The California State University, Northridge economist suggests options for lowering costs and dismantling state-level regulations that restrain competition and innovation.
Monday, August 16, 2010
The Economics of Healthcare Regulation
ObamaCare expands coverage to millions of Americans, but, warns Professor Shirley Svorny, without stronger measures to expand the supply of healthcare providers and contain costs, we can expect a physician shortage and soaring premiums.
The California State University, Northridge economist suggests options for lowering costs and dismantling state-level regulations that restrain competition and innovation.
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The California State University, Northridge economist suggests options for lowering costs and dismantling state-level regulations that restrain competition and innovation.
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Competition is not the solution to this particular problem.
ReplyDeleteCountries with "socialized" medicine are essentially running an efficient, government-run insurance. By having 100% coverage, more people receive the healthcare they need and benefits can be provided more efficiently. The larger the pool of insurees, the better coverage, cost, and overall care from the insurer.
The private insurance industry adds inherent probles in the form of dropped coverage and the "profit" margin. The private insurer takes in ever increasingly higher and higher profit margins, year after year. Rates are raised to keep up, because the private corporation mantra is: "You're either growing or you're dying." They also make up the difference by denying coverage.
I really cannot understand why this is anything but common knowledge after decades of marked success in other nations with similar systems. Private insurance doesn't even have to disappear, it can be a luxury for those with the means to supplement government coverage, if they really fear having to wait in line behind plebians for a doctor's visit.