GrayBeard Wrote:I have always said that if we could control the lawyers, the insurance apparatus would work a whole lot better for all involved.
I completely disagree, Gray. Here's why:
1. Insurance companies usually collect about an average of 175 premium payments before a claim is filed. That is alot of money paid in. Then they categorically deny the claim. After a period of weeks, the claim is finally reviewed. Then after several weeks, they cut you a check. All the while, that client's money was in the bank, in escrow, collecting interest.
2. Lawyers are part of the insurance company's client list as well. Malpractice insurance isn't just for doctors.
3. Lawyers are controlled and the controls used are called "Laws."
4. Lastly, you've forgotten what commodity insurance companies are selling, peace-of-mind (there is no such thing).
5. In many states, people are required by law to have insurance.
6. This information is not available because if it were, then there'd be outrage against the insurance monoliths in this nation. Compare their annual monetary intake with what they pay out in claims and you'll find a hearty disproportionate amount in favor of accounts receivable. One insurance guy I know said he thinks about 5% of his company's income a year goes to pay claims (and this dude is my friend, he wouldn't lie). This same guy makes alot of money and he never graduated from college. He said his area manager (for Tupelo, MS) is making about $250-large a year in salary and my friend said his boss does nothing, NOTHING!
Not related to the above information, but here's how I caught doctors exploiting the insurance companies:
Back in 1996, I was working as a local truck-driver in Tupelo, MS. My company provided health insurance (with a $1500 annual deductable) and I was having some health problems. I went to my family doctor who scheduled an appt. with a specialist. The specialist scheduled an MRI (rougly $1500 a pop). My company knew that I was strapped for cash so my boss sent a blank check with me to pay for the MRI. After my exam, I paid the bill (or my boss paid it) with a check. Two months later, that medical group (Internal Medicine of Tup) sent in to my insurance company my claim (but the bill had been paid). Later, I got a letter from my insurance company which said they paid the bill (the claim) for that MRI I had done six months previous. That doctor doubled-dipped. The medical group took the cash payment from the patient and then they turned it in to my insurance company. What they did was fraud and I reported it to the state insurance auditor. I even called the billing org. that represents that medical group. The lady I spoke with that day became very defensive when I explained what happened.
If this happened to me, think of all the other times this goes on in which no one catches the doctor double-dipping! And, nothing every came of it from the state insurance commissioner!
Doctors, insurance companies, pharamaceutical groups, they are all evil and greedy. Where's the outrage!?!?!?!?
