The secret world of health-care pricing
The Relative Value Update Committee (RUC) is comprised of about 30 doctors who determine prices for medical procedures. Since Medicare accepts about 90% of the RUC's recommendations, private insurers are forced to follow. The RUC, therefore, has the influence and ability to price most medical procedures throughout the country.
Last edited by tsai3904; 06-15-2012 at 07:10 PM.
Interesting article. Besides the ridiculous manner in which non-negotiated health care costs are shoved onto the American public, it was interesting to see their particular example. Not counting the labor which was the focus of the article...but Johnson and Johnson was selling a little balloon...for 2600 dollars. And for a made up disease called Sinusitis that apparently 14% of Americans suffer from... Really sounds like a racket like 'restless leg syndrome'.