The financial aspects of medical care are often confusing and poorly understood. This is in part due to a “hidden mystique” about medical costs and billing practices by physicians, allied health providers, hospitals, and insurance companies. The introduction of the Affordable Care Act (“Obamacare”) adds another level of complexity and uncertainty about health care and its costs for the future.
Many wonder why medical care is so costly. This is a complex matter with many contributing factors and cannot be completely addressed here. We have found goodmaninstitute.org and guroo.com to be examples of helpful resources regarding healthcare and its costs.
Some of the factors contributing to the cost of physician charges include the increasing dependence on computer technology, the increasing burden of government and insurance regulations, and the increasing cost of medical liability insurance. All of these require additional staff and consultants to run the business aspect of medicine.