What Is Driving the High Cost of Medical Bills?

One of the major aspects of almost any personal injury case is receiving compensation for expensive medical bills that were incurred due to an accident. Many people question why these bills are often so high though.

An article from TIME Magazine recently discussed what is driving medical expenses through the roof and offered several ways the government could reduce these costs while improving the care citizens receive.

Many medical professionals argue medical expenses are increasing due to a surge in the costs associated with liability coverage in the event of a Connecticut Medical Malpractice claim; however, an investigation determined businesses supplying the medical industry are putting extravagant mark-ups on their products. In some cases, the mark-up for an item can be as high as 10,000 percent of the actual cost of making the product. Experts say the companies can charge these prices because patients essentially have no choice but to pay it.

Experts believe the only way to remedy the problem is by controlling the costs of medications, medical devices, taxes, and fees. Also, limits and “safe-harbor” defenses should be established for testing done only to prevent medical malpractice claims, rather than focusing on tort reform.

The Connecticut Personal Injury Lawyers with Carter Mario Law Firm understand how devastating the high cost of extra bills associated with a medical error can be for the victim. That’s why the firm is here to help if you have been hurt while under the care of a physician.