Health care industry on track for massive profits

[Julian Englis]

Source: Axios

With more than a week to go in the second-quarter earnings season, the health care industry has already banked more profits than any other quarter in the past year.

The bottom line: Company after company has posted profits that have exceeded Wall Street estimates, and most firms have raised profit estimates for the rest of 2018.

By the numbers: As of Aug. 2, 85 publicly traded health care companies have amassed $47 billion of global profit on $545 billion of global revenue in the second quarter, according to company documents.

That profit is higher than the $45.6 billion that 118 health care companies posted in the first quarter of this year, and it's higher than anything recorded in the past year.


Read more: https://www.axios.com/health-care-industry-on-track-massive-q2-profits-1533226387-dacec8f8-c9f5-406c-a49e-1103e3316c64.html

[Bengus81]

1. No shock to me when a company like BCBS of Kansas charged me.........

a little less than $300 per month back in 2012 for my health care. When the ACA got rolling the policy I had with them (silver) was basically the exact same policy with a fairly low deductible until last year when the deductible went ridiculous. Even with a $7,000 deductible they were charging myself and the ACA nearly $1200.00 per month.

I started on Medicare 48 hours ago so they've lost the big buck policy they had on me. How much did I have in claims from 2012 thru 2018....ZERO.

[Snellius]

2. BCBS is not nonprofit anymore. It's a computerized con

I recently asked them about a dental plan. They wanted to charge $900 a year for a policy that caps out at $800 for only partial coverage. Even the very frank salesperson conceded that she was surprised how many people go for it.

They seem to spent most of their energy on extremely sophisticated software that can calculate their cost/liability analysis down to the penny, almost in real time. The big trick with Medicare is finding out if it will cover costs IN FULL, which many doctors are not very upfront about. The overcharge can break your bank.

[democratisphere]

3. The American Criminal Enterprise Healthcare System will eventually

price themselves out of business. It is the epitome of greed and corruption!

[Ohiogal]

4. No surprise

that the pharmaceutical companies are sitting atop of the profit pile!

I thought Benedict Don promised to fix this???? Another one of his empty promises.

[Dustlawyer]

5. As a personal injury attorney I have seen ER visits after accidents running

$10,000 - $18,000 for basic exam, x-rays etc. Couple that with physical therapy and a couple of doctor visits and the minimum auto insurance policies of $30,000 in Texas and you have no money for the pain and suffering for the client after the attorneys fees.

Medical costs have gone through the roof and there is no “free market” check & balance to keep costs down. How do you shop for medical care to get the lower priced options other than going without certain treatments?

We need universal health care!!!

[groundloop]

6. And the system you describe is what GOPers say they're happy with - unbelievable.