Allegations of a hospital chain's ruthless price-fixing explain why you pay so much for healthcare [Los Angeles Times (CA)]
Anthem, Inc. (ANTM)
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Source: Los Angeles Times
Allegations of a hospital chain's ruthless price-fixing explain why you pay so much for healthcare When big hospitals merge, the merger partners' mantra is almost always the same: The deal will deliver lower costs to the lucky patients, with no sacrifice in quality. California Atty. Gen. Xavier Becerra has just fired a high-caliber bombshell into this argument. In a lawsuit filed at the end of March, Becerra alleged that Sutter Health, a nonprofit chain that is the dominant hospital system in Northern California, ruthlessly exploited its size and reach to extract "illegally inflated prices" from insurers, employers and patients. Sutter's market power, Becerra says, has driven up in-patient costs in Northern California to the point that they're as much as 70% higher there than in Southern California. And that has "injured the general economy of Northern California and thus of the state." Rising healthcare prices, Becerra observes, force wages lower or allow them to rise more slowly tha
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