But why would regulations cause inflation to out pace other industries? Those costs should be absorbed, and then that is that, no? I can see it affecting the industry's inflation one or two years, but historically (91-14 as best as I can find), medical costs have inflated at a 3x pace of normal inflation. I don't understand how that can be simply attributed to regulations.
I just spent 3 hours doing my govt regulated training the jist of which is I'm not allowed to imbezzle my clients funds or invest them unethically. I'd like to know if there is a single person who says "wait? It's not ok to steal money?!!!" Not only do I have the stupid test, but the clearing firm I uses has to hire a dozen people at high salaries to write the test and make sure I'm complying. None of which would actually stop me from defrauding my customer if I wanted to. All of this costs my clients and I money. I'm sure for a doctor their experience is this times 10.
Complying with regulations cost big money. Insurance companies margins, despite popular myth, aren't high enough to absorb that cost so it gets passed through to the consumer.
But again, are 1000 new regulations written each year that would explain the historical differential in inflation?
Regulations limit competition so they don't have to absorb the cost as much as other industries. Plus the amount of capital involved to wade through the regulatory waters rather that be bringing a drug to market or opening a new medical facility. Basically we've removed most market principles in healthcare and prices have sky rocketed, same as with education
You only need one. The cost of complying to Dodd frank for the banks is in the billions and increasing every year.
Would you say health care has to be regulated? Unlike a bad hamburger, I cannot say "well, won't go back to that heart surgeon again." "Yes, but that surgeon would quickly go out of business". I understand that, but surely there has to be some minimum standards set for a health industry, as it would be too late for the people he does horrible work on before the word spreads. How much does frivolous law suits, indigent care, insurance pressures, etc also drive up health care costs or affect the quality of care?
I think a certain amount of overview is desirable, but that's not how the system works. I believe the ACA added something like 100,000 New regulations. The interesting aspect is that aspects of healthcare that isn't as heavily regulated have went down in cost. Laseric eye surgery is and example of this
Hyperbole or close to actual number? If so, it is more of a horrible piece of legislation than I thought. It is everything people don't want and nothing that either side of the aisle want.
Close to to real number. I believe the paper work went from being right at four feet high to over 10 feet high.
This is something that has so much bad reporting and flat out lies from both sides that it is hard to separate truth from fiction. But I don't doubt that what you are saying is true. But wouldn't a single payer system simplify a lot of that mess?
No, because the government is going to also be limited in what they can and will spend as well. Look at how they run the VA.
Why can Europe apparently make it work? I know that Droski mentioned they are riding our coattails on research, but doesn't Germany have a pretty big pharmaceutical industry?
I think he was saying the US market is the the market that makes the research profitable, which is probably true. I don't think he was saying they were needing any help research wise. And they don't.
Article mentions she is trolling, then criticizes her as if she were serious. The pictures are pretty funny.
At the risk of endangering my pinko liberal status here, I have to admit that picture on the left is pretty dang sexy. I like the rifle, but she also has a great pair of bazookas.
