What I learned from reading a thousand emergency room bills

Post by conanbatt » Thu, Dec 27, 2018, 5:24 AM UTC

ncallaway wrote: post #590

conanbatt wrote: post #519

Earlier quoted context omitted.

Ofc you can invent an infinite amount of models, and Sanders has not specified which one clearly yet afaik. In the case that Medicare is expanded and is optional, medicare will have the following fair challenges: it has to compete with other private insurances, which means is has to pay as much, and any administrative cost dissipates, in fact it gets worse, as providers still have to do multiple billing. If it has to…

> Sanders has not specified which one clearly yet afaik. That's absolutely not true. https://www.congress.gov/bill/115th-congress/senate-bill/180...

Didn't know this existed, thanks for sharing. (I got my other impression by Sander's fb which I follow).

If I understood this text correctly, this will be:

An optional insurance plan (SEC. 105) An insurance that gets tax benefits (SEC. 701) An insurance that has incredibly perverse utilization incentives (SEC. 202)

I would be quite on board on this plan if it weren't funded with special taxation, and it gave itself no promise of benefit for being the state, not because I think its a good one, but because it will confirm its a terrible one.

Post by bumby » Thu, Dec 27, 2018, 11:20 PM UTC

taysic wrote: post #579

bumby wrote: post #574

Earlier quoted context omitted.

Doesn't that imply they compound profits by either 1) raising prices and thus reducing demand for their product in the presence of non-profit maximizing suppliers or 2) creating efficiencies to increase profit margin at an equal-or-lower price? In situation one wouldn't the advantage go to the non-profit motivated supplier and in situation 2) doesn't it ultimately benefit the customer with lower prices?

I think the point is if one company is making outrageous profits it’s trivial for a competitor to undercut them. The food industry for example rarely makes more than 2% in profit because it is so competitive.

I would agree, but only with industries with a low barrier of entry of commodity businesses. There are also other moats that prevent trivial competition. Examples may be intellectual property, branding, switching costs etc.

Re: What I learned from reading a thousand emergency room bills

Re: What I learned from reading a thousand emergency room bills