[quote name='BigT']I've been away for a while, but this is an interesting thread. Here are my takes.
* I agree that costs should be more transparent. I've finished medical school, finished a residency, and am in the middle of a fellowship... and I have no idea what most services cost... outside of basic Medicare codes.
* I agree that insurance serves as a buffer from people seeing true costs. Additionally, it provides a large influx of money into the system, leading to an inflation of costs (same situation as with college and student loans). Overall, this really takes us away from a free market... outside of concierge services, most doctors don't directly compete or set prices. For example, many patients are simply assigned to a doctor. On the other side, as an MD, I can do a great job or a pretty shitty one and still get paid about the same... moreover, due to insurance and HMOs, its not like even doing a good job will get you more money through word of mouth.
* The actual "hospital fees" that get quoted are ridiculous and high. Insurance companies don't pay anything close to that. Only rich foreigners pay that (e.g., I've seen Middle Easterners getting flown in for a specialty procedure... the hospital loves them!)
* A lot of care is wasteful. Lots of surgeries don't show any significant benefit in randomized controlled trials relative to sham procedures. Lots of expensive brand name medications are no better than cheap generics (despite the marketing). Lots of medications only provide marginal benefits or are studied in a small cherry picked population and the results are then extrapolated inappropriately to a broader range of patients. Lots of end of life care is futile and harmful (spending the last weeks of one's life getting poked and prodded, getting central lines placed, getting continuous dialysis, getting placed on pressors, getting intubated, and perhaps resucitaed a couple of times does not look like fun... fill out your advance directives...
* MD salaries are very divergent... it is a weird system that has insulated itself from supply and demand. Basically, MDs are incentivized for doing things, even if those things are not necessarily helpful... that's why cardiologists order a crapload of stress tests, echos, and diagnostic caths... you can always come up with a "reasonable" explanation of why it is needed for billing purposes... talking to patients and coming up with reasonable/conservative approaches that focus on prevention simply take time and lead to a loss of potential earnings. Unlike JD's, MD's do not directly bill by the hour... this is also why most psychiatrists don't do psychotherapy and simply prescribe some combination of antidepressants and antipsychotics...[/QUOTE]
Great post, we need more honest doctors like you.