Negotiamini Media
Truth is Powerful

Healthcare Price Controls Don’t Come For Free

30

“If government set healthcare prices at Medicare levels, then doctors and hospitals would see their … [+] America’s healthcare bill continues to rise. Our tab reached $3.8 trillion in 2019, nearly $11,600 per person, according to the Centers for Medicare and Medicaid Services . Health care consumes some 17.7% of our nation’s gross domestic product.

In recent months, two leading research organizations, the Rand Corporation and the Kaiser Family Foundation , have released plans for reining that bill in. Kaiser, for example, says, “Reducing the prices private insurers pay for health care services could help alleviate the financial burden of health care for employers and individuals with private insurance.”

In other words, America would spend less if the price of health care were lower. Perhaps these eminent researchers will soon tell us that we’ll have fewer floods if it rains less—or we’d have more money in our 401(k)s if we saved more.

Rand and Kaiser are really just calling for the government to implement price controls on health care. In so doing, they’re ignoring decades of evidence and basic economic theory that shows that price controls result in life-threatening shortages of medical care.

Rand’s study focuses on hospital spending, which accounts for […]

Click here to view original web page at www.forbes.com

Comments
Loading...

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More