Return the power to the consumer and watch prices drop; if consumers had skin in the game, then pricing would be realistic.
BTW, most people who start threads with this kind of a news item usually provide a link to the story......you might learn something one day.
Originally Posted by Whirlaway
Pure nonsense.
Most people who talk about returning power to the consumer usually cannot learn something one day - ever.
Consumers already have skin in the game - particularly the millions of people who don't have insurance through their jobs. And yet, despite that huge market, medical costs are ridiculous.
The problem with healthcare is that it is NOT and never can be a rational market like car buying or refrigerators.
When you are sick, you are sick, and you need help right away. You don't have time to do research or negotiate with hospitals. They have all the information and expertise and you have none.
What should the guy with the snake bite have done? Ordered the anti-venom on Amazon and then wait a few days for delivery?
If the hospitals and doctors have all the information and the consumers have little or none and are desperate for help, you will always get situations like this.
The hospitals basically make up numbers to meet their budgets. There is no rational rational connection for the service provided.
That is why Old-T's bandage cost $15 and they tried to slip in a bill from an anesthesiologist that he never saw. That is why the hospital tried to charge $84,000 for 4 ounces of anti-venom and a syringe. That is why hospitals charge $1000 a night JUST for a bed - never mind the actual medical treatment costs.