Cleveland Clinic President and CEO Dr. Toby Cosgrove was on Fox News with Maria Bartiromo on Sunday to talk about the costs of Obamacare. He said that three quarters of those who enrolled are paying higher premiums. “About three quarters of them find their premiums are going to be higher than what they had previously.”
But even though premiums are going up, payments to providers are not. Cosgrove went on to say that hospitals and providers are going to be paid less for providing care. “Medicare is taking about $415 billion out of Medicare expenses over the next ten years. So hospitals are going to be paid less for what they do.” He didn’t mention the doctor shortage, but I doubt these cuts are going to help.