Countering medical cost myths

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sophie
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Countering medical cost myths

Post by sophie » Fri Oct 18, 2019 8:02 am

This is a most interesting article in (of all places) the New York Times.

https://www.nytimes.com/2018/01/29/upsh ... costs.html

It counters two prevailing myths, that universal coverage and perfect compliance with all preventive care recommendations both independently reduce the cost of medical care. Not true, as many of us had already guessed.
Let’s begin with emergency rooms, which many people believed would get less use after passage of the Affordable Care Act. The opposite occurred. It’s not just the A.C.A. The Oregon Medicaid Health Insurance experiment, which randomly chose some uninsured people to get Medicaid before the A.C.A. went into effect, also found that insurance led to increased use of emergency medicine. Massachusetts saw the same effect after it introduced a program to increase the number of insured residents.
There’s little reason to believe that even more preventive care in general is going to save a fortune. A study published in Health Affairs in 2010 looked at 20 proven preventive services, all of them recommended by the United States Preventive Services Task Force. These included immunizations, counseling, and screening for disease. Researchers modeled what would happen if up to 90 percent of these services were used, which is much higher than we currently see.

They found that this probably would have saved about $3.7 billion in 2006. That might sound like a lot, until you realize that this was about 0.2 percent of personal health care spending that year. ... The task force doesn’t model costs in its calculations; it models effectiveness and a preponderance of benefits and harms.
Note that because the task force ignored costs of preventive care, it is likely a massive money loser. Given the nearly non-existent actual benefits of most preventive care recommendations, it's pretty clear that THIS (along with the USDA's disastrous dietary guidelines) is what needs to be reconsidered if we're ever going to rein in health care costs. There are one-shot efficiency improvements that can help temporarily, like reversing the layers of regulations put in place by the Obama administration and minimizing administrative overhead, but these will only slow the advancing tide.
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Re: Countering medical cost myths

Post by jacksonm2 » Sun Oct 20, 2019 4:35 pm

I figured this out a long time ago.

Nowadays I only go the Urgent Care clinic when I am truly in need, like almost exactly two years ago when I had shingles. And they have very good doctors at the urgent care clinic I visit. Unlike other doctors they don't even schedule a follow up visit just so they can ask you if you are feeling better and bill your insurance company for letting them know.
sophie wrote:
Fri Oct 18, 2019 8:02 am
This is a most interesting article in (of all places) the New York Times.

https://www.nytimes.com/2018/01/29/upsh ... costs.html

It counters two prevailing myths, that universal coverage and perfect compliance with all preventive care recommendations both independently reduce the cost of medical care. Not true, as many of us had already guessed.
Let’s begin with emergency rooms, which many people believed would get less use after passage of the Affordable Care Act. The opposite occurred. It’s not just the A.C.A. The Oregon Medicaid Health Insurance experiment, which randomly chose some uninsured people to get Medicaid before the A.C.A. went into effect, also found that insurance led to increased use of emergency medicine. Massachusetts saw the same effect after it introduced a program to increase the number of insured residents.
There’s little reason to believe that even more preventive care in general is going to save a fortune. A study published in Health Affairs in 2010 looked at 20 proven preventive services, all of them recommended by the United States Preventive Services Task Force. These included immunizations, counseling, and screening for disease. Researchers modeled what would happen if up to 90 percent of these services were used, which is much higher than we currently see.

They found that this probably would have saved about $3.7 billion in 2006. That might sound like a lot, until you realize that this was about 0.2 percent of personal health care spending that year. ... The task force doesn’t model costs in its calculations; it models effectiveness and a preponderance of benefits and harms.
Note that because the task force ignored costs of preventive care, it is likely a massive money loser. Given the nearly non-existent actual benefits of most preventive care recommendations, it's pretty clear that THIS (along with the USDA's disastrous dietary guidelines) is what needs to be reconsidered if we're ever going to rein in health care costs. There are one-shot efficiency improvements that can help temporarily, like reversing the layers of regulations put in place by the Obama administration and minimizing administrative overhead, but these will only slow the advancing tide.
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Re: Countering medical cost myths

Post by shekels » Mon Oct 21, 2019 9:58 am

Article From the Ticket Forum:
Pretty Smart guy, Just don't know if it will happen.
I just know I am tired of getting screwed by Medical Insurance.

https://market-ticker.org/akcs-www?post=231949


Also he has a new podcast up that goes over Medical Costs. (Warning there is some rough Language).
Where 2024 is the date that Medicare comes to a head.
https://market-ticker.org/akcs-www?post=237140
¯\_(ツ)_/¯
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Re: Countering medical cost myths

Post by InsuranceGuy » Mon Oct 21, 2019 10:21 am

shekels wrote:
Mon Oct 21, 2019 9:58 am
Article From the Ticket Forum:
Pretty Smart guy, Just don't know if it will happen.
I just know I am tired of getting screwed by Medical Insurance.

