Originally published September 10, 2012
The influential Institute of Medicine has completed a comprehensive review of the nation's health care system, and here's the frightening diagnosis: Nearly $750 billion a year is wasted on unnecessary care, excessive administrative costs, fraud, duplication and poor communication.
The institute's conclusions may not be surprising to anyone who has had to reschedule an appointment because tests results were not available or to repeat a procedure in order to get accurate data. In fact, the group's study found that 20 percent of patients experienced the former and 25 percent the latter.
