Medical costs in America

In America, the land of the fee, the high cost of medical care means you must be insured.

If your medical treatment in the States doesn’t cause you pain, the bill at the end of it almost certainly will. America is well known as one of the most expensive places in the world to fall sick, and there are a number of reasons for this. In fact, it’s a perfect storm of billing, bulking up and bureaucracy that adds mightily to the bottom line.

Opaque pricing

First of all, there’s a lack of price transparency. Healthcare costs in America are not only not transparent, they are positively opaque and patients are often unaware of the cost of certain treatments until they receive their bills. This is the land of the unforeseen add on, and the lack of transparency can result in healthcare providers super charging the prices for their services and sneak those extras onto the invoice.

Adminis-flation

Another reason is administrative costs. An American salary is often said to be something to be envied, but when it comes to medical care, you or your insurance company may have to foot the unenviable bill. The administrative costs of healthcare in America can be inflated too because those same insurance companies, hospitals, and doctors’ offices all have extensive administrative staffs on professional salaries, which can drive up the cost of healthcare.

Profit-driven

America is the one of the most profit-driven nations on earth. It’s been said America is built more on wealth than welfare, and the healthcare system in the States tends to be profit-driven. Whether it’s a hospital, an insurance company, or a pharmaceutical company, shareholders demand big dividends, while doctors and surgeons can often command hefty fees. This in turn can significantly pump up the price for healthcare services and medications.

Big pharma

You can’t have healthcare costs without big pharma coming to the party. The cost of medical technology and drug development is often higher in America than in other countries. R&D and the non-stop pharma pipeline requires clever people working long billable hours, and a pro-profit government prefers not to get too involved in the regulation and negotiation of prices.

Lawyer up

Last but by no means least, you have to factor in the very real chance of a costly medical malpractice lawsuit. If something goes wrong for whatever reason, someone has to pay. That’s why lawyers and their arm and a leg lawsuit are more common in America than in many other countries. Doctors and hospitals have to take out mega bucks malpractice insurance policies to protect themselves from litigation. Where do you think those costs get passed on to? No prizes for guessing it’s the patient, in the form of higher healthcare prices.

The Superyacht Crew Medical Insurance Plan

All of these factors make it imperative that before you set foot on American soil you have to protect yourself with good quality medical protection. Fortunately, you don’t have to look far. Our Superyacht Crew Medical Insurance Plan is:

• Tailored to your needs
• Has a single point of contact
• Offers a wide network of healthcare providers and hospitals around the world
• Takes into account the globetrotting lifestyle of international yacht crew

Medical insurance. It isn’t exciting, but it sure is essential, especially in the USA.

Before you set sail again, make sure you take time out from your busy schedule to talk to us about a lifetime of first-class life and medical protection.

For further information talk to us.

MOORE STEPHENS CREW BENEFITS

Melanie Langley – Senior Crew Benefits Adviser
melanie.langley@mscb.im
+44 (0)7476 592592
Skype: melanie.langley.mscb

Written by Michael Weare, March 2023.