It’s nice to see thoughtful discussion on the topic. And Ryan does a nice job explaining the benefits of markets.
Klein: When I think of getting Lasik, or buying a television, I can walk out of the store. That?s what gives me as a consumer my power in the market. But if I have chest pains and my doctor prescribes a bypass, how do I walk out of the store?
Ryan: In Milwaukee, the price of bypass ranges from $47,000 to $100,000. Nobody knows where to go for quality, or the prices. So wouldn?t it be good for the prices and quality metrics to be publicized? And let people make a decision. There?ll always be some level of co-pay or deductible or co-insurance that?s going to push people towards the best value. Then, when you have those chest pains and you?re being rushed in the ambulance, you?ll be rushed to a hospital that?s all along been competing for business and has been improved by that process. You?ll get better health care than you otherwise would. That?s how you improve the system.
