Dr. Thomas Lewandowski, a Wisconsin cardiologist, had a tough choice to make in 2010 after the federal government yet again reduced the payments he received for treating Medicare patients: He could fire half his staff to keep his practice open, or sell it to a local hospital. He sold, becoming one of more than 6,000 employees at ThedaCare, which runs five hospitals and numerous clinics in the northeastern part of the state. Lewandowski is among thousands of once-independent doctors who are joining with hospital chains to stay afloat, a trend that threatens to raise the price of health care even as the federal government strains to keep a lid on costs.
Under Medicare’s tangled payment system, hospitals get higher reimbursements than individual doctors for cardiology treatment and other specialty services—in some cases a lot higher. The program pays a hospital $400 for an echocardiogram, $180 for a cardiac stress test, and more than $25 for an electrocardiogram, according to data from the American College of Cardiology. At a private physician’s office, Medicare pays $150 for an echocardiogram, $60 for a cardiac stress test, and $10 for an electrocardiogram.
- Dec 5, ’13 Big Automakers Won’t Build the Car of the Future, Small Inventors Will
- Dec 5, ’13 Arguments Fly During FTC Workshop on Native Advertising
- Dec 5, ’13 How Crazy is the Auto Financing Frenzy?
- Dec 4, ’13 The dirty secrets of clean cars
- Nov 30, ’13 Fraud problem makes Facebook more attractive to online advertisers, say ad insiders