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.
- Jul 30, ’14 The Best of Peter Drucker
- Jul 23, ’14 For Arab Christians and secular Arab nationalists, Isis may be the death knell
- Jul 19, ’14 British Government Picks Illumina to Sequence 100,000 Genomes
- Jul 18, ’14 Zoella herself barely watches TV: “My generation, at least the ones I know, are like 70-30 YouTube”
- Jul 18, ’14 The news that business doesn’t want to hear