Study: U.S. Health Care Wastes $750B

    LOS ANGELES, CA - JULY 10:  Nurse Allison Miller checks the blood pressure of Keri Anderson as nurses and physicians give free basic health screenings and call attention to what they say is the ongoing healthcare emergency despite the decision of the U.S. Supreme Court to uphold the Affordable Care Act, on July 10, 2012 in Los Angeles, California. Three days of free screenings in the Los Angeles area are part of the Medicare for All tour which is making up to two dozen stops across California between June 19 and July 12. The California Nurses Association says that 30 percent of Los Angeles County adults are uninsured and 18 percent cannot afford doctor visits.   (Photo by David McNew/Getty Images)

    David McNew / Getty Images

    A major report from the influential Institute of Medicine revealed Friday that America's health-care system wastes $750 billion every year—or about a third of every dollar spent. The waste mostly comes from unnecessary treatments, fraud, and complicated paperwork. "Yet American health care is falling short on basic dimensions of quality, outcomes, costs, and equity," the report concluded. Despite the ongoing political fight over health-care entitlement cuts, the report recommends a different money-saving approach: trim the fat. After all, that $750 billion in waste is worth 10 times more than Barack Obama and Paul Ryan's proposed annual Medicare spending cuts.

    Read it at Associated Press