Yet there are still many among us who refuse to believe that price honesty in an open market can “bend the healthcare cost curve” – let alone that it is essential for affordable healthcare. Not only does it work, but is less expensive for participants and also begets higher quality, being intrinsic to the proposition of a mutually beneficial exchange of value between buyers and sellers.
That may be because enthusiasm for single payer tends to die down pretty quickly once people get a sense of what sort of tax increases would be necessary to fund it. An Urban Institute analysis of a previous version of Sanders’ plan estimated that it would cost $32 trillion over a decade.
It promises huge overall savings along with coverage that would be far more expansive, and far more expensive, than Medicaid for all, with no clear way to pay for it, and no specific strategy for driving costs or spending down.
In 30 years of political advocacy, Sanders has not solved any of the fundamental problems with single payer. He has merely opted to pretend they do not exist.”
[Note: On annualized basis, that would more than double the amount we currently spend annually on healthcare. And past projections related to the costs of gov’t programs always vastly underestimate the actual costs, as evidenced below. – The Sovereign Patient]
“The House Ways and Means Committee estimated that Medicare would cost only about $12 billion by 1990 (a figure that included an allowance for inflation). This was a supposedly “conservative” estimate. But in 1990 Medicare actually cost $107 billion.” http://reason.com/archives/1993/01/01/the-medicare-monster
“Every health-care system in the world rations care in some way, either through bureaucratic fiat (Scandinavia, the U.K.), waiting lists (Canada), or price (that’s us). One can argue about which of these rationing mechanisms is fairest or most efficient, but let’s not pretend that it won’t occur.”
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>
Minus the introduction and Q&A, the 45 -50 minute presentation is well worth your time. Engaging delivery and compelling case to consider… the cost drivers and distortions come from HOW we access and bill, as opposed to WHAT services are actually exchanged or provided. The key to understanding healthcare costs and pricing is to acknowledge that the answer is contained within our insurance card…and the processes it dictates and the tax/regulatory environment that it operates in. It is kind of like hiding something right out in the open; we look for clues everywhere except for what’s right in front of us. We tend to point fingers at easily identifiable components but fail to see what links them.
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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