costs - the red tape costs - that regulations impose on business.