Side-Effects of Current Medical Practice

Fast-Food chains gear to gain their Profits from selling Meals piecemeal; this Author has even been in sit-down restuarants where they charged for every Accessary--including a glass of Water. This has been the trend of American Business since WWII. Most Automakers still charge a Car buyer for a automatic transmission, even though a Straight transmission costs more to produce today. Americans have become used to such practice, but it costs excessively.

It is especially costly under the stress of medical illness. A Patient entering a Doctor's office or Clinic never knows how much the final bill will be. Any Economist will relate that a Market is not actually established, unless there is Price competition. Piecemeal add-on Pricing allows for creation of a Market, when and only when, there is a standardized Product where the quantity and type of Product is already previously determined. Medical practice fails the Test of standardization of Product, and in prior determination of quantity and type of Product needed. There is literally no actual Price competition in medical practice.

Various remedial solutions could be devised to introduce Price competition into medical practice--it assuring some medical cost relief; this Author projects and assumes a minimum of a 28% reduction in current medical costs. He likes the idea of passage of a Federal law ordering a One-Rate payment for each Doctor's visit, Clinic visit, and per-day rate of Hospital stay. Doctors, Clinics, and Hospitals would be allowed to charge whatever rate they deemed necessary to defray their expenses, but each Patient would be charged the set rate per use, and such set-rates must be publicly displayed. The Law would also dictate that medical personnel inform all Patients of Pricing for all acceptable alternatives for Drugs, medical equipment, and medical procedures. What would be the end-result?

Doctors, Clinics, Hospitals, Drug Companies, Medical Equipment Companies, and Health Insurance Conpanies would all make a Profit; this Author will assure of that fact. Medical Patients would pay a much higher rate per visit or use, but all Patients would be engaged in a medical underwriting spread of overall Costs among themselves. It does not seem like a good deal, until other aspects are examined. All would be desirous of obtaining Profits and making a living: medical procedures would be utilized because of need--not Profit-gouging; medical personnel would be dispersed according to need, not for Profit-generating income; medical business would have to compete based on Pricing, not dillusional referral; and outrageous Costs would be spread among all medical Patients. Health Insurance companies would adjust rates based upon Price competition, and use Expense projections for all Patients (instead of Age) to set rates of underwriting. Pressure from Health Insurers would also exact reduction in excess charging by the Health industry. lgl