https://market-ticker.org/akcs-www?post=231949


Also he has a new podcast up that goes over Medical Costs. (Warning there is some rough Language).
Where 2024 is the date that Medicare comes to a head.
https://market-ticker.org/akcs-www?post=237140
A lot of good ideas in there. May great ways to encourage transparent and market pricing of medical costs.
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Kriegsspiel
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Re: Countering medical cost myths

Post by Kriegsspiel » Tue Nov 05, 2019 6:58 pm

https://marginalrevolution.com/marginal ... lator.html

Image

Can it be true that rising medical costs is as simple as people using more cheaper medicine? The "escalator paradox" is similar to Jeavon's Paradox.
Some 5500 years ago, before writing was invented to record it, the people of the city of Hamoukar, near rich copper mines, were subjected to the first known instance of urban warfare when an army from the city of Uruk attacked and fought their way through the streets, killing most everyone.
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Re: Countering medical cost myths

Post by pugchief » Tue Nov 05, 2019 8:13 pm

Kriegsspiel wrote:
Tue Nov 05, 2019 6:58 pm
Jeavon's Paradox.
Learned another new thing on here today.
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Re: Countering medical cost myths

Post by Xan » Tue Nov 05, 2019 8:18 pm

The average 30-year-old is on SEVEN (7) prescription medications??

And 70 is pretty old, I guess, but TWENTY-SIX drugs is the average??
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Re: Countering medical cost myths

Post by vnatale » Tue Nov 05, 2019 8:23 pm

Xan wrote:
Tue Nov 05, 2019 8:18 pm
The average 30-year-old is on SEVEN (7) prescription medications??

And 70 is pretty old, I guess, but TWENTY-SIX drugs is the average??
I read that 90% of those over 65 are taking either blood pressure or cholesterol medications. But I'm as astounded as you are by each of the stats you cited. I've made it so far to 68 without ever having any routine medications.

Vinny
"I only regret that I have but one lap to give to my cats."
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Kriegsspiel
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Re: Countering medical cost myths

Post by Kriegsspiel » Tue Nov 05, 2019 8:34 pm

vnatale wrote:
Tue Nov 05, 2019 8:23 pm
Xan wrote:
Tue Nov 05, 2019 8:18 pm
The average 30-year-old is on SEVEN (7) prescription medications??

And 70 is pretty old, I guess, but TWENTY-SIX drugs is the average??
I read that 90% of those over 65 are taking either blood pressure or cholesterol medications. But I'm as astounded as you are by each of the stats you cited. I've made it so far to 68 without ever having any routine medications.

Vinny
Back when I started finding out about how many drugs young people were on, "give us free healthcare" came a bit more into focus. I was really staggered by the number of people on head meds.
Some 5500 years ago, before writing was invented to record it, the people of the city of Hamoukar, near rich copper mines, were subjected to the first known instance of urban warfare when an army from the city of Uruk attacked and fought their way through the streets, killing most everyone.
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Re: Countering medical cost myths

Post by vnatale » Tue Nov 05, 2019 8:37 pm

Kriegsspiel wrote:
Tue Nov 05, 2019 8:34 pm
vnatale wrote:
Tue Nov 05, 2019 8:23 pm
Xan wrote:
Tue Nov 05, 2019 8:18 pm
The average 30-year-old is on SEVEN (7) prescription medications??

And 70 is pretty old, I guess, but TWENTY-SIX drugs is the average??
I read that 90% of those over 65 are taking either blood pressure or cholesterol medications. But I'm as astounded as you are by each of the stats you cited. I've made it so far to 68 without ever having any routine medications.

Vinny
Back when I started finding out about how many drugs young people were on, "give us free healthcare" came a bit more into focus. I was really staggered by the number of people on head meds.
When I was in school my generation was not even aware of attention deficit disorder and, of course, no drugs were being proscribed for it. Now you are reminding me that sometime in the 90s that doing so became not so rare?

Vinny
"I only regret that I have but one lap to give to my cats."
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Re: Countering medical cost myths

Post by pugchief » Tue Nov 05, 2019 8:42 pm

vnatale wrote:
Tue Nov 05, 2019 8:23 pm
Xan wrote:
Tue Nov 05, 2019 8:18 pm
The average 30-year-old is on SEVEN (7) prescription medications??

And 70 is pretty old, I guess, but TWENTY-SIX drugs is the average??
I read that 90% of those over 65 are taking either blood pressure or cholesterol medications. But I'm as astounded as you are by each of the stats you cited. I've made it so far to 68 without ever having any routine medications.

Vinny
Likewise. I'll be 60 in Feb and I take nothing.
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Re: Countering medical cost myths

Post by ochotona » Tue Nov 05, 2019 9:25 pm

58 and take 3. Mediocre genes.
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