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Thursday, January 24, 2008
Why are healthcare costs so high?
We've all heard it said that frivolous lawsuits are to blame. In 2001, malpractice claims accounted for 0.46% of total healthcare spending in the United States. A decade ago, administrative overhead accounted for a staggering 31% of total healthcare expenditures. But perhaps things have changed in the last decade... or perhaps not.
Why are administrative costs so high? A study in California offers an answer.
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