3 ms·
But pharmaceutical companies and health insurance companies are not outrageously profitable compared to chemical manufacturers and other insurers (respectively)
by nickff 6y ago
But pharmaceutical companies and health insurance companies are not outrageously profitable compared to chemical manufacturers and other insurers (respectively). The biggest cost center in the health industry is human resources, and nobody seems willing to tackle that (by reducing remuneration to doctors and nurses).
- bildung 6y agoHealth insurance definitely is outrageously profitable compared to other insurance sectors: https://www.statista.com/statistics/948687/health-insurance-profits-by-company-type-usa/ https://www.statista.com/statistics/948687/health-insurance-...
- lotsofpulp 6y agoIt’s paywalled, but based on the blurb it’s an irrelevant comparison of absolute dollars of profit from a health insurance company versus a non health insurance company selling health insurance. One would expect a grocery store to have more absolute dollars of profit from selling groceries than a gas station would. The profit margins of a health insurance company are ~5% per the SEC filings of the largest insurance companies, which is not a large profit margin.