Did you know, the private sector in the US pay up to 7x more for the same medical supplies compared to the public sector in Europe?Turquoise wrote:
And when it comes to healthcare, the private sector rarely ever does this either.lowing wrote:
and you do not expect govt. overruns? What would this assumption be based on? i ask since there are no examples of govt. projects that come in under budget and on schedule.Turquoise wrote:
Lowing, I'm basing the difference in costs of bureaucracy on this.
"Proponents of health care reform argue that moving to a single-payer system would reallocate the money currently spent on the administrative overhead required to run the hundreds of insurance companies in the US to provide universal care. An often-cited study by Harvard Medical School and the Canadian Institute for Health Information determined that some 31 percent of US health care dollars, or more than $1,000 per person per year, went to health care administrative costs. Other estimates are lower. One study of the billing and insurance-related (BIR) costs borne not only by insurers but also by physicians and hospitals found that BIR among insurers, physicians, and hospitals in California represented 20-22% of privately insured spending in California acute care settings."
http://en.wikipedia.org/wiki/Health_car … ted_States
When even conservative estimates put private bureaucracy at 20% of the total cost of healthcare here, that shows how much room for savings there is in government run health insurance with regard to bureaucracy.
So socializing insurance would reduce costs considerably without even having to socialize care itself.
Still, even if the government goes over budget, it handles these problems better than the private sector does in terms of affordability in pricing.
That's why it costs more in the US.