How Medicare’s Payment System Discourages Quality and Innovation
26th May 2012
Politicians are always quick to declare that America’s seniors depend on Medicare for their health. But seniors also depend on innovation in medical practice and technology. And Medicare’s top-down payment system represents a significant burden to improving both. In remarks given at a recent Harvard debate, Neil Minkoff, the founder of FountainHead Health and a commissioner on the Massachusetts Group Insurance Commission, does a good job of summarizing how Medicare’s centralized payment system discourages quality in medical servicing.
Gotta love that government health care. Before too long, government health care will be delivering the same quality product as government schools. What a paradise we’ll have then!