This video on Medicare is a Price Control Fix is part two in the series of Medicare-for-All, now or never.
As voters struggle to determine the best way to improve healthcare quality at lower cost, they wrestle with opposing points of view. On the one hand, advocates for universal healthcare coverage argue that millions of citizens are left uninsured and remain dependent on sporadic emergency room care. They bristle at the multimillion dollars salaries for executives of the medical industrial pharmaceutical insurance complex.
However, others contend that medical insurance, and particularly Medicare is a price control fix, that drives physicians and healthcare workers into early retirement, or abandonment of their profession. Today, medicine remains as one of the only professional services functioning under strict price control. As a result, the incentive for medical care becomes a competition among young doctors to seek the best pay within the most lucrative practice network they can find.
Such behavior by doctors puts them at odds with their nursing partners who strongly support universal healthcare and view medicine as a calling rather than a job.
With 19% of U.S. GDP spent on healthcare, surely that is more than enough to care for all citizens universally. So why hasn’t it happened?
As this video and other blog posts have illustrated, the cause for poor quality and high cost is the excessive funds spent on exorbitant executive and academic salaries, and the abnormal adherence to judging good medical care by the lowest price for procedures.
Delivering medical care under the above principles, forces government to curb runaway cost employing a price control fix. But that solution neither helps taxpayers, or ensures quality medical care.
This video will reduce the complexity of economic theory into understandable terms, and will suggest a value-based healthcare solution, which is transparent and permits people to see the healthcare value they receive for each dollar spent.