- Posted January 22, 2013 by
This iReport is part of an assignment:
Medicare death costs $50,000
One doesn't have to look very far to see that one-third of all Medicare payments are for the care of patients with chronic illnesses during their final two years. Much of that goes toward physician and hospital fees associated with repeated hospitalizations. Fact is, the average Medicare death costs $50,000 during the last six months of life for patients with common chronic diseases, and that doesn’t include hospice costs. Typical treatments are expensive and often postpone death for only a short time.
The oldest baby boomers are turning 67 in 2013, and when the trend peaks in 2030, the number of people over age 65 will soar to 71.5 million - one in every five Americans. Unless the Hippocratic Oath is amended to include a "fiscal responsibility" component, the lion's share of medical resources will be depleted by society's elders.
Penned by incisive commentator Martine Lacombe, Silver Orphan – a social novel - explores the issues facing today's aging population, including end-of-life care.