This was a great segment from Friday’s 20/20. John Stossel shows how insurance has made healthcare more expensive. Includes interviews with John Mackey (co-founder and CEO of Whole Foods), a couple doctors and Mark Horn (a father of four from North Carolina who unsuccessfully tries to shop for the best price from doctors).
When insurance companies pay the tab for everything — down to flu shots and sprained ankles — it makes health care more expensive for everyone. Why? Because when someone else pays for your health care, you aren’t likely to ask, or even care, how much it costs.
Good argument about Lasik eye surgery – rarely covered by insurance and the price has dropped 30% over the years because people shop around for the best deal. This is worth watching, no matter what side of the debate you are on:
Another analysis I’d love to see is a comparison of costs in veterinary medicine vs. human medicine. As long as you don’t include end of life care which is very different, you would think there ought to be similarities. The main differences would be the lack of insurance for vet care, less litigious legal climate, and the lower level of regulation.
Stossel is right; insurance makes everything expensive. So let’s get rid of insurance and go to national single-payer.
But if you think insurance makes medical care expensive, try lack of insurance.
Seriously – if you have to pay out of pocket you are charged far more than what the insurance company pays.
And another funny thing – how come you never hear the Lasik and cosmetic surgeons whine about malpractice insurance?
Re: veterinary medicine – I have e definite dollar amount in mind where if my wife’s cat’s medical care goes over a certain amount, we will convene a death panel to review the cat’s usefulness.