Wednesday, September 13, 2017

healthcare is price inelastic when it matters most

Hospitals are known for their mark-ups, which are so feral that they make price gouging water in the Sahara desert a noble endeavor in comparison. 

it would be difficult to meaningfully shop for the best deal for “heart attack care” while your heart muscle is slowly melting, and fluid is filling your lungs, making it difficult for you to breathe.
When you’re dying you will call the ambulance, not place a bid on Priceline.

healthcare gets more, not less, expensive, because there are new diseases to treat. Equality costs. Fairness costs. Safety costs. Prevention costs. Being prepared for potential epidemics such as Ebola costs. New drugs cost. New discoveries cost. Reducing healthcare costs also cost – such is the cruel irony of healthcare

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