Posted: May 08, 2012 4:45 pm
Loren Michael wrote:If there's competition, there's incentive to lower costs, improve the product, or both, in the interest of producing a profit.
I basically agree with what you are saying, but that's a big "if" at the front of that sentence. The US spends more per capita for fairly mediocre results. How does that fit into the equation?
I would say that the companies in the US are not competing on quality or value for their consumers, but rather on the basis of minimising operating costs (ie. finding new ways to stiff their members) in an environment where there is no real alternative for the consumer but to purchase "health insurance".