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Friday, March 29, 2019

What if all US health care costs were transparent? | Jeanne Pinder

https://youtu.be/ZjeZ8r7yWOk

This is a just a reporting of the prices.

As an economist I can state that transparent pricing creates more perfectly competitive market than a market where the price is set by desirability of procedure (person focused rather than wallet/money focused transaction.) It is possible that if healthcare costs are reduced by this action of pricing then:

1. If protections for emergency care are not given then prices for care are going to be lower in parity to quality (lower quality.) 

2. Lower hospital and medical revenues across the spectrum of healthcare where spenders of healthcare are saying about the pricing per quality of care. This lower revenue with (keeping the costs the same) would lower profitability and therefore increase the work pressure on employees OR reduce healthcare employment. Therefore increase national unemployment or employ-ability. 

3. Education based healthcare will diminish OR price for learning about healthcare (training for a doctor, nurse, etc...) will become more prohibitive. 

Note that asking about healthcare prices or posting healthcare prices will mean many procedures may become more like going to the dentist's or optometry office (prices will reflect pricing per medical offices that are more like outpatient care facilities. There is a higher likelihood that inpatient procedures or catastrophic procedures will increase in price (in other words the price differential is higher under a prices for all to see system than price after the procedure per billing.) 

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