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What to Do on the Day After ObamaCare
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John Cochrane, professor at the Booth School of Business, University of Chicago points to the simple truths about U.S. healthcare- out of control pricing because of the pathologies created by previous laws and regulations. He points out that costs are high in healthcare because regulations keep them high. Supply of new doctors is controlled because Congress and the AMA made it that way with a cap on residency programs and AMA opposing the expansion of medical schools. In a system of open competition new hospitals and health care businesses would challenge old ones which is not happening in a regulated market with regulations working to limit competition for the firms already in the business and with the influence to limit competition. Insurance costs for major expenses in an open and deregulated competitive market without the regulations would be so much lower than todays costs that its likely we would not even need a mandate such as the one the Obama healthcare law imposes.
Cochrane on the Obama Health Care Law (Affordable Care Act) and why it does little to resolve the problem of pricing in U.S. healthcare
01/20/2010
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The costs of American health care per patient is double that of some European countries with poorer results in many critical areas of medical services. The burden on society as a whole and the lack of incentive for providers and patients to take action. Pricing of healthcare and pharmaceuticals as the major unsolved problem in the U.S.
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The Soaring Cost of a Simple Breath
New York Times 10/12/2013
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Economy Led to Cuts in Use of Health Care, Study Says
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Patients’ Costs Skyrocket; Specialists’ Incomes Soar
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Medicare in the U.S. and European healthcare systems.
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Pricing of pharmaceutical products and healthcare services as the major unsolved problem in the U.S.
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The French Lesson in Health Care
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Why an MRI costs $1,080 in America and $280 in France - The Washington Post
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What to Do on the Day After ObamaCare
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Why an MRI costs $1,080 in America and $280 in France | Wonkblog
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U.S. healthcare insurance costs 2010-2013
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Grouped Articles
Lower Rise in Health Spending Predicted
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An Rx? Pay More to Family Doctors
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Why Medical Bills Are a Mystery
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Pricing of healthcare services and pharmaceuticals as the biggest problem in funding healthcare in the U.S.
01/31/2008
The cost of most healthcare services are double or higher in the U.S. than in Canada, Germany, France and Japan. By not bringing prices in line with the price in other major developed countries, the U.S. is effectively defunding infrastructure, R&D, education and other important means of improving competitiveness say experts. The methods of setting price present in these countries are notably absent in the U.S. The Obama healthcare bill and before that the Bush Medicare Prescription Drug Benefit simply leave this problem unaddressed.
Grouped Articles
Cuts Would Only Shift Health-Care Costs
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The Soaring Cost of a Simple Breath
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New York Times 12/21/2013
Economy Led to Cuts in Use of Health Care, Study Says
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Failure to control overbilling by pharmaceutical companies, medical equipment and device makers in the health reform bill.
12/10/2009
Only $10 million annual increase to control fraud has been allocated in the bill. Its not likely to do much to control the overbilling and may be one more reason the health care reform bill will be a failure in controlling costs. Pricing of pharmaceutical products and healthcare services as the major unsolved problem in the U.S.
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New York Times 12/21/2013
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A grim diagnosis for our ailing U.S. health care system - The Washington Post
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The French health care system and its costs, comparison with the American system of health care.
06/28/2007
The rising costs of the French system and its concept and performance. Efforts to meet rising costs and rise of the "mutuals." Healthcare in France is at about 11% of GNP compared to 16% in the USA, with 50 million uninsured in the US and 99% of 64 million people of France covered. Pricing of pharmaceutical products and healthcare services remains a major unsolved problem in the U.S.
Grouped Articles
The Soaring Cost of a Simple Breath
New York Times 10/12/2013
New York Times 12/21/2013
The French Lesson in Health Care
BusinessWeek 06/28/2007
New York Times 07/14/2007
In Holland, Some See Model For U.S. Health-Care System
Wall Street Journal 09/06/2007
Maker of Lipitor Digs In to Fight Generic Rival
New York Times 11/03/2007
The absence of solutions to the underlying problem of increasing U.S. health care costs in fiscal cliff deficit negotiations
04/03/2012
Without a new approach to increasing health care costs, especially considering the demographic changes in the U.S. with more people on Medicare in future years, the problems of defunding other areas such as education, R&D, and infrastructure, to fund these increases is likely to continue. Estimates show that the 50 million Americans enrolled in Medicare in 2012 will grow to 80 million by 2030, according to the Medicare program actuaries. Demographic changes as the baby boom generation ages mean more Americans relying on Medicare and Medicaid. With continually increasing health care costs from costly technologies, increasing of diabetes, asthma and other diseases, pricing in the medical industry, and some fraud costs, this is a toxic mix that will lead to to a situation where one of three dollars in spending get swallowed up here.
Linked Articles
Beneath Budget Battle, a Health-Spending Juggernaut
Wall Street Journal 12/17/2012
What to Do on the Day After ObamaCare
Wall Street Journal 04/03/2012
John Cochrane on how to build a truly open competitive system of healthcare the day after Obama healthcare
03/05/2012
Cochrane points to regulations and laws that support high prices of medical carein the U.S., by reducing competition and restricting supply of doctors and suppliers of medical care. He says the mandate most likely would not even be necessary under such a system because the costs of healthcare in the U.S. would be so much lower.
Linked Articles
What to Do on the Day After ObamaCare
Wall Street Journal 04/03/2012
Why an MRI costs $1,080 in America and $280 in France - The Washington Post
Washington Post 03/05/2012
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