One Price Does Not Fit All for Medical Fees


It was 93 degrees and humid. Jimmy Lawrence put his first five quarters into the vending machine and selected a Coke. The machine refused to give him his beverage. Because the temperature was more than 90 degrees, the computer program within the vending machine had raised the price to $1.50. Is that fair pricing? …(Read…
Biologic drugs are a big deal for the pharmaceutical industry right now. Blockbuster chemicals for common conditions like diabetes and hypertension are largely things of the past. We’re getting pretty good at controlling those conditions, and few people expect a slew of major scientific breakthroughs that will lead to many more multibillion dollar treatments for…
One of my favorite reporters, Dan Gorenstein from NPR’s Marketplace, interviewed me and a few other people recently, to discuss challenges of trying to pay physicians, reward them essentially, for providing high-quality care. It turns out to be a much more complicated topic than you might think at first glance. Thought you might enjoy the…
In 2010, the state of Rhode Island decided to tackle high healthcare costs. It did so by requiring insurers to meet affordability standards. The plan worked, but not for the reasons you probably suspect. Let’s start with what Rhode Island’s standards look like. It required several things of insurers: Premium caps – with annual inflation equal…
If you have been paying attention to US healthcare policy debates lately, you know that hospitals have a price problem. Walk across the street from one hospital to a competitor hospital, and you could easily find yourself facing a $30,000 increase in your medical bills. At one extreme for instance recent information shows that replacing your hip…
American manufacturing has declined precipitously in the past few decades. Companies that were once the source of fabulous wealth for Americans – the U.S. Steel profits that enriched the Carnegie family, the Ford Motor F -1.29% Company profits that enriched its eponymous family – are now struggling to keep up with foreign competitors. Thank God…