Monday, 1 March 2010

The Cure That Dares Not Speak Its Name
All insurance is socialised risk, therefore all health insurance is socialised medicine. However the countries that have single-payer systems do not get better results for less money because of who pays for insurance, they get it because they control the costs. 
       In a single-payer systems, losses in the system on poorer or more ill patients are covered by more affluent taxpayers. In the US, these losses are covered for by the more affluent insured. 
      In a single-payer system, any (non-fraud) profits are used by bureaucrats to increase their empires. In the US, a piece of this goes to doctors, hospitals, insurance-company shareholders and malpractice lawyers. Looking at the returns of these organizations/companies they are not likely to be responsible for more than 1/2 of the excess US expenditure on health care.    

       Sensible costs controls (e.g. national negotiation on drug and procedure prices) could reduce the US share of GDP going to health care by 5% easily, which would more than pay for a subsidised insurance scheme and plug the hole in medical entitlements.

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