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In any industry that involves insurance companies predominantly paying bills, will eventually lead to out of control costs (health, auto collision repair etc)
by rwbt 8y ago
In any industry that involves insurance companies predominantly paying bills, will eventually lead to out of control costs (health, auto collision repair etc)
Higher the costs, more incentive (or mandatory) for users to buy insurance and also more profits to insurance companies.
- stephen_g 8y agoIt's true - a higher proportion of cost borne by insurance companies and the private sector is very strongly correlated with higher healthcare spending - this is from OECD data: https://images.theconversation.com/files/44253/original/3y3hh26p-1395196169.jpg https://images.theconversation.com/files/44253/original/3y3h... Full article - https://theconversation.com/private-insurance-reliance-means-countries-pay-more-for-health-care-24486 https://theconversation.com/private-insurance-reliance-means...