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Waste in U.S. health care system
by Victoria Colliver
The U.S. health system wastes more than $750 billion a year - or 30 percent of medical expenses - in unnecessary, inefficient services, and each year tens of thousands of deaths could be averted through better care, according to a report released Thursday by the Institute of Medicine.
Here are some of the major areas of waste in the U.S. health care system identified by the Institute of Medicine report released Thursday. The estimates are in dollars per year from 2009:
- Unnecessary services: $210 billion
- Excessive administrative costs: $190 billion
- Inefficient delivery of care: $130 billion
- Inflated prices: $105 billion
- Fraud: $75 billion
- Missed prevention opportunities: $55 billion
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