re: Fundamentally Speaking, are There Any Industries That Should Be Not For Profit?

Link it then? Should be easy. I will wait for the link that show all/some/most insurance companies only profit from denying claims. That’s a fairy tale.

This should be good.

The issue with the free market is that one way in which it is so efficient is that it is exclusive based on price and geography. This clashes with our expectations that all citizens are entitled to access to at least certain basic services (clean water, electricity, road access, postal service, etc.) Some people just aren’t worth the trouble for the free market to extend services to in the short term, or they are vulnerable to extreme geographic monopoly issues.

There’s also the inefficiencies created from redundant competing infrastructures, especially with respect to power generation and distribution.

While the free market is generally better for most everyone, and typically eventually reaches everyone, our senses of empathy tend to override this logic and endorse government action to ensure everyone gets access immediately.

What cases where you not compensated for a “legitimate” claim? Heath insurance or something else?

quote:

---

There are still people fighting for Katrina money.

---

Who? I’ve never heard of anyone being denied money for Katrina. Plus flood insurance is run through the government.

There are so many lies in this thread that I can't even begin to correct them all.

Many of those evil insurance companies are not for profit. Blue Cross is a non-profit in most states. That doesn't mean they don't make money. They make a lot of it.

Someone said profit margins are in the single digits for healthcare. That's typically not true for hospitals. Also, do you really think the Memorial Hermanns and Ochsners of the world don't make a lot of money? I promise you that they make a very lot!

CEOs of all these non-profits should just donate their time at much less than they'd make as CEO of another business? That's not going to happen. To attract top talent, you must pay the market rate for that talent.

The biggest thing that has driven up the cost of healthcare over the last 50 years has been technology, new drugs, and regulatory compliance.

New technology comes at a great price. 50 years ago, not every single hospital needed every new piece of equipment. States were charged with approving certificates of need and only allowed so many of new technology (for example a CT Scanner in 1985) in a city. People had to go to that site to get the scans done. Not so anymore. Lobbying was done by hospitals and people wanted convenience so most of those laws were changed and everyone has to have everything.

Drug companies spend so much on lobbying, regulatory compliance and advertising that drug prices are ridiculous.

Regulatory compliance requires whole departments of folks that employed maybe 1 person 50 years ago.

Here's the rule...these 3 things...access, newest technology, and low prices...pick any 2, because it's impossible to have all 3 at once!

This last paragraph is everything that drives your high healthcare costs!

quote:

---

Ochsners of the world don't make a lot of money? I promise you that they make a very lot!

---

Hey hey they don't make money! They just have "excess revenue"

To the unthinking idiot who downvoted that's straight out of a doctor's mouth. That's what they call profit in a non-profit businness "excess revenue"

quote:

---

Why is this thread not updating like the others?

---

It's "anchored" and will no longer bump to the top. Someone requested it.

quote:

---

Saying insurance companies don't profit off of denying claims has to be one of the most audacious lies I have heard in my life.

---

I mean they don't profit off of denying credible claims. For example, of Geico gets a reputation for not being adequate, I won't use them.

quote:

---

Drug companies spend so much on lobbying, regulatory compliance and advertising that drug prices are ridiculous.

Regulatory compliance requires whole departments of folks that employed maybe 1 person 50 years ago.

Here's the rule...these 3 things...access, newest technology, and low prices...pick any 2, because it's impossible to have all 3 at once!

---

Regulations are rigged by the FDA. There are lower cost medicines for multiple common ailments.

Im not disagreeing, but I believe the onus of high healthcare is tied to our regulations being in favor of insurance companies.

So of the trifecta you mentioned, newest technology is the scapegoat because outside of certain procedures (experimental surgeries, etc.) Shouldn't drug prices be lower? and don't get me started on all the "Boogeyman" drugs like Cannabis.