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There appears to be (almost) no true competition in healthcare, therefore no real incentives to improve productivity. Wages in healthcare rise disproportionatel
by davnn 1y ago
There appears to be (almost) no true competition in healthcare, therefore no real incentives to improve productivity. Wages in healthcare rise disproportionately without productivity gains (Baumols disease); why invest in digitalization?
- manmathmo 1y agoCompetition isn't the only way to hold down wage costs in healthcare. The UK system involves a combination of monopsony and economies of scale. (I make no other claims about the pros and cons!).
- the_d3f4ult 1y agoWages in healthcare have decreased Year-Over-Year relative to inflation since at least the 90's. Productivity has increased in terms of the number of patients seen / day.
- resource_waste 1y agoI'm not sure where you got this information, but it does not apply to Physician services who have gotten 5% year over year increases in medicare reimbursements. Physical Therapists? Sure. But the American Medical Association is a fierce lobbyist.
- the_d3f4ult 1y agohttps://www.ama-assn.org/practice-management/medicare-medicaid/medicare-physician-pay-has-plummeted-2001-find-out-why https://www.ama-assn.org/practice-management/medicare-medica... The AMA is indeed a fierce lobby - just not for physicians. They are widely regarded as a shill for hospital interests rather than doctors or medical professionals.
- deleted 1y ago[deleted]