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An interesting comparison might be veterinary care, which has also been increasing for quite some time. The typical insurance model for veterinary care is quit
by tcbawo 3y ago
An interesting comparison might be veterinary care, which has also been increasing for quite some time. The typical insurance model for veterinary care is quite different than human healthcare insurance.
However, one aspect in common is a consolidation of medical supply chain providers (decreased competition, rising costs for providers) and a proliferation of for-profit, private-equity backed, large healthcare providers who are able to negotiate prices and maximize profits by passing on price increases to those able to pay.
- FireBeyond 3y agoPrivate Equity has been getting in to veterinary care in a huge way, and many vet offices are cutting back on services and staffing significantly. It's very easy to see the change in motivation.
- tcbawo 3y agoWhen you have for-profit healthcare, it’s not surprising that the system optimizes for short term profits over the well-being of healthcare workers or patients. People are willing to pay almost anything to stay alive and/or healthy. Healthcare workers will be paid (and otherwise treated) just well enough that they don’t leave. Sadly, the incentives are awful for people who get into healthcare for altruistic reasons.
- pauldenton 3y agoWhen you have state run healthcare there are a lot of wait lists. You can have an excess supply and ration by price or a modest supply and ration by waiting
- deprecative 3y agoWhen you have private for-profit healthcare you get a lot of wait lists. They come in the forms of "I can't afford that" and "I can still walk on that leg, I don't need to spend our retirement."
- tcbawo 3y agoNot all not-for-profit institutions are government run. Supposedly, there are more non-profit hospitals than for-profit hospitals. Although I am not in the industry, the cynical part of me suspects that some of these exist to shelter liability from profit centers.