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There are four pigs at the trough of US healthcare. Insurance companies, drug/medical device makers, lawyers, and doctors/AMA. Here we have the AMA / professio
by AtlasBarfed 4y ago
There are four pigs at the trough of US healthcare. Insurance companies, drug/medical device makers, lawyers, and doctors/AMA.
Here we have the AMA / profession of doctor restricting the supply for absolutely no good reason. Complicit in this? How many of the medical schools are state universities and receive federal funding for education AND via payment for services? Outrageous.
I've personally worked for an insurance company, a device maker, and had a roommate that was a specialist doctor, so I have some familiarity of each of those three pigs.
Insurance companies present low profitability to the stock market, but have GIGANTIC executive classes and executive compensation. The MBA class controls the profits there.
Medical device/drug makers have both a gigantic MBA vampire caste, and device monopolies via patents and other tricks that produce their huge profitability and cost. Many of those companies were started by pure engineer/bioscience people in the beginning but long have been taken over by the MBA finance people and basically perform rent seeking and cartel economics.
Medical providers in the US are so strongly incentivized towards specialization. Would you rather make 100,000$ as a vanilla doc, or 500-700,000 a year as a specialist? Yeah.
The fourth, trial lawyers, seem to be the most hated, but I suspect it is the smallest of the four, but it is the one I have the least direct experience with.
Of course, who's fault is the high cost of medical care? Point at the other three pigs at the trough.
The only good news, and this is true of almost all policy in the US, is that there is opposition between the insurance providers to control costs, and the providers/drug companies to increase revenue.
But insurance companies are on the forefront of denial of service to its customers (DEATH PANELS!!!!), as well as monopolization of local hospitals/facilities to increase their margins as well.
- dsfyu404ed 4y agoRegulators are the fifth pig. The amount of resources that flow and careers that exist to make sure all the paperwork involved in this bloated mess is filled out properly probably counts for at least as much as the lawyers.
- derbOac 4y agoHospital administration is increasingly the sixth. For profit hospitals drive up costs even holding everything else constant, and even for-profit management schemas and motives are trickling into nonprofit hospitals and clinics. Mergers are decreasing real choice in many areas as well.