Nation's Hospitals Agree to Forego $155B in Revenue
By Ceci Connolly
The nation’s hospitals have agreed to give up $155 billion in expected revenue over the next 10 years, money that will bring the White House closer to its goal of paying for broader health coverage, an industry source said tonight.
The agreement is between the White House, the Senate Finance Committee and the three major hospital groups: the American Hospital Association, the Federation of American Hospitals and the Catholic Health Association.
The hospital groups have agreed to reductions in Medicare payments, and the money they receive for providing uncompensated care will start being reduced.
An announcement laying out the agreement is expected Wednesday morning.
Drug manufacturers have already agreed to contribute $80 billion over the next decade.
Lawmakers are scheduled to take up health-care legislation this week, perhaps as soon as tomorrow.
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July 6, 2009; 9:17 PM ET
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Posted by: DEMOCRATZoORG | July 6, 2009 9:58 PM | Report abuse
that sound you hear is the cringing of those of us with private insurance plans when we hear how much this will cost us now.
Cost-shifting at its best. Its amazing how well Obama plays the shell game. First Pharma increases their costs over the last 6 months and then pledges $80 billion in decreases and Obama buys it. Now hospitals. Who's next up to lie to us all?
Posted by: visionbrkr | July 6, 2009 9:59 PM | Report abuse
visionbrkr, that sound we hear is the panicked scrambling of the axis of evil, insurance corporations, drug companies and the American medical association.
They are quickly throwing out meaningless concessions because they know a public health insurance program will mean the end of their monopoly.
Posted by: seemstome | July 6, 2009 11:41 PM | Report abuse
I was at a barbecue on the 4th, talking with a couple I hadn't met beofre. We're all in our 50s, so there was some moaning about the health issues of that decade.
This couple tells me they pay just over $2K a month for private health insurance for the 2 of them (they run their own small business). They tell me only one company would even offer them a policy. They tell me that their pre-existing conditions are not covered (by 55 or so, everything is a pre-existing condition)so they are picking up a lot of uncovered expenses.
I figured they'd be ready for helath care reform, right?
No, they worry that they will have to pay to insure a lot of other people!
They are missing the fact that *their* premiums will drop and their coverage will improve. They are missing the fact that now their insurer can drop them at any time between now and 65 and they will be UNINSURED until they qualify for Medicare.
Insured people need to look at what they are paying and what they are getting and realize that this system we use now is a mess. About the only people with well-defined coverage at a reasonable cost are government employees. That program pays for itself and should be available, at cost (what the employee pays directly plus what the Feds pay in), to everyone in this country.
Posted by: margaretmeyers | July 7, 2009 6:56 AM | Report abuse
TELL THE DEMOCRATIC PARTY
To quit spending money that TAXPAYERS DO NOT HAVE!!!
Posted by: russpoter | July 7, 2009 8:08 AM | Report abuse
TELL THE DEMOCRATIC PARTY
To quit spending money that TAXPAYERS DO NOT HAVE!!!
Posted by: russpoter | July 7, 2009 8:09 AM | Report abuse
Let's spend less on war and defense and more on health care. Let's screw the rich for a change instead of the poor taking it up the wazoo. Let's beat the insurance and drug companies at their own game. Call your representatives. Let them know you count.
Posted by: seemstome | July 10, 2009 8:51 AM | Report abuse
to margaretmeyers:
WHEN IT COMES TO REPUBLICANS, YOU CAN'T PUSH A ROPE AND YOU CAN'T TEACH A DOPE. THEY DON'T MATTER BECAUSE THIS TIME WE DON'T NEED THEM. ALL DEMOCRATS HAVE TO DO IS STICK TOGETHER.
Posted by: seemstome | July 10, 2009 8:59 AM | Report abuse
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TELL THE DEMOCRATIC PARTY THAT YOU HAVE HAD ENOUGH OF MODERATES AND CONSERVATIVES IN OUR PARTY SABOTAGING PROGRESSIVE LEGISLATION
HTTP://BIT.LY/to_the_dnc
SIGN THESE PETITIONS FOR SINGLE PAYER HEALTH CARE.
HTTP://BIT.LY/single_payer
HTTP://BIT.LY/single_payer_baucus