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Health insurance reform just a beginning in bringing down costs
My oh my the debate is certainly hot and heavy now on the proposed
health reform bill in Congress. Yes, if the bill is passed it will
finally bring some long overdue oversight of the health insurance
industry, but it will have only a very small effect on the total cost of
health care in America which is now about 2.5 trillion dollars a year.
The bill is projected to bring down those costs by 3 to 4 percent. Why is
oversight of skyrocketing insurance rates only going to have a very
minor effect in bringing down cost? Because skyrocketing profits in the
insurance industry is just a piece of the puzzle of annual double digits
increases in health care costs.
You see, like it or not the primary cause of runaway increase in insurance premiums is not insurance
company profits, it is the skyrocketing cost of the claims the
insurance industry is being asked to pay. Physicians rates, hospital
costs, drug costs and so on.
Yes, the insurance industry without oversight has been taking advantage of skyrocketing physician, hospital
and drug costs in recent years to pad their profit margins but the
overwhelming reason for the increase in premiums has been the exploding
costs of the care being delivered. Addressing that problem must be the
next task to take on and it should be addressed without delay.
So what can be done? I'm a big believer in competition and free enterprise
as the most efficient way to bring down costs in any industry. But in
my opinion free enterprise doesn't mean free from rules, free from laws
and free from oversight any more than a free society means a society
without laws and rules to live by.
I believe a few rules the health care industry should be required to live by is public disclosure
of all cost of all procedures and care. Every physician and hospital in
America should be required to post their cost online in a national
database. That database should also allow for consumers to rate the
quality of care they received. Anyone who has ever used ebay knows we
can shop for best price and customer service on anything and everything.
Americans should also be able to do the same when it comes to their
health care.
I had the thought for health care comparative shopping before I read it anywhere else but just recently I ran across a
blog post calling for just the same (link). I believe it can happen. Other than
the industry being regulated who else would not be for being able to see
the price of something before the purchase instead of after the
purchase as is currently the case?
How would we feel if grocery stores would allowed to place their products on shelves and we just go
pick up what we think we need or want and after we've gone through the
checkout that's when we find out how much the price is?
-----
cross posted to Steve Everett Blog .com and Daily Kos
health reform bill in Congress. Yes, if the bill is passed it will
finally bring some long overdue oversight of the health insurance
industry, but it will have only a very small effect on the total cost of
health care in America which is now about 2.5 trillion dollars a year.
The bill is projected to bring down those costs by 3 to 4 percent. Why is
oversight of skyrocketing insurance rates only going to have a very
minor effect in bringing down cost? Because skyrocketing profits in the
insurance industry is just a piece of the puzzle of annual double digits
increases in health care costs.
You see, like it or not the primary cause of runaway increase in insurance premiums is not insurance
company profits, it is the skyrocketing cost of the claims the
insurance industry is being asked to pay. Physicians rates, hospital
costs, drug costs and so on.
Yes, the insurance industry without oversight has been taking advantage of skyrocketing physician, hospital
and drug costs in recent years to pad their profit margins but the
overwhelming reason for the increase in premiums has been the exploding
costs of the care being delivered. Addressing that problem must be the
next task to take on and it should be addressed without delay.
So what can be done? I'm a big believer in competition and free enterprise
as the most efficient way to bring down costs in any industry. But in
my opinion free enterprise doesn't mean free from rules, free from laws
and free from oversight any more than a free society means a society
without laws and rules to live by.
I believe a few rules the health care industry should be required to live by is public disclosure
of all cost of all procedures and care. Every physician and hospital in
America should be required to post their cost online in a national
database. That database should also allow for consumers to rate the
quality of care they received. Anyone who has ever used ebay knows we
can shop for best price and customer service on anything and everything.
Americans should also be able to do the same when it comes to their
health care.
I had the thought for health care comparative shopping before I read it anywhere else but just recently I ran across a
blog post calling for just the same (link). I believe it can happen. Other than
the industry being regulated who else would not be for being able to see
the price of something before the purchase instead of after the
purchase as is currently the case?
How would we feel if grocery stores would allowed to place their products on shelves and we just go
pick up what we think we need or want and after we've gone through the
checkout that's when we find out how much the price is?
-----
cross posted to Steve Everett Blog .com and Daily Kos
Comment
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Comment by Doppleganger on March 19, 2010 at 8:25pm -
Remember, if this indeed passes, they can all be fired in November 2010!
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Comment by bob3160 on March 19, 2010 at 4:17pm -
The day the politicians are willing to give up their current health insurance (which we pay for) and are willing to accept what they are now trying tu ram down our throats, is the day I will agree with the health reform that we all need.
Until that day comes, don't mess with what I currently have.
By the way, Medicare isn't FREE. We pay almost $100.00 each month for that care.
Medicaid on the other hand is something that's currently breaking the bank and those currently on Medicare, will probably just be rolled over into this proposed cure all now being pushed by our President and his loyal followers in the Democratic party.
We seem to be giving away the freedom we once had in this great nation to a few who think it's for our own good.
Enough said........
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Comment by Doppleganger on March 19, 2010 at 7:39am
-
This power grab must be stopped, or history will repeat itself.....
"THEY CAME FIRST for the Communists,
and I didn't speak up because I wasn't a Communist.
THEN THEY CAME for the Jews,
and I didn't speak up because I wasn't a Jew.
THEN THEY CAME for the trade unionists,
and I didn't speak up because I wasn't a trade unionist.
THEN THEY CAME for the Catholics,
and I didn’t speak up because I was a Protestant.
THEN THEY CAME for me
and by that time no one was left to speak up."
- Pastor Martin Niemöller (1892–1984)
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Comment by cliffystones on March 19, 2010 at 7:27am -
While I also agree with the previous 3 comments, I just have to add this. Besides "Up front Pricing", make it illegal to ask someone to sign a blank "promise to pay" document when being provided services. I worked in a hospital for over 16 years, and was a patient as well. They have a pretty good idea what procedures cost.
Also make it illegal for a provider to charge an uninsured person one red cent more than the lowest negotiated insurance payment. And make it illegal for an insurance to deny payment once they have 'pre-approved" a treatment.
None of these 3 suggestions involve any taxpayer dollars, but would give patients more control over their care.
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Comment by purpix1 on March 19, 2010 at 4:12am -
I have to agree completely with 'CraQ' and 'Anubis'. This health-care reform bill has precious little to do with health-care, and a lot to do with a monumental power grab. Health-care in this country does not need a broad sweeping reform. It needs adjustments and tweaks such as allowing insurance providers the ability to compete across states lines. The increased competition will bring costs down. Giving the IRS more power is just insane, and fining people for not buying health insurance should be criminal.
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Comment by Anubis on March 18, 2010 at 7:51pm -
Does any one honestly believe adding 40 million peope to the system will bring down costs, especially w/ beurocrats in charge????
If you like the IRS you are going to love Obama care because that is who is going to come to your door and fine you $2,000 (Or 2% of your income) if you don't buy some form of insurance since it will be mandated.
Doesn't sound like America when the gov. is forcing us to buy some thing, they keep calling it a right, I see it as a mandate, an unconstitutional one.
-Anubis
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