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$25 million UnitedHealth CEO whines about social media trashing his industry
(www.thedailybeast.com)
this post was submitted on 08 Dec 2024
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Just being Devil's Advocate here: Medicare fraud is a thing - docs who prescribe, or claim to have performed, unnecessary treatments, which may be as much as $60B (out of $900B spending, so...7-ish%). Maybe not enough to justify UHC's 32% denial rate. And nobody seems to source their $60B or $100B fraud estimates - I can only find case evidence for a few hundred million, and those are cases spanning years.
That's not a reason to deny claims for cancer treatment. If fraud is their worry, have a fraud team to investigate, don't cut off coverage when your life saving operation runs an hour past the allotted time.
Sounds like it would be easier to have a single government entity focused on fraud and Healthcare outcomes though.
The main arguement for private health insurance is that it will help better optimize how healthcare is distributed, but in a capatilistic society it seems unlikely we'd get anything other than means based optimization. However, Healthcare shouldn't be optimized for financial status, but most likely should be optimized for optimal coverage.