Imagine a big truck full of bags of money (below). The bags start rolling down the ramp. The federal bureaucracy takes the lion’s share. Then, insurance companies and corporate medicine take another big piece, and only a few dollars are left for patients and their care.
Do you think the millions of rules and regulations are free? Can you build Health Insurance Exchanges or expand Medicaid for no cost? Do all those healthcare consultants, accountants, actuaries, billers and coders, compliance officers, lawyers, navigators, regulators, etc. work pro bono? THAT is where the money diverted from care services ends up.
The graph above shows the growth of the supply of healthcare providers (doctors) and healthcare bureaucrats (administrators). From 1975 to 2010, the doctor supply grew slightly less than 200 percent. Over the same time period, the number of healthcare administrators increased more than 3000 percent. Imagine where the administrator line is now with Obamacare. 4000 percent? 5000 percent?
Who ultimately pays for Washington’s extravagant spending on itself? Today's patients, our children and our grandchildren.
Dr. Waldman's new
eye-opening book lays bare the disaster that has befallen both patients and doctors over the last 50 years due to government and administrative involvement into health care. Today close to 50% of healthcare spending goes NOT to doctors to pay for care, but to administrators who manage the miles of red tape introduced by ever increasing number of government regulations.
Dr. Deane Waldman was Chief of Pediatric Cardiology at: The Children’s Hospital of San Diego, The University of Chicago, and The University of New Mexico. He has seen the insides and outside of our floundering medical care systems. At present, Dr. Waldman is Distinguished Senior Fellow for Healthcare Policy at Texas Public Policy Foundation. His proposal for StatesCare has the potential to revolutionize healthcare in the U.S. and save us from the imminent imminent collapse.
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