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“President Promises To Reduce Healthcare Costs”

In President Obama’s acceptance speech, he said that he would reduce healthcare costs.  One of his primary ways of doing so is by reigning in unnecessary and fraudulent costs.  But, up to now, his program to do so has been feeble at best and pathetic at worst.  Obama was supposed to save billions in fraudulent Medicare payments but up to this point, nothing meaningful has been forth coming.  Further, the governmental system of for-hire fraud busters is another joke.  Obama administration officials said that Medicare overpayments in 2009 exceeded $36 billion and Sen. Charles Grassley, R-Iowa, is trying to find out how long it takes to get this program moving.  There appears to be fraud amongst the fraud busters.  Now, the Institute of Medicine has released a report stating, “The U.S. healthcare system squanders $750 billion a year — roughly 30 cents of every medical dollar — through unneeded care, Byzantine paperwork, fraud and other waste.”  

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