patrick.net

just any guy says

joeyjojojunior says

Ironman says

So you really think Medicare is administered and regulated well and is very cost efficient?

It's more cost efficient than private insurance is.

This is an interesting analysis because comparing administrative overhead of Medicare vs private health plans is apples and oranges. For example with integrated health systems, they handle most of the claims processing and adjudication overhead...not Medicare or Medicaid. So, it is hard to compare.

If you ask independent providers who is easier to work with, most will likely say private insurers because the paperwork and guidelines for Medicare is outrageous. From what I've seen, this is a symptom of how government operates...with far too much bureaucracy and overhead.

Look at auto insurers....

Private Health Insurance is nothing but bureaucracy and overhead. It's the most useless, inefficient jobs program in the history of this planet

joeyjojojunior says

Capitalism performs poorly in markets with inelastic demand

You are conflating ideas. Define capitalism. I think you mean free-markets which is not the same thing. Regardless, no system has outperformed free-markets regardless of the elasticity of demand.

Also, most healthcare is very elastic. 98% of what any of have done in a hospital is elastic.

"Regardless, no system has outperformed free-markets regardless of the elasticity of demand."

Source? Because every chart, graph, or table I've seen shows that free market health care is the most expensive and worst performing system.

zzyzzx says

Slavery was a feature of capitalism that was institutionalized by the American South, who are today's "freedom caucus". The lies and hypocrisy of this post are shameless.