Unbiased Analysis of Today's Healthcare Issues
Can Markets cure healthcare? Krugman: “There are a number of successful health-care systems, at least as measured by pretty good care much cheaper than here, and they are quite different from each other. There are, however, no examples of successful health care based on the principles of the free market.” Cowen: “There are in fact plenty…
Most experts believe that health care demand is fairly inelastic. If you are sick, you will not be very price sensitive. There are exceptions to this rule (e.g., elective surgery such as plastic surgery, purchases of eyeglasses) but most studies find that patients are fairly insensitive to changes in health care prices. For instance, the…
Many health reformers are urging President Obama to pass legislation which would create a public, Medicare-style health plan which would be available for all individuals. The plan would be open to all…or would it. If a government ran a huge deficit and had to cut spending, would there be an enrollment freeze if the public…
Social safety net services are necessary, but often unprofitable for hospitals. Is the expansion of HMOs and for-profit hospitals jeopardizing these safety net servies? This is the question researcher Yu-Chu Shen investigates. To test this hypothesis, Shen examines how changes in the market share of HMOs and for-profit HMOs affects probability of shutting down following…
In this blog, I have frequently discussed the concept of Job Lock. Job Lock occurs when you don’t leave a job that you wish to leave (either because it is low paying or you do not like the work) simply because you do not want to lose your health insurance. Leaving your current job for…
Some people believe Wal-mart supports universal healthcare because: Wal-Mart wants to change its image, Wal-Mart wants to make its voice heard in the process, or Wal-Mart is flummoxed by unpredictable health care costs. Megan McArdle believes that there is only one reason Wal-mart wants universal health care: profits. If all employers are mandated to provide health insurance, Walmart will…
The Boston Globe reports that “Overseers of Massachusetts’ trailblazing healthcare program made their first cuts yesterday, trimming $115 million, or 12 percent, from Commonwealth Care, which subsidizes premiums for needy residents and is the centerpiece of the 2006 law.” The reduction in the Commonwealth Care was caused by the bad economy. Not only does a…
Three step formula to long-term Pharma profits: Step 1: Create revolutionary medicine. Step 2: Patent the medicine to collect in the profits. Step 3: When the patent expires, combine the drug with another in order to extend its patent life and keep profits high. Most people believe that Step 1 and 2 are ok. The…
From the USA Today, here are the wait times to see a doctor in the following cities: Boston: 49.6 Philadelphia: 27 Los Angeles: 24.2 Houston: 23.4 Washington, D.C.: 22.6 San Diego 20.2 Minneapolis: 19.8 Dallas: 19.2 New York: 19.2 Denver: 15.4 days Miami: 15.4 days The first thing that jumps out from these numbers is that…
Medicare Part D decreased the number of seniors without drug coverage. In 2006 only 7% of seniors lacked drug coverage compared to 24% in 2004.