The Qui Tam Team

The U.S. health care system wastes approximately $700 billion a year on a variety of inefficient practices and outright fraud, according to a white paper from Thomson Reuters.

The U.S. health care system wastes approximately $700 billion a year on a variety of inefficient practices and outright fraud, according to a white paper from Thomson Reuters. By reining in wasteful spending, it says, the potential exists to trim health care costs, which continue to take up increasing percentages of the gross domestic product. "The bad news is that an estimated $700 billion is wasted annually," Robert Kelley, author of the white paper and vice president of health care analytics at Thomson Reuters, writes. "That's one-third of the nation's health care bill." More information about the report is available at http://www.thomsonreuters.com.