It is well-known that this can be it can be a stressful experience. The cost of hospital care is often high in addition to the emotional trauma that may result in a physical or mental injury due to a medical emergency. In the video below, we discuss some factors that explain why medical care in the United States is pricey.

in the U.S. it is often thought that private companies are more effective at producing goods and services with lower costs. American healthcare costs tend to be higher than in many nations.

You can get identical treatment in the same location at a price that differs. Individuals’ private insurance coverage will determine the price. A person with Medicaid or public insurance can be able to pay less due to having many more beneficiaries covered under medicaid.

Employers frequently provide insurance. It’s cheaper to purchase insurance for many employees , than the expense of buying individual coverage. Private insurance companies have an even smaller pool of consumers in comparison to Medicaid but they are required to negotiate pricing for each hospital individually. It results in different costs for similar procedures, and difficulty for the patient to understand what they can expect.

For more details take a look at the above video.

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