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Thread: The U.S. Economy Can't Hire Health-Care Workers Fast Enough

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    Re: The U.S. Economy Can't Hire Health-Care Workers Fast Enough

    Quote Originally Posted by joG View Post
    When you get things paid for you used to pay for out of your own pocket, they thus become "free goods" in context of the consumption decision, people will tend to buy more. This will tend to be the case as more people get insured and learn new optimizing behavior.
    A large portion of those new to getting insurance are paying for it themselves, and the vast majority of insured people pay for it. There is not free for all insurance. That is just hysterical nonsense.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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    Re: The U.S. Economy Can't Hire Health-Care Workers Fast Enough

    The world bank has U.S. health expenditures increasing as a percentage of GDP from 13.2% in 1995 to 17.1% 2014. The percentage of that which reflects government spending in the healthcare sector was 9.4% in 2012 (under 'Perspectives' change 'Total' to 'Public' here and then look for the United States in the graph and hover your mouse over the bar).

    It's driven by demand, not materially affected yet by the slowly forming negative consequences of our rapidly escalating national debt, etc...

    However, the present rapid rate of demand will eventually level off and diminish following the decline of the baby boomers and the negative consequences of present U.S. policies will eventually manifest materially impacting sectors that rely heavily on government spending (unless desirable reforms are implemented).

    Bottom line: Healthcare is a bubble that you can ride for the next twenty to thirty years.

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    Re: The U.S. Economy Can't Hire Health-Care Workers Fast Enough

    US health care is far more costly per capita than other developed nations, we get middling results, and we still don't cover everyone. As long as we keep relying on "for-profit" providers, this won't change.

    Fifty hospitals in the United States are charging uninsured consumers more than 10 times the actual cost of patient care, according to research published Monday.

    All but one of the facilities are owned by for-profit entities and the largest number of hospitals — 20 — are in Florida. For the most part, researchers said, the hospitals with the highest markups are not in pricey neighborhoods or big cities, where the market might explain the higher prices.
    50 hospitals charge uninsured more than 10 times cost of care, study finds - The Washington Post

    Ah yes, the "magic of the marketplace."

    Last edited by jpn; 06-09-15 at 10:35 PM.

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    Re: The U.S. Economy Can't Hire Health-Care Workers Fast Enough

    Quote Originally Posted by logansrun View Post
    Those help wanted ads may be because they are looking for people who will work for less than the person currently holding the position instead of creating new positions.
    No, that's not how the law of supply and demand works. They are looking for people because they need people. They aren't hiring what they need because of an inadequate supply of skilled candidates.

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    Re: The U.S. Economy Can't Hire Health-Care Workers Fast Enough

    Quote Originally Posted by logansrun View Post
    Those help wanted ads may be because they are looking for people who will work for less than the person currently holding the position instead of creating new positions.
    Data for the last 5 years argues against this scenario:

    National employment: +3.4%
    National increase in the mean wage: +1.7% per year

    Health Professions: +9.1%
    Increase in the mean wage for health professions: +1.8% per year
    * - includes technical support personnel, among others.

    Physicians: +13.6%
    Increase in the mean wage for physicians: +1.8% per year

    There has also been an ongoing long-term trend in which the number of surgeons has been declining. That trend commenced in 2004. It has slowed in recent years, but it likely represents the retirement of Baby Boom surgeons far more than policy changes. Indeed, the rate has slowed over the past 5 years with a slight increase in the past year. The growing demand in surgical procedures driven by the aging of the nation's population coupled with the past decline in the number of surgeons has probably contributed to at least some share of the rapid growth in health care openings. The BLS projects that openings in the surgeons field will grow much faster than the national average over the next 10 years.
    Last edited by donsutherland1; 06-10-15 at 09:08 AM.

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    Re: The U.S. Economy Can't Hire Health-Care Workers Fast Enough

    Quote Originally Posted by Redress View Post
    A large portion of those new to getting insurance are paying for it themselves, and the vast majority of insured people pay for it. There is not free for all insurance. That is just hysterical nonsense.
    What I thought to say was not that the insurance premium was free. What is thereafter free or at least much cheaper than a market price would be, and this is the crucial piece of the argument, is consumption of medical services and hardware. This means that more will be demanded by consumers, than was before the policies kicked in. You should expect an increase in demand, prices and the aggregated cost across the economy.

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    Re: The U.S. Economy Can't Hire Health-Care Workers Fast Enough

    Quote Originally Posted by jpn View Post
    I thought he wanted money for his family after he dies, which sounds more like a lack of life insurance than a problem with his union negotiated health benefits.

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    Re: The U.S. Economy Can't Hire Health-Care Workers Fast Enough

    Quote Originally Posted by joG View Post
    What I thought to say was not that the insurance premium was free. What is thereafter free or at least much cheaper than a market price would be, and this is the crucial piece of the argument, is consumption of medical services and hardware. This means that more will be demanded by consumers, than was before the policies kicked in. You should expect an increase in demand, prices and the aggregated cost across the economy.
    I do not think you understand how insurance works. The premium is to spread out the cost, and so that the big expensive stuff like hospital stays are not all out of pocket, but shared with the others buying insurance. Insurance does not make health care free. Insurance companies profit from selling insurance, as most people spend less on health care than the cost of insurance.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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    Re: The U.S. Economy Can't Hire Health-Care Workers Fast Enough

    Quote Originally Posted by Redress View Post
    I do not think you understand how insurance works. The premium is to spread out the cost, and so that the big expensive stuff like hospital stays are not all out of pocket, but shared with the others buying insurance. Insurance does not make health care free. Insurance companies profit from selling insurance, as most people spend less on health care than the cost of insurance.
    What you say is not totally untrue. Where the narrative breaks down is in not looking at the effect paying nothing or much below market pricing has on the consumers' decisions. They consume more.

    Think of it this way. The doctor says you should have treatment worth $ 150.000 but can get something less pleasant, a little more painful and with less saticefactory results for $ 15.ooo. Some people will go for the less expensive, if they are not insured.

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    Re: The U.S. Economy Can't Hire Health-Care Workers Fast Enough

    Quote Originally Posted by jpn View Post
    US health care is far more costly per capita than other developed nations, we get middling results, and we still don't cover everyone. As long as we keep relying on "for-profit" providers, this won't change.


    50 hospitals charge uninsured more than 10 times cost of care, study finds - The Washