"Rationing is unavoidable. The choice is not rationing versus abundance. The choice is whether we ration through price signals, with subsidies for the poor, or through political control and waiting lists." Such a basic truth, so poorly understood by politicians, bureaucrats and patients alike.
“Prices transmit information about scarcity and urgency.“
It’s a tool that must be used… and it’s ok if the rich are immune to its effects (because they will always be immune to some degree), as long as the poor are not completely left out.
Everyone needs skin in the game.
I think one of the main issues is that the starting point for the costs is too high because our system is poisoned by middlemen who add no value and unnecessary inefficiencies (ie administrative burden).
Unfortunately, this is perfectly said.
"Rationing is unavoidable. The choice is not rationing versus abundance. The choice is whether we ration through price signals, with subsidies for the poor, or through political control and waiting lists." Such a basic truth, so poorly understood by politicians, bureaucrats and patients alike.
“Prices transmit information about scarcity and urgency.“
It’s a tool that must be used… and it’s ok if the rich are immune to its effects (because they will always be immune to some degree), as long as the poor are not completely left out.
Everyone needs skin in the game.
I think one of the main issues is that the starting point for the costs is too high because our system is poisoned by middlemen who add no value and unnecessary inefficiencies (ie administrative burden).
Good article.
Now the unsaid glaring caveat that medical expenses are the leading cause of personal bankruptcy in the USA.
That is a myth: https://www.nejm.org/doi/full/10.1056/NEJMp1716604