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Home Lifestyle Health and Longevity

Healthcare’s Breaking Point: Doctors Battle Insurance Giants

by Team Lumida
December 12, 2024
in Health and Longevity
Reading Time: 2 mins read
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Key Takeaways:

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  • Insurance approval processes becoming more challenging for medical providers
  • Medicare Advantage denial rates increased to 7.4% in 2022 from 5.7% in 2019
  • Small practices struggling with administrative burdens and insurance complications
  • Doctors increasingly selling practices to larger healthcare networks

What Happened?

Following the tragic shooting of UnitedHealthcare executive Brian Thompson, healthcare providers are speaking out about their daily struggles with insurance companies. While universally condemning the violence, doctors describe a system that’s becoming increasingly difficult to navigate, with mounting paperwork, delayed approvals, and frequent claim denials affecting patient care.

Why It Matters?

The growing tension between medical providers and insurance companies reflects a deeper crisis in American healthcare. As doctors lose autonomy and face rising administrative burdens, many are forced to either join larger hospital systems or close their practices. This shift could significantly impact patient care and healthcare accessibility.

What’s Next?

The healthcare industry faces mounting pressure to reform insurance practices and reduce administrative burdens on medical providers. Recent events may accelerate discussions about healthcare system reforms and insurance company practices.

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© 2025 Lumida Wealth Management LLC is an SEC registered investment adviser. Privacy Policy. Cookies Policy.
Disclaimer Important Information This site is for informational purposes only. Information presented on this site does not constitute as investment advice.

Lumida Wealth Management LLC (‘Lumida”) is an SEC registered investment adviser. SEC registration does not constitute an endorsement of the firm by the Commission nor does it indicate that the adviser has attained a particular level of skill or ability.

Lumida's website (referred to herein as the "Website") is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Accordingly, the publication of the Website on the Internet should not be construed by any client and/or prospective client Lumida’s solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet.

Any subsequent, direct communication by Lumida with a prospective client will be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides.

‍Lead Capture Forms: By submitting your contact information in the forms on this site, you are not obligated to invest in Lumida's product or services.
‍Address: Lumida Wealth Management, 25 W 39th Street Suite 700, New York, NY 10018