Health Reform: A new study finds overhead costs exploding under ObamaCare, the opposite of what was supposed to happen. Keeping track of all the solemn promises broken by this law is getting harder and harder.
Once upon a time, the White House claimed its health overhaul would "lower premiums by reducing administrative costs." It promised this to doctors, hospitals and the public.
Now, more than five years into the grand ObamaCare experiment, it turns out that when it comes to overhead costs, less meant more. Lots more.
Using national health spending data from the Centers for Medicare and Medicaid Services — the same agency that runs ObamaCare — City University of New York public health professors David Himmelstein and Steffie Woolhandler found ObamaCare increased health care overhead costs by $17 billion last year and will add a total of more than $270 billion by 2020. They published their findings on the Health Affairs blog .
They also figure that 45% of ObamaCare's costs last year went to paperwork, not patients, and that even though the annual share figure will decline as the years go on, overhead costs will account for 22.5% of all new ObamaCare spending from 2014 to 2020.
"This number — 22.5% of all new spending going into overheard — is shocking even to me, to be honest. It's almost one out of every four dollars is just going to bureaucracy," Woolhandler told TheHill.com.Read the rest of the IBD editorial HERE.
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