Medicare exists because the free market doesn’t work for elderly patients. Old people are profit eaters, so private insurers don’t want to cover their medical expenses. Medicare reimbursements are typically low compared to private insurance, so some health care providers are tempted to pad their bills. On Monday the PBS News Hour had a report on alleged Medicare fraud by Prime Healthcare in California.
Watch California Hospital Chain Eyed for Possibly Bilking Medicare for Millions on PBS. See more from PBS NewsHour.