Cost cutting behaviors are not limited to the doctor. Patients also have incentive to cut costs when shown the prices, as opposed to the current insurance model that insulates the patient from the cost.
I showed my friend a surgery center’s website with posted prices. He asked why posting prices helped control them. I said, “I actually don’t know, but I need to figure that out.” That event set in motion a positive feedback mechanism of curiosity about the nature of free markets, especially in terms of their benefits to healthcare delivery. I now understand the economic principles that are fundamental to optimum outcomes.
“I encourage all BRI medical students to get involved in healthcare policy at the state level, as it does affect all doctors and patients. It is a great platform to spread free market ideas and create a medical environment where the patient-doctor relationship can thrive.” ~Trenton Schmale, BRI-Founder & President, MUCOM
At the 2016 Free Market Medical Association (FMMA) conference in Oklahoma City, I and my colleagues heard several speakers discuss how free market principles are currently being applied to healthcare. We also heard several ways in which these same principles can—and should—be applied in situations where they currently are not. Every speaker would then usually follow with something along the lines of: “It is up to us to make this change.”
“One challenge facing direct primary care (DPC) is issue of vaccines… High vaccine costs make it prohibitive for DPC doctors to offer them as part of their fee structure. Discussing topics like this helps me expand my understanding of how health care, policy, and the free market interplay has very real consequences for our patients.” Mit Shah, OSUMC
I am a career-changer with six years’ experience in finance before coming to medical school. Given my background, one of the most pressing issues I find within our current healthcare environment is the vast number of inefficiencies costing valuable time and resources within the US healthcare system. It frustrates me that within healthcare, price often has no relationship to cost, and certainly not value proposition or outcome measurement.
Although America leads the world in technological healthcare innovation, our population struggles with chronic disease and overall poor health outcomes. Compared to similar high-income countries, data from the OECD shows that the US has the lowest overall life expectancy, highest infant mortality rate, and poor management of chronic diseases. Nearly 70% of adults have two […]
“Recently, my medical school required students to attend an afternoon of group discussion on health care policy. Insurance companies, prior authorizations, prescription drug costs, and electronic medical records were some of the topics that kept coming up throughout the afternoon. The whole sentiment of the discussion was very discouraging, and I walked away with little optimism for the state of health care in America. I even began to question if practicing medicine was really what I wanted to do with my degree.” ~Autumn Haynes, OUHCOM
“I do not know when physicians allowed themselves to be called “providers” but I do know that no positive change will happen to our toxic and unsustainable health care system until we stop accepting it.” ~Jacob Chevlin, OU-HCOM MS2020
We do need health care! The public discussion should focus on how health care can be provided while protecting inalienable rights.