"WASHINGTON (Reuters) - The U.S. healthcare system is just as wasteful as President Barack Obama says it is, and proposed reforms could be paid for by fixing some of the most obvious inefficiencies, preventing mistakes and fighting fraud, according to a Thomson Reuters report released on Monday. The U.S. healthcare system wastes between $505 billion and $850 billion every year, the report from Robert Kelley, vice president of healthcare analytics at Thomson Reuters, found. "America's healthcare system is indeed hemorrhaging billions of dollars, and the opportunities to slow the fiscal bleeding are substantial," the report reads." - Steven Perez from Bookmarklet

"Some other findings in the report from Thomson Reuters, the parent company of Reuters: * Unnecessary care such as the overuse of antibiotics and lab tests to protect against malpractice exposure makes up 37 percent of healthcare waste or $200 to $300 billion a year. * Fraud makes up 22 percent of healthcare waste, or up to $200 billion a year in fraudulent Medicare claims, kickbacks for referrals for unnecessary services and other scams. * Administrative inefficiency and redundant paperwork account for 18 percent of healthcare waste. * Medical mistakes account for $50 billion to $100 billion in unnecessary spending each year, or 11 percent of the total. * Preventable conditions such as uncontrolled diabetes cost $30 billion to $50 billion a year." - Steven Perez