Several U.S. health-care groups delivered to President Obama Monday a plan for slashing some $2 trillion in costs to the public over the next decade. “We are committed to doing our part to make the system more affordable and effective for the nation,” the coalition of groups, representing doctors, private insurers, hospitals and the pharmaceutical industry, wrote to the president. While many of the proposed savings can be activated immediately, some will rely on “good public policy” in a proposed health industry overhaul that Obama wants Congress to enact by the end of the year. Among the ideas for saving big bucks are streamlining the way insurance claims are processed (about $700 billion), tightening the delivery of administrative services, better managing chronic illness ($350 to $850 billion) and avoiding unnecessarily treatments and duplications ($150 to $180 billion). According to the American Medical Association, billions can be saved by following evidence-based treatment guidelines. As an example, the group cites the fact that more and more births are the result of induced labor, which is not always consistent with treatment guidelines. Births by caesarean section are responsible for almost half of the more than $79 billion in annual hospital charges for childbirth, the AMA notes. But not everybody is convinced that the savings will amount to as much as the medical profession suggests. “I’m skeptical that these proposals will add up to anywhere near $2 trillion,” said Sen. Charles Grassley, the top Republican on the Senate Finance Committee which is helping write the overhaul.

Black lawmakers split on bailout. Black lawmakers found themselves evenly divided over the $700 billion rescue package, which was defeated Monday.  The bill’s failure sent shock waves from Washington to Wall Street.  The stock market dropped an alarming 700 points by its close on Monday. Get more at Pamela on Politics.

$700 Billion BS? If the government is so broke, where is the $700 billion bailout money coming from?

http://blogs.bet.com/news/youthvote/700-billion-dollar-bs/