Governments do not lower costs. They increase costs to the user outside of government accounting, which appear to lower government costs but merely shift these costs to end users.
By paying below market rates, as Ms Tyson's chart indicates, the number and quality of medical providers decreases, waiting time increases as well as denial rates for service.
Additionally, out of pocket medical expense increases to offset government's lower payment rate, as in England where people buy secondary medical private insurance to supplement their government health insurance, or as in Canada where people travel to the US for faster and better medical care.
Furthermore, administrative costs is a red herring, since there are many other government functions that Medicare relies on that are outside of its accounting statements and measured costs, but which are included as costs for private insurers.
Friday, December 30, 2011
Comment To Tyson's Economix Post "Wyden-Ryan’s Unrealistic Assumptions"
A comment I posted to The New York Times, Economix blog, "Wyden-Ryan’s Unrealistic Assumptions" by Laura D'Andrea Tyson:
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