Posted on 01/09/2009 6:53:05 PM PST by Kaslin
Barack Obama talked somberly last week about getting the federal budget under control once the present economic crisis is past. To do that, he'll have to confront the rapid growth of health spending, which in 2007 was already a quarter of total federal spending of $2.7 trillion.
If Obama is serious, he should read a fascinating new study from the McKinsey Global Institute, the research arm of the famed consulting company.
American health care has gone haywire. It provides much splendid care but has glaring deficiencies. It's so costly that 15% of us lack health insurance. Runaway spending is also crowding out other government programs and, through bloated insurance premiums, squeezing take-home pay.
What McKinsey provides is a plausible estimate of the overspending: one-third. In 2006, U.S. health spending totaled $2.1 trillion. Of that, $650 billion exceeded the norms of other rich nations, figures McKinsey.
For the extra money, we receive no indisputably large benefit in national well-being. On some measures (breast cancer survival rates), we do better than many countries; on some others (life expectancy), we do worse.
We're always searching for villains to explain this unsatisfactory situation. McKinsey debunks some popular candidates.
(Excerpt) Read more at ibdeditorials.com ...
In fact, Osbama just hired some from McKinsey to be one of his closest advisors.
The-one term wonder will be campaigning for his second term before he can thrash health care.
maybe catastrophic coverage
but kill every thing else that
insulates the provider from the recipient
The cost of administering medicine would
drop by half, at least.
Because there is an immediate connection
between cost and benefit,
the over-utilization will disappear overnight.
Oh yes, kill all the Lawyers
You really want to reduce healthcare costs? Outlaw insurance, get Government out of the healthcare business, and let people pay the bills on their own. After the riots finally die down, everything will be a lot cheaper. Really.
The cost of "defensive medicine" is staggering. However, if not practiced to the last $5,000 test, the lawyers will crucify the doctor in court.
I plan on staying away from all unecessary medical professionals. I will go to the eye doc, dentist forget the rest.
Wrong. The House is already set to pass SCHIP expansion, which Waxman calls ‘a downpayment on nationalized healthcare’ ... daschle plans to do even more. ... socialized medicine will be implemented, health care will be thrashed pronto, step by step, unless we fight to stop it.
Even if it is practiced down to the last 5,000 dollar test, there are still lawyers that will try to ruin you in court.
I for one will retire early if we end up with nationalized health care. I will not work for the government. Medicare and Medicaid pay the physician very little and add mountains of paperwork and regulations. I suspect national health care will be even worse.
Ok, lets do some beer math:
15% of 300 million = 45 million people uninsured.
now I need some help. Can anyone fill in the numbers for the following categories:
- # non-citizen? (it’s their gov’t and taxpayers problem)
- # uninsured people making over $100,000 who can afford, but chose not, to have insurance? (i.e. self insure)
- # of people who are between insurance programs, but will not go more than a few months w/o it?
- # of young, fearless, and foolish people who could pay but go without because they feel invincible?
- # of people who are covered by an existing program but don’t know it?
- # of people who are covered by their spouses’ program but report themselves as “not having insurance”
Add up these categories, subtract from the alleged 45 million, and I bet we get it down to ~5%. So go ahead and ask yourself, is it worth trading the finest health care in history for CANADACARE?
“I plan on staying away from all unnecessary medical professionals. I will go to the eye doc, dentist forget the rest.”
I would be kind of careful around any eye doctor or dentist who claim they can do colonoscopies.
only eye exams and necessary dental work. otherwise, I’m taking care of myself.
Thanks. n0Bummer 2012.
I don’t know where the tax happy writer got the 13% out of pocket. Premium for 5 people 450.00 per month. That’s just the basic insurance premium, not the premier or anything. We know requiring insurance increases the premiums, Massachusetts, but they are high enough. If we chose to go government we would have a much less costly insurance. She also failed to mention prescriptions.
I think you and I will be among many who do the same. I think the trend in expanded duty nurses, PA's etc will become the norm for health care. But then health care costs will be lower so the public shouldn't complain if they can't see a doctor
When the perceived price of medical care drops to zero, demand will approach infinity. Care will be rationed. Some faceless, greasy bureaucrat will decide who lives and who dies.
Exactly right. The third party payer system disconnects consumers from the consequences of their healthcare decisions, and thus results in unnecessary healthcare. Make them pay directly, and they will make market-driven choices.
Have you ever seen those thick hospital bill printouts? Right now, everyone just ignores them—probably even the insurance carriers. If people had to pay it themselves, they would question every detail & nickel. They would also veto unnecessary procedures. A lot of waste and fraud would disappear overnight.
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