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Given the $15,197 average cost of a stay in Mass. and average hourly private sector wage of $33.92, it would take 386 work hours to pay the bill.
For scale, cutting administrative costs to peer country levels would represent roughly one-third to half the gap. A 2009 study from Price Waterhouse Coopers estimated $210 billion in savings from unnecessary billing and administrative costs, a figure that would be considerably higher in 2015 dollars. [50] Cost variation across hospital regions.
The cost of living calculator also breaks down the difference in typical costs between the two locations, including average rent and home prices. Let’s say you currently live in Joplin, Missouri ...
Administrative costs. About 25% of U.S. healthcare costs relate to administrative costs (e.g., billing and payment, as opposed to direct provision of services, supplies and medicine) versus 10-15% in other countries. For example, Duke University Hospital had 900 hospital beds but 1,300 billing clerks during 2013.
Select statistics are available at a national- and county-level. HCUPnet can also be used for trend analysis with healthcare data available from 1993 forward. HCUPnet also includes a feature called hospital readmissions that provides users with some statistics on hospital readmissions within 7 and 30 days of hospital discharge.
A cost of living adjustment (COLA) is a change in monthly Social Security benefits that accounts for inflation. In a high-inflation environment, you may see a more dramatic COLA increase.
A Part A deductible of $1,632 in 2024 for a hospital stay of 1–60 days. [36] A $408 per day co-pay in 2024 for days 61–90 of a hospital stay. [36] A $816 per day co-pay in 2024 for days 91–150 of a hospital stay, as part of their limited Lifetime Reserve Days. [36] All costs for each day beyond 150 days [65]
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