Tuesday, October 20, 2009

Healthcare post updated on Facebook, website and blog

Healthcare Crisis
According to the 2004 Census Study, 45.8 million Americans are without health insurance. Further, paying medical expenses is not only a struggle for the uninsured. According to a Kaiser Family Foundation Study, 62 percent of those struggling to pay medical bills have health insurance. The study showed premiums to have risen 57 percent since 2000, which highlights how increasing premiums, deductibles and gaps in coverage are affecting all of us. Such statistics showcase how healthcare costs have skyrocketed to the point of unfairly turning medical treatment into a luxury item.

Reasons are numerous: Pricing established by healthcare providers (doctors, hospitals, etc.) and pharmaceutical companies and technological advancements which have caused cost spikes are two of the biggest issues.

Let's address these:
PRICING--healthcare as an industry is emerging as a monopoly in which costs defy reason and consumers (and at times their insurance companies) have no choice but to pay such outlandish costs. People are shuttled from test to test--amassing outrageous bills, many of which are unnecessary. With healthcare prices out of control, the healthcare industry needs to be held accountable for its outrageous pricing and be severely scrutinized for such strategies. Further, industry pricing standards should be adopted "across-the-board" for tests and procedures (with possible slight variances market-to-market to account for different cost-of-living indexes). Also, consumers need cost-control measures with better understanding of the need for various tests and procedures versus the resulting costs.

TECHNOLOGY--"Would you be willing to go back and pay 1976 prices for 1976 medicine?" asks Robert Helms, a resident scholar in health policy at the American Enterprise Institute. Mr. Helms' point, as quoted from USA Today, is well taken. However, business strategies that create unreasonable prices and mesh with technological advancements that do the same while making healthcare exclusive to the wealthy is not consistent to principles of the age-old medical industry, nor is it consistent with a compassionate humanity. The answer, Mr. Helms, is simple: "No, I'm not willing to '76 prices for '76...nor am I willing to give a blank check to a used car salesman for the purchase of my next car"--which is what we often do with our healthcare providers.

The first step is to call for a limited-price freeze on all medical and health related services and products. The price freeze would last for a period of 2-3 years while proper adjustments are made in the industry. Yes, I realize this would mean a potential wage-freeze across the board, thus, the “Limited”. Wages would continue to meet national increase averages with pricing adjustments made to match such an increase.

Hopefully, Congress will address this issue with more than the pharmaceutical, healthcare and insurance companies in mind. A government run option is a solid start…and NO…such an option is not socialism. I’m baffled by those who oppose such an option for such reasoning. After all, Medicare and Social Security are also government run programs that people would not want to give up. We need to think through this issue with an eye toward responsibility and fairness that transcends greed. As always…any feedback is welcome!

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