How to Fix Health Care: Lasik Surgery For The Medical Debate

LASIK surgery is our favorite example of how price drops and quality/value rises when patients pay for medical care out of their own pocket rather than with someone else’s money (ie your insurance company).  When LASIK was only available as an out-of-pocket procedure, patients became savvy consumers and researched the procedure type, equipment, and credentials of their surgeon before they made their choice.  If an ophthalmologist wanted to bring in more patients, he/she either had to lower the price, or improve the quality of what was offered and get the information out there to the consumers through marketing, or do both.  LASIK was in high demand, so more surgeons became trained in newer methods of LASIK, bought newer equipment, and still dropped their prices to compete with those that had not made the improvements because consumers were still looking at the bottom line.  These improvements and price drops were the choice of the surgeon, and they were glad to do it when it resulted in increased patient flow and more revenue for their business. 

Improve choice and prices by creating competition – post your medical need on MediBid.com and let physicians and hospitals send you Bids.

I like the comment about health care as an all-you-can-eat buffet.  :)  This video is from reason.tv.

One response

To me, the premise of the video is beyond question. That is that markets will invariably result in rising quality and falling prices. It is just so obvious. I love the comparison between Best Buy and the statist situation in health care. Better yet, compared Lasik eye surgery versus the rest of health care. We do the politicians insist on imposing more control on health care when we need less?

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