No, they're billing insurance companies that much. For-profit insurance companies are incentivized to drive up the cost of care because of the cap on their profit margins. More expensive care equals more profits as a bigger pie means a bigger profit even if the percentage remains the same.

Medicare's rates are about a half to a third of what private insurers have managed to negotiate. Funny how that works.

Doctors are not the problem with American health care, for-profit insurance is.