Comments on: INFORMATION ASYMMETRY AND THE HEALTH CARE MARKET http://www.healthcarebs.com/2007/12/15/information-asymmetry-and-the-health-care-market/ Cleaning the Augean Stables of the Health Care Debate Wed, 23 Jul 2008 17:14:46 +0000 http://wordpress.org/?v=2.3.3 By: Rich http://www.healthcarebs.com/2007/12/15/information-asymmetry-and-the-health-care-market/#comment-12503 Rich Sat, 15 Dec 2007 23:48:11 +0000 http://www.healthcarebs.com/2007/12/15/information-asymmetry-and-the-health-care-market/#comment-12503 "it is far more difficult to make decisions faced with a myriad of competing private providers" I guess you are right. The government SHOULD tell us what to do. I suppose you feel the same way about other professionals - accountants, lawyers, investment advisors - how could an average citizen EVER choose among them? There are also too many variety of automobile and toothpaste to choose from... “it is far more difficult to make decisions faced with a myriad of competing private providers”

I guess you are right. The government SHOULD tell us what to do.

I suppose you feel the same way about other professionals - accountants, lawyers, investment advisors - how could an average citizen EVER choose among them? There are also too many variety of automobile and toothpaste to choose from…

]]> By: Marc Brown http://www.healthcarebs.com/2007/12/15/information-asymmetry-and-the-health-care-market/#comment-12497 Marc Brown Sat, 15 Dec 2007 21:33:44 +0000 http://www.healthcarebs.com/2007/12/15/information-asymmetry-and-the-health-care-market/#comment-12497 'The essence of single-payer dogma on the health care market is that the patient is just too ignorant to make good health decisions without the aid of Big Brother.' Wrong again - it is far more difficult to make decisions faced with a myriad of competing private providers, and your present system as we well know encourages over-treatment and some bad advice - why, you posted the other day about Bexxar - but as it has to be administered in controlled settings it means oncologists who recommend it could lose their patients and their money. As for making choice over how to treat a cold - I say get a quadruple opinion. Or concede that actually it is for serious conditions where second opinions are more important and where you are more likely to run up against medical orthodoxy and the trust factor. ‘The essence of single-payer dogma on the health care market is that the patient is just too ignorant to make good health decisions without the aid of Big Brother.’

Wrong again - it is far more difficult to make decisions faced with a myriad of competing private providers, and your present system as we well know encourages over-treatment and some bad advice - why, you posted the other day about Bexxar - but as it has to be administered in controlled settings it means oncologists who recommend it could lose their patients and their money.

As for making choice over how to treat a cold - I say get a quadruple opinion. Or concede that actually it is for serious conditions where second opinions are more important and where you are more likely to run up against medical orthodoxy and the trust factor.

]]> By: Catron http://www.healthcarebs.com/2007/12/15/information-asymmetry-and-the-health-care-market/#comment-12488 Catron Sat, 15 Dec 2007 18:45:00 +0000 http://www.healthcarebs.com/2007/12/15/information-asymmetry-and-the-health-care-market/#comment-12488 90% of health care <em>transactions</em> involve the relatively minor stuff. The results of the <a href="http://www.rand.org/pubs/research_briefs/RB9174/index1.html" rel="nofollow">HIE</a> suggest that allowing the market to work for these transactions would probably ease demand enough to save stupendous amounts of money. Moreover, “serious chronic illness” doesn’t necessarily mean medical emergencies in which there is no time to access useful data. Nor does it imply intellectually-stunted, physically helpless proles supinely waiting for the incantations of the physician-priest. This is anecdotal, of course, but I personally know two people with chronic heart disease who have in the last six months changed doctors because they disagreed with proposed treatments or procedures. People are smarter than you think. 90% of health care transactions involve the relatively minor stuff. The results of the HIE suggest that allowing the market to work for these transactions would probably ease demand enough to save stupendous amounts of money.

Moreover, “serious chronic illness” doesn’t necessarily mean medical emergencies in which there is no time to access useful data. Nor does it imply intellectually-stunted, physically helpless proles supinely waiting for the incantations of the physician-priest.

This is anecdotal, of course, but I personally know two people with chronic heart disease who have in the last six months changed doctors because they disagreed with proposed treatments or procedures.

People are smarter than you think.

]]> By: Maggie Mahar http://www.healthcarebs.com/2007/12/15/information-asymmetry-and-the-health-care-market/#comment-12487 Maggie Mahar Sat, 15 Dec 2007 17:54:02 +0000 http://www.healthcarebs.com/2007/12/15/information-asymmetry-and-the-health-care-market/#comment-12487 The bulk (roughly 3/4) of our health care dollars are spent on patients when they are suffering from a serious chronic illness. That's what the health care "market" is all about. Thus, the example of a patient suffering from cancer is far more relevant to how that market actually works than the example of deciding whether to go to the ER if you have a cold. The bulk (roughly 3/4) of our health care dollars are spent on patients when they are suffering from a serious
chronic illness. That’s what the health care “market” is all about.

Thus, the example of a patient suffering from cancer is far more relevant to how that market actually works than the example of deciding whether to go to the ER if you have a cold.

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