Yeah, this isn’t going to go the way people think it’s going to go.
In an ideal world, yes. The medical debt would simply disappear and the providers would simply accept that they’ll make slightly less profit overall. But that isn’t the world we live in. That will never happen.
Providers are going to look at this uncollected debt and see it as unrealized profit. In their minds, they “deserve” to make $X million in profits, and if those unpaid bills cut into that, they are just going to raise prices accordingly (along with a little extra) to make up for it. This means that insurance companies will be paying more, and those who can afford to pay in the first place will be charged more as well.
Insurance companies are not going to allow this to stand either. Their increased costs (and a little extra on top for them) will be passed onto their customers in the form of higher premiums, higher deductibles, and less coverage. This will cause people to be priced out of the healthcare market and ultimately cause even more people to default on their medical bills, causing a feedback loop.
At the end of the day, those who are ultimately paying for health insurance and covering some of their costs out of pocket are going to end up paying a hell of a lot more, essentially subsidizing the people who are having their existing medical debt discharged. This feedback loop could very quickly spiral out of control, leaving hospitals without funding as people just decide to say “fuck it” and ignore their medical bills entirely since there’s no consequence for doing so. This will cause providers and hospitals to close up shop, leaving the entire area worse off and with fewer options, further exacerbating the feedback loop.
If customers are ultimately not going to be held accountable for the debt, we need to switch to a universal healthcare system, because the system as it is isn’t sustainable. If the government isn’t going to pay, and the insurance companies aren’t going to pay, and the customers either can’t afford to pay or just don’t bother to because they can’t be held accountable, who’s going to?
Providers are going to look at this uncollected debt and see it as unrealized profit. In their minds, they “deserve” to make $X million in profits, and if those unpaid bills cut into that, they are just going to raise prices accordingly
Lol, my dude. Providers have nothing to do with how much you are charged. As a “provider” the only association I have with your insurance or payment is to make sure I input the correct icd-10 codes.
Medicare largely sets the basic price for healthcare in the US because it’s the largest insurance pool. If you are charged more or less than the Medicare allowable it’s because your insurance company and a hospital administrator have made a contract behind closed doors.
if those unpaid bills cut into that, they are just going to raise prices accordingly (along with a little extra) to make up for it. This means that insurance companies will be paying more, and those who can afford to pay in the first place will be charged more as well.
We are already doing that for people who lack insurance and are therefore reliant on emergency medicine for basic healthcare needs. Most of a hospitals funding brought in by specialty departments like orthopedics goes directly into funding their emergency medicine departments. Uncollected co-pays or deductibles are just a drop in the bucket that most practitioners would love to write off if allowed (insurance companies mandate that we collect these to dissuade people from utilizing their insurance).
customers are ultimately not going to be held accountable for the debt, we need to switch to a universal healthcare system, because the system as it is isn’t sustainable.
The system isn’t sustainable as it is…Hence the extreme rise in cost for healthcare. Private insurance can only remain in solvency by denying care to their neediest subscribers, or by offloading them onto socialized systems when they become chronically ill.
the government isn’t going to pay, and the insurance companies aren’t going to pay, and the customers either can’t afford to pay or just don’t bother to because they can’t be held accountable, who’s going to?
It’s almost like for profit healthcare is a bad idea…
Yeah, this isn’t going to go the way people think it’s going to go.
In an ideal world, yes. The medical debt would simply disappear and the providers would simply accept that they’ll make slightly less profit overall. But that isn’t the world we live in. That will never happen.
Providers are going to look at this uncollected debt and see it as unrealized profit. In their minds, they “deserve” to make $X million in profits, and if those unpaid bills cut into that, they are just going to raise prices accordingly (along with a little extra) to make up for it. This means that insurance companies will be paying more, and those who can afford to pay in the first place will be charged more as well.
Insurance companies are not going to allow this to stand either. Their increased costs (and a little extra on top for them) will be passed onto their customers in the form of higher premiums, higher deductibles, and less coverage. This will cause people to be priced out of the healthcare market and ultimately cause even more people to default on their medical bills, causing a feedback loop.
At the end of the day, those who are ultimately paying for health insurance and covering some of their costs out of pocket are going to end up paying a hell of a lot more, essentially subsidizing the people who are having their existing medical debt discharged. This feedback loop could very quickly spiral out of control, leaving hospitals without funding as people just decide to say “fuck it” and ignore their medical bills entirely since there’s no consequence for doing so. This will cause providers and hospitals to close up shop, leaving the entire area worse off and with fewer options, further exacerbating the feedback loop.
If customers are ultimately not going to be held accountable for the debt, we need to switch to a universal healthcare system, because the system as it is isn’t sustainable. If the government isn’t going to pay, and the insurance companies aren’t going to pay, and the customers either can’t afford to pay or just don’t bother to because they can’t be held accountable, who’s going to?
Lol, my dude. Providers have nothing to do with how much you are charged. As a “provider” the only association I have with your insurance or payment is to make sure I input the correct icd-10 codes.
Medicare largely sets the basic price for healthcare in the US because it’s the largest insurance pool. If you are charged more or less than the Medicare allowable it’s because your insurance company and a hospital administrator have made a contract behind closed doors.
We are already doing that for people who lack insurance and are therefore reliant on emergency medicine for basic healthcare needs. Most of a hospitals funding brought in by specialty departments like orthopedics goes directly into funding their emergency medicine departments. Uncollected co-pays or deductibles are just a drop in the bucket that most practitioners would love to write off if allowed (insurance companies mandate that we collect these to dissuade people from utilizing their insurance).
The system isn’t sustainable as it is…Hence the extreme rise in cost for healthcare. Private insurance can only remain in solvency by denying care to their neediest subscribers, or by offloading them onto socialized systems when they become chronically ill.
It’s almost like for profit healthcare is a bad idea…