Obamacare Already Starts Collapsing Into Medical-Industry Feeding Frenzy

Thursday, April 4, 2013
By Paul Martin

by Eric Zuesse.
April 3, 2013

Part of the Obama Administration’s promise to the American people regarding Obamacare was that the enormous waste in America’s medical expenses would be reduced. The reversal of that promise has already begun, with the Administration’s announcement on April 1st, that is will increase instead of (as had been promised) decrease, taxpayer subsidies to private health insurance companies.

Estimates of this waste already range generally around 40%. On 15 May 2007, Reuters headlined “US Health Care Expensive, Inefficient: Report,” and announced: “Americans get the poorest health care and yet pay the most compared to five other rich countries,” according to a study by the Commonwealth Fund. “The U.S. health care system ranks last compared with five other countries on measures of quality, access, efficiency, equity, and outcomes.” In other words, the U.S. was paying gold for garbage. “Canada rates second worst. … Germany scored highest, followed by Britain, Australia and New Zealand.” Moreover: “Per capita health spending in the United States in 2004 was $6,102, twice that of [top-rated] Germany, which spent 3,005. Canada spent $3,165, New Zealand $2,083 and Australia $2,876, while Britain spent $2,546 per person.” On top of that: “U.S. doctors are the least wired, with the lowest percentage using electronic medical records or receiving electronic updates on recommended treatments.” The conservatives’ myth that “free market” healthcare is more efficient, or is better, or is even more “wired,” than socialized health insurance, benefits only the corporate providers within the system, and the stockholders of those corporations. [Comment by Washington’s Blog: We don’t think capitalism is the problem … Indeed, we don’t even have free market capitalism in America today. Instead, we have fascism, communist style socialism, kleptocracy, oligarchy or banana republic style corruption … choose your label. Also, while Mr. Zuesse is passionately progressive, we are trying to follow the Founding Fathers’ advice to be non-partisan.] Everyone else loses.

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