Just about all hospitals would soon be bankrupt and many nursing jobs would be eliminated. Why? Because Medicare and Medicaid pay hospitals below their costs and so they make up the shortfall by hospitals charging a very large markup to private insurers to subsidize the shortfall. If all private insurance went away and coverage switched to Medicare, hospitals would quickly be in a big loss position and in default on their outstanding bond indentures.
Liberals/Socialists are such absolute fools! Massive layoffs and service cutbacks would quickly follow.
But....but....the TRUTH doesn’t matter....we WANT IT!
It is clear reimbursements would have to be increased in the case of a Medicare-like single payer. You are suggesting they are fixed for all time. But I personally know that Medicare reimbursements are not currently "below cost" in very many cases. Medicaid reimbursement for office visits often are, especially in cases in which no procedure was billed.