Dr. Goodman’s article is a fantastic foray into the dark history organized medicine, culminating with a brutally honest assessment of the cartel that resulted. He gives a great preview of the good stuff in Greg Scandlen’s new book, Myth Busters: Why Health Reform Always Goes Awry, summarizing the oft-repeated myths we hear about healthcare economics thrown around like dogma.
Lessons from the data: Those peoples that trust their government, tend to have more economic liberty, which generally keeps gov’t size and power in check.
Imagine if you had “grocery insurance.” You’d buy expensive foods; supermarkets would never have sales. Everyone would spend more.
Insurance coverage — third-party payment — is revered by the media and socialists (redundant?) but is a terrible way to pay for things.
Today, 7 in 8 health care dollars are paid by Medicare, Medicaid or private insurance companies. Because there’s no real health care market, costs rose 467 percent over the last three decades.
By contrast, prices fell in the few medical areas not covered by insurance, like plastic surgery and LASIK eye care. Patients shop around, forcing health providers to compete.
The National Center for Policy Analysis found that from 1999 to 2011 the price of traditional LASIK eye surgery dropped from over $2,100 to about $1,700.
Source: Free Market Care – John Stossel
Georgia Chapter Free Market Medical Association spokesperson, Dr. Bob Nelson, had the honor of addressing the 3rd annual Citizens in Action, Palmetto Panel held at Clemson University on February 25th about healthcare freedom and the importance of liberating markets with price honesty in healthcare.
<p><a href=”https://vimeo.com/205822572″>Palmetto Panel: Dr. Bob Nelson, Free Market Medical Association</a> from <a href=”https://vimeo.com/user1416051″>Thomas Hanson</a> on <a href=”https://vimeo.com”>Vimeo</a>.</p>
This piece by Megan McArdle is one of the best treatises I’ve read on the economic conundrums facing healthcare and the philosophical wars that rage on around it. Despite the altruistic disguises that insulate much of centrally controlled healthcare systems financed by other people’s money, the price tag is still a consideration; not to mention freedom of choice is largely absent in those top-down budgeted systems.
“The health of Americans should not be a profit center. Health care is a right. Full stop.” That comes from the Twitter feed of personal finance writer Helaine Olen. But it could have issued straight from the heart of any progressive in the land. Subjecting health care to the sordid whims of the marketplace strikes many people as simply immoral.
AUGUST 23, 2016 – “The health of Americans should not be a profit center. Health care is a right. Full stop.”
That comes from the Twitter feed of personal finance writer Helaine Olen. But it could have issued straight from the heart of any progressive in the land. Subjecting health care to the sordid whims of the marketplace strikes many people as simply immoral. Nor is this feeling confined to the left. Conservatives may be less enthusiastic about socialized medicine, but talk to one about the health care system…
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Professor Tom W. Bell
What does the price of gasoline and the price of a chest x-ray have in common? Not much really, except the price of both have gone up in the Atlanta area recently; but the former did so for expected reasons that are predicated on behavioral economics and the relationship of demand to price. The latter went up, well, because it could.
But the sticker shock that I’ve experience lately trying to find a price on a simple chest X-ray is not due to any shortages (either perceived or real) or any sudden increase in demand. Nor was it from a sudden increase in the cost of performing an X-ray or some phenomenal increase in quality that created a better image or less radiation exposure. Nope, none of the usual factors that go into predicting price behavior were at play.
People may ask, “How is it that no one in the UK-NHS was able to help her, but a guy in private practice in Louisiana could?” Such people have been conditioned to believe that government or universities are the sole source of innovation. This is far removed from reality.
Throughout the last 70 years, the U.S. has been the greatest mover and shaker in the world of medicine. Most major medical innovations have either been born or significantly developed here. And, many of the major innovations have come from small private practices—certainly not from the government. Innovative changes do not come from out of our universities—they come from individuals who work at our universities. However, true radical, transformative innovations have often come from private practices.
by Gerard J. Gianoli, M.D. http://EarAndBalance.net Free-market capitalism has brought unimaginable innovations to mankind in the last 200 years, more so than any other economic system in the history of the world: airplanes, telephones, personal…