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As a contract medical device manufacturer I was incentivized to charge more. A device which costs $1 to make can only reasonably be marked up so much before it'
by danvoell 3y ago
As a contract medical device manufacturer I was incentivized to charge more. A device which costs $1 to make can only reasonably be marked up so much before it's a red flag. A $100 product can more easily be marked up to $300. So all kinds of little extra features are added when the $1 product got you 99% of the functionality. So many people are on the take there is no end in sight. The doctor sees the admins make more, the admins see the insurers make more, the product distributers, the device manufacturers... so everyone keeps asking for more.
- s1artibartfast 3y agoIt is basially a tragedy of the commons. The patient will pick the $300 device over the $1 device every time, because their copay is the same either way. However, it means insurance premiums go up next year. The doctor, hostpital, insurance, and manufacturer all get paid more the higher the price. There is literally nobody in the system who wants to choose the cheaper but 99% as good product.
- deleted 3y ago[deleted]