February 15Feb 15 2 hours ago, NOTW said:Funny if you know Spanish. Really funny if you know Mexican slang.
February 15Feb 15 2 hours ago, DEagle7 said:Funny if you know Spanish. Really funny if you know Mexican slang.
February 17Feb 17 3 hours ago, iladelphxx said:It works well when you have a healthy market with a strong supply of competitive options and elastic demand (TVs)It doesn't work as well when you have a constrained supply and inelastic demand. (Healthcare)
February 17Feb 17 4 hours ago, JohnSnowsHair said:It works well when you have a healthy market with a strong supply of competitive options and elastic demand (TVs)It doesn't work as well when you have a constrained supply and inelastic demand. (Healthcare)We have inelastic demand for healthcare and higher education thanks to government dollars pouring in to spur demand. When you have a market based system and then allow for unlimited demand with no regard for ROIC, you get stupid inflation. Healthcare is further complicated because Medicaid reimbursements aren't sufficient to offset costs, so providers have to charge private insurance even more to cover losses on Medicaid and the uninsured.If Healthcare is a right, and it should be available to all, then it can't be in a market based system. If we have a market based system, then we have to accept that there will be rationing by price and some will go without. This hybrid BS is the worst of all worlds.
February 17Feb 17 1 hour ago, vikas83 said:We have inelastic demand for healthcare and higher education thanks to government dollars pouring in to spur demand. demand for healthcare is inelastic irrespective of government dollars. and most expenses that get run up are around emergency care, for which persons don't typically get the opportunity to "shop around"I agree that the hybrid model is in some ways the worst of both worlds. but a purely market-driven healthcare system would have perverse effects on care.
February 17Feb 17 I figure we have inelastic demand for healthcare because of the desire to be healthy. If you tell people they must keep spending money or they will die, then they will keep spending money. What really happens is the doctor will order more treatments to treat a sick individual, and the individual will keep taking them to get better regardless of the cost. If you ask people what is more important to have, money or health? Most would probably say health. Money or a new TV? Many can go without a new tv to save more money.
February 17Feb 17 Just now, toolg said:I figure we have inelastic demand for healthcare because of the desire to be healthy. If you tell people they must keep spending money or they will die, then they will keep spending money. What really happens is the doctor will order more treatments to treat a sick individual, and the individual will keep taking them to get better regardless of the cost.If you ask people what is more important to have, money or health? Most would probably say health. Money or a new TV? Many can go without a new tv to save more money.The demand is inelastic because people don't have to pay for it. If people had to pay, you'd see more elasticity in demand -- people would also simply be priced out of certain treatments. Most HC spending is on the elderly - people on Medicare. The purchaser isn't paying the bill, so there's no reason to get anything other than every single available treatment (that is approved). If the government paid for every senior's car, they'd all have Ferraris.
February 17Feb 17 32 minutes ago, vikas83 said:The demand is inelastic because people don't have to pay for it. If people had to pay, you'd see more elasticity in demand -- people would also simply be priced out of certain treatments. Most HC spending is on the elderly - people on Medicare. The purchaser isn't paying the bill, so there's no reason to get anything other than every single available treatment (that is approved). If the government paid for every senior's car, they'd all have Ferraris.You don't pay for your own healthcare? Everybody just gets free money from government? So am I a sucker for buying health insurance, paying copays and deductibles?It is not only seniors driving up healthcare demand. There are a lot of private dollars in there in addition to government money.
February 17Feb 17 20 minutes ago, toolg said:You don't pay for your own healthcare? Everybody just gets free money from government? So am I a sucker for buying health insurance, paying copays and deductibles?It is not only seniors driving up healthcare demand. There are a lot of private dollars in there in addition to government money.People on Medicare pay a nominal amount. Even with your insurance, you're removed from the cost when you get care as your costs are set and fixed. Neither you nor me are seeing a price for each test when we are in the hospital.
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