This price competition thing got me thinking. What is the one sure way to reduce health care costs in the US? The law of supply and demand, of course. Good old econ 101.
So, here's what we should do...have a "health-in" (a "sick-out" in reverse). That's right, no one gets sick or has cosmetic surgery or check ups, etc. for say, two or three months. What's the first thing that happens when demand drops? Reduced prices, of course!
I can see it now:
- Your local clinic will have a "back to school sale"...
- All the hospitals in town will start offering discounts and rebates...
- We'll start seeing 'bundled' offers, such as "a free prescription with every doctor visit"...
- Patient loyalty programs where "every 5th appointment is free"...
- Or "buy one - get one free" cosmetic surgery ("you pay for the left one and we'll do the right one at no charge")...
Just think of the possibilites.
REW