Medicine: The Death of a Profession

Published:

Medicine: The Death of a Profession
by Leonard Peikoff

This lecture was first delivered on April 14,1985 at the Ford Hall Forum in Boston.
http://www.aynrand.org/site/PageServer?pagename=arc_leonard_peikoff_medicine_the_death_of_a_profession

Entry #2,081

Comments

Avatar JAP69 -
#1
I took an interest in this article and a couple more I am posting based on "diagnosis-related group"
Avatar JAP69 -
#2
"DRG means “diagnosis-related group.” According to this approach, the government has divided all ailments into 468 possible diagnoses, and has set in advance a fixed, arbitrary fee for each: it will pay a hospital only what it claims is the average cost of the ailment. For example, for a Medicare patient in the Western Mountain region who is admitted to a hospital with a heart attack and finally recovers enough to go home, the government now pays the hospital exactly $5094—no more and no less. And it pays this amount no matter what the hospital actually does for the patient, no matter how long his stay or how short, no matter how many services he requires or how few. If the patient costs the hospital more than the government payment, the hospital loses money on him. If he costs less, the hospital makes a profit."
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Quite interesting. Learn something new everyday.
Avatar sully16 -
#3
This won't work, Hospitals can't run on losses, that means reduced wages, reduced hours, reduced benefits. welcome to socialism.
Avatar sully16 -
#4
or, let the culling begin.

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