Friday, March 27, 2015

The sick health care market

Here's a great reminder that the health care market is not very comparable to traditional markets:

The charge for a lipid panel ranged from $10 to $10,169. Hospital prices for a basic metabolic panel (which doctors use to measure the body's metabolism) were $35 at one facility — and $7,303 at another ... Hsia's previous research looked at the cost of an appendectomy in California and found similarly gigantic variation. For an appendectomy with no complications, she found that hospitals in the state would charge anywhere between $1,529 and $186,955.

Different grocery stores tend to charge different prices for my favorite Haagen Dazs ice cream (chocolate chocolate chip). But the price varies from about $4 a pint to $5 a pint, not $4 to $4000. And if there was such a difference, I would be able to easily tell because the price would be indicated on the product before I bought it. And unlike an appendectomy, I could choose not to purchase it and still go about my day not dying, despite what my stomach is telling me.


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