“cosmetic & LASIK surgery – two areas where third party payers have never been involved. In both fields there is price transparency & price competition. … real price has been falling … despite a huge increase in demand … [&] major tech. innovations."https://www.forbes.com/sites/johngoodman/2018/10/02/employers-could-slash-their-health-costs-overnight-so-why-dont-they/#7ccf87d75421 …
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you do have a point But (I'm not from US, so do correct me if I'm wrong) it's not the problem of transparency of insurance (we know what our premiums, copays etc are) It's the hospital costs that are unpredictable and opaque so you only encounter surprizes once you end up there?
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Its the kind of contract, not the fact of advanced purchase. Eg having a roof over your head is a strong necessity, but you can contract to rent a place ahead of time, so it can be a simple commodity.
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In what world can you choose providers before an emergency? The private ambulance company will take you to whichever (likely out of your network) hospital they feel like, and charge you 9K for the privilege
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I didn't say you can choose all providers before all emergencies. But you can surely choose a great many.
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You can't choose which out of network doctors treat you in the ER, or ask them to send you to an outpatient MRI clinic that charges thousands less for the same scan. If you're not in the ER, it's not a true emergency.
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yeah, but to be fair to Robin, he wasn't talking only about hospital cost, but also about insurance cost
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Being unable to choose emergency providers, and the life-saving necessity, is what makes it different from a regular commodity, no?
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On two very important fronts you cannot: 1. An ambulance will take you to the closest ER by default, and often you will have no choice in this (e.g. if you're unconscious). 2. Many lifesaving medicines (esp for cancer treatment) are patented and wildly expensive.
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