Friday, July 14, 2017
We Must Listen to the Laws of Economics to Lower Health Care Costs
Do we want to have less expensive medical bills? The prices are not going to come down as long as there is someone who can step in to pay the bill regardless how high that price goes. Unfortunately, insurance and government are now playing the role of sugar daddies who can afford to pay whatever prices are charged, regardless how high. Prices are only going to drop if there is not a sugar daddy to foot the bill. If medical providers cannot bill large insurance companies and cannot bill the deep pockets of government, prices will drop. If medical providers are limited to getting their money from you and I, prices will come down. It is the law of supply and demand. If the supply of money drops and the demand for the service remains, it will force prices down.