Very exciting conversation. And Dr. Smith seems like a great guy. The vision of healthcare prices being driven way down by competition makes me wonder if in that world doctors would earn enough to justify the cost of med school.
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If they didn't, the prices would start to rise. That's the beauty of a market economy. No one has to worry about setting the wages of doctors as long as there is enough competition.
- Još 2 druga odgovora
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This episode was eye-opening. It led me to the following question. It seems completely immoral that a person might go bankrupt trying to pay a hospital "list" price when that price was never real and other people didn't have to pay it. Is there anything to stop that?
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Market transparency would help, but not enough. Many hospitals are effectively cartels. Other countries solve this with single payer and price controls, even tho that’s deeply unpopular with EconTalk listeners.
- Još 4 druga odgovora
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Looking forward to this. My favorite episodes tend to be nuts-and-bolts. Like the economist who set up an exchange market for door pantries or, especially, the guy who manages the car dealership. Sounds like this is in that lane.
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A little of everything, actually.
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I have never wanted to have surgery as badly as I did while listening to this.
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Seriously I caught myself thinking "man maybe I could use a joint replacement or something..." (Spoiler: my joints are fine)
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Really enjoyed this. I was driving while listening so could have missed it, but wonder how this world without HI would treat primary care? Pay cash for each visit/test/procedure? What about chronic illness (diabetes, autoimmune disease, etc.)? Seems to work better for surgery.
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That is what physicians like us in the
@dpcalliance are doing every day....primary care WITHOUT insurance because it’s not needed in primary care at all.#dpc
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