1. Free Market Healthcare By Cindy Bisner

2. Free Market Healthcare Introduction Health care spending is growing unsustainably Over the past 30 years, health care spending hasgrown more than 2 percentage points faster thanthe economy overall Healthcare spending now stands at 18 percent ofGDP 3. Free Market Healthcare Why are costs so high? Various government policies that have removedpatients as purchasers in the medical marketplace Overuse of medical resources by patients Administrative and paperwork costs that areunnecessary for the provision of health care Fear of malpractice suits 4. Free Market Healthcare Possible solution Free market healthcare system Healthcare market like any other consumer market that is driven by price and competition. Less regulation Less government involvement 5. Free Market HealthcareCurrent SystemFree Market System Government directly controls nearly Arrangement which allowshalf of all health care spendingbuyers and sellers to Government controls more than halfcommunicate exchange of goods,of the nations health insuranceservices or resourcesdollars Exchange occurs without More than half of U.S. health careinterference from thespending takes place undergovernment price and exchangegovernmentcontrols Transparency of costs Regulations imposed by the Consumers control healthcaregovernment on physicians, payers, dollarsmedical products, and health care Consumer choicefacilities Competition 6. ExamplesHSA (Health Savings Account)Lasik surgery Removes relationship Highest patient satisfactionbetween a patient and costs Patient choice Turns patient into consumer Not heavily regulated Control over health dollars Market advertising, price More cost-effective competition Has fallen significantly inprice despite theadvancements intechnology 7. Free Market Healthcare Argument against Healthcare system unique Unpredictability Barriers to Entry Medicine is complicated Payment methods 8. Free Market Healthcare Conclusion Give consumers the power of demand for lowprice and quality and the providers will have tocomply or would not survive as a business 9. Free Market HealthcareThank You