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Healthcare Video I Came Across On FB.

ClassicRobert
Posts: 2,487
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9/18/2013 1:44:29 PM
Posted: 3 years ago
I like it. He tends to have a thoroughly convincing style of argumentation.
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pozessed
Posts: 1,034
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9/18/2013 4:31:32 PM
Posted: 3 years ago
At 9/18/2013 1:44:29 PM, ClassicRobert wrote:
I like it. He tends to have a thoroughly convincing style of argumentation.

I agree. I liked his idea about contracting hip replacement manufacturers and the idea it brings to all fields of medical needs. I also like how he compared the cost of prescription drugs to the cost of life and noted that people will find a way to pay for drugs to save their life regardless the cost.
He made some convincing claims.
muzebreak
Posts: 2,781
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9/20/2013 8:34:22 AM
Posted: 3 years ago
If what he says is true, which it certainly seems to be, then the US government is even more incompetent than I originally thought.
"Every kid starts out as a natural-born scientist, and then we beat it out of them. A few trickle through the system with their wonder and enthusiasm for science intact." - Carl Sagan

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slo1
Posts: 4,329
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9/20/2013 5:06:51 PM
Posted: 3 years ago
Very bright guy and I am with him on most of what he says.

At the end though, he states that an individual can not negotiate his own prices because medical services tend to be inelastic. I think that is wrong. Even in situations of inelastic demand, meaning demand is not reduced when prices increase there is still a finite amount of demand and the company that can produce the best value will take market share from their competitors which spurs them to create more value.

As long as there is adequate supply the aggregate individual chosen demand can drive prices lower.

That is not an option today as your policy you were given via employer or government is negotiated through someone else. We should be shopping for medical services just like shopping for the best product on amazon.

I don't want the government to choose my hip replacement. I want a healthy long term competition of hip replacement companies who have to have to innovate and make better products and then choose the one that best fits my needs and price range.

Could you imagine what types of cars would exist today if the government was responsible for negotiating with car manufacturers on which ones to offer the populace and there were only 3 offerings.

I doubt in the long run they would be cheaper, safer, or better than when individual consumers are responsible for making the buying decision.
dylancatlow
Posts: 12,245
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9/22/2013 12:43:40 PM
Posted: 3 years ago
Americans pay more for healthcare because government intervention disrupts competition in the healthcare sector. If a Canadian hospital can safely perform hip-transplants for 10,000 dollars -using those funds to successfully hire the doctors to perform it, command the medical equipment necessary for the operation, and maintain the facilities in which the surgery will take place - then why couldn't an American hospital do the same? Government incentive programs result in a dissonance between the desire for medical services and their respective costs . If people were responsible for their own health care needs, and the free market were able to function freely to supply them, there is no reason that hospital X would be able to charge 100k for a surgery (and have customers) that could be performed for 10k at hospital Y. The high costs are also a result of government regulation when determining who can and can't practice medicine, as well as a host of other regulations that artificially decrease the supply of medical services. There really is no reason that I couldn't get a surgery for the same price (or lower) as offered in Canada if people were free to supply it.
ClassicRobert
Posts: 2,487
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9/24/2013 10:48:52 AM
Posted: 3 years ago
At 9/22/2013 12:43:40 PM, dylancatlow wrote:
Americans pay more for healthcare because government intervention disrupts competition in the healthcare sector. If a Canadian hospital can safely perform hip-transplants for 10,000 dollars -using those funds to successfully hire the doctors to perform it, command the medical equipment necessary for the operation, and maintain the facilities in which the surgery will take place - then why couldn't an American hospital do the same? Government incentive programs result in a dissonance between the desire for medical services and their respective costs . If people were responsible for their own health care needs, and the free market were able to function freely to supply them, there is no reason that hospital X would be able to charge 100k for a surgery (and have customers) that could be performed for 10k at hospital Y. The high costs are also a result of government regulation when determining who can and can't practice medicine, as well as a host of other regulations that artificially decrease the supply of medical services. There really is no reason that I couldn't get a surgery for the same price (or lower) as offered in Canada if people were free to supply it.

First question: In what ways are the government intervening in the health care industry so drastically that the free market could not drive the prices down to the prices described in the video?
Debate me: Economic decision theory should be adjusted to include higher-order preferences for non-normative purposes http://www.debate.org...

Do you really believe that? Or not? If you believe it, you should man up and defend it in a debate. -RoyLatham

My Pet Fish is such a Douche- NiamC

It's an app to meet friends and stuff, sort of like an adult club penguin- Thett3, describing Tinder
dylancatlow
Posts: 12,245
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9/24/2013 6:01:16 PM
Posted: 3 years ago
At 9/24/2013 10:48:52 AM, ClassicRobert wrote:
At 9/22/2013 12:43:40 PM, dylancatlow wrote:
Americans pay more for healthcare because government intervention disrupts competition in the healthcare sector. If a Canadian hospital can safely perform hip-transplants for 10,000 dollars -using those funds to successfully hire the doctors to perform it, command the medical equipment necessary for the operation, and maintain the facilities in which the surgery will take place - then why couldn't an American hospital do the same? Government incentive programs result in a dissonance between the desire for medical services and their respective costs . If people were responsible for their own health care needs, and the free market were able to function freely to supply them, there is no reason that hospital X would be able to charge 100k for a surgery (and have customers) that could be performed for 10k at hospital Y. The high costs are also a result of government regulation when determining who can and can't practice medicine, as well as a host of other regulations that artificially decrease the supply of medical services. There really is no reason that I couldn't get a surgery for the same price (or lower) as offered in Canada if people were free to supply it.

First question: In what ways are the government intervening in the health care industry so drastically that the free market could not drive the prices down to the prices described in the video?

I'm not really in a position to give you specifics. I'm just applying economic principles to this situation.