A shocking tweet thread is proving that America's healthcare system is the stuff of nightmares.
Owen Davis, a reporter at Dealbreaker, went to the hospital in June after he sliced his hand while chopping vegetables. Though it only took 45 minutes to stitch his hand, the hospital charged his insurance $14,018. Davis tweeted his understandable reaction to the enormous bill on November 1 — and simultaneously exposed a major issue with America's healthcare policies.
He tweeted that this is "the most bonkers medical bill I've ever received."
That's an understatement.
Unfortunately though, the $14,000 price tag is normal for America's hospitals — and that's the problem.
A June 2015 study in "Health Affairs" showed that all hospitals charge patients and their insurers 3.4 times more than the federal government believes is appropriate. A patient can spend upwards of $4,000 a day in a hospital, which The New York Times pointed out is five times more than what hospitals in other developed countries charge.
However, medical procedures don't cost as much as these numbers suggest.
Hospitals are marking up the price of their procedures to cover additional costs, like medicine, administrative salaries and fees, and medical equipment, according to David Cutler, an applied economics professor at Harvard.
He told PBS that there are three specific reasons America's healthcare system is so flawed: Americans receive more medical care than people in other countries, hospitals spend a ton of money on branded drugs, and the rising costs of administrative fees.
Worst of all, Cutler, who worked with president Obama on healthcare issues, said that it will take between 15 and 20 years for prices to fall.
So, in the meantime, prepare for astronomical hospital bills — and the apocalypse too.