It’s even more than that.
Bottle of aspirin costs the store(hospital) $10
Hospital bills insurance $1000 for bottle of Aspirin
Insurance pays hospital $100 for bottle of Aspirin, charges customer $400 ‘co-pay’
Hospital takes ‘loss’ of $900 on accounting and taxes (but in reality made 90$ tax free, 90% profit)
Insurance makes $300 risk free premium off customer co-pay
This is the modern medical insurance fraud
The reason they didn’t publish prices, is because every hospital in the country is running an insurance/tax fraud scheme.
They’ll ‘mark up’ their services, for example charge $1000 for a cat scan that probably cost them $10 to perform.
The insurance company, or Medicare, will ‘pay’ $100 for it but bill the patient $500 co-pay
The hospital then ‘marks down’. i.e. takes a 900$ loss
The insurance company makes 400$ (400% profit )
The hospital likewise makes a 1000% profit, tax free, but marks it as a loss on their books.
The patient get screwed, paying 500x more than what it would normally cost.
GET IT? This is the modern medical insurance accounting scam
Allows him to fire civil servants if they can institute ‘policy’
Meaning that it offsets all their income so they operate at a loss/not-for profit status