Posts Tagged ‘Obama Lie’s’

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I was starting to write a post on health care and came across numerous blogs and posts on the issue. The major misconception I held was that the health care industry was highly profitable given all the rhetoric, and that competition was a major factor!

The information shows first that the health care industry as a whole shows a very minimal profit margin, 3-7% pre-tax!!! So these companies that are being demonized by Obama as profit whores, clearly does not hold water when the numbers are reviewed.

Second, competition, this does seem to be an issue, without the ability to cross state lines to offer health insurance, this basically means you have 50 independent providers without competition, ultimately the end result of opening up the state lines would increase competition, but further erode the minimal profits these companies now hold, in effect making the game not worth playing!!

The ultimate issue with health care is cost of the provided services, (my bill for 23 hours in the hospital $12366), the general consensus and vague at best is liability!!! So although Tort Reform has been dismissed (due to the powerful trial lawyers lobby) this still appears the best resource to reduce costs. The administration and detractors of the general health care issue, is dealing with the scab and not the reason for the disease!! Otherwise why would a pill I generally pay $10.00 for 100, cost me $25.00 for one dose??

When a business has a tight margin for profit, they are required to generate income in other areas to offset expense, this is basic business. Due to the high cost of liability insurance and rampant law suits along with doctors providing defensive medicine due to the fear of making a mistake this cost has been padded into every nook and cranny of the process.

It would seem that a focus on reducing health care focused on the drivers of the out of control costs, (liability and malpractice insurance) would be a pragmatic point of consensus. The last thing we need is having the government enter into this fray, since it is abundantly obvious they are the last business to look to in producing a product at a profit!!!

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