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Originally Posted by swampwiz
Contrast this with medical care. You cannot go into a physician's office or a hospital and look at a price sheet.
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Yes, I agree that the lack of information on the pricing of treatment options is a huge problem. This would help drive down costs.
Quote:
Originally Posted by swampwiz
to say nothing of the cartel behavior of the artificial shortage of physicians enforced by AMA.
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A cartel that is enforced by the US government. The government has granted AMA the monopoly on management of the "CPT" codes used for Medicare and Medicaid billing. More fundamentally, the government has granted AMA's Council on Medical Education and Hospitals a monopoly on accreditation of medical schools and hospitals. Through this mechanism, AMA restricts the number of physicians and the number of hospitals. They have set targets for the number of graduates from each school, and can withhold accreditation from any school that exceeds these goals. This government involvement (or abdication of a governmental responsibility to a trade guild) restricts the supply of services and definitely
increases medical costs.
Quote:
Originally Posted by swampwiz
I definitely think that the government can do a better job.
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I definitely agree with you. What they've done to date has reduced the supply of medical services (driving prices up) and dumped money into the market to purchase health services, which increases demand and prices.
We all know that medical costs have risen faster than inflation. I'm trying to find the source I read, but it said that 1/2 of the difference between the general inflation rate and the higher medical inflation rate was due to government spending in Medicare and Medicaid.
All this is
not to say the government can't play a useful role in helping Americans get affordable medical care, but it needs to be done intelligently.