Health care in America is ludicrously expensive

AMERICA'S hospitals are the most expensive part of the world’s most expensive medical system. Health care consumes nearly a fifth of economic output; 31% of that goes towards hospital care alone, some $850 billion in 2011. Considered on a cost per patient per day basis, Americans spend more than four times as much on hospital care as many other countries. Yet the costs are highly variable: 10% of hospital patients paid more than $12,000 a day while 25% pay less than $2,000. In an attempt to make things more transparent, the Obama administration released a nationwide price list last month. "Obamacare" will bring health care coverage for all Americans starting in 2014. Though it will expand the pool of patients, the government will pay lower rates—hopefully forcing hospitals to become more efficient. See full article.