We’re Number One!
From the cost of the MRI to Humira to the all-in cost of a total joint replacement surgery, the United States is a more expensive country than a group of six other industrialized countries in 2014. That is according to a report from the International Federation of Health Plans (IFHP).
The U.S. average for total hospital and physician costs was $28, 184 for knee replacement and $29, 067 for hip replacement. The next most expensive country for knee replacements was Switzerland at $20, 132. A hip replacement in Switzerland cost $20, 000.
Australia was second in cost for hip replacements at $19, 484 while a knee replacement there cost a few dollars under $15, 000. Spain had the lowest average cost for both surgeries. In Spain, it cost $6, 687 for a knee replacement and $6, 757 for a hip replacement, the IFHP reported.
TABLE – High Cost Joint Replacement
The International Federation of Health Plans was founded in 1968 by a group of health insurance industry leaders, and is now the leading global network of the industry, with 80 member companies in 25 countries. The IFHP’s objective is to promote and maintain high ethical and professional standards throughout the industry.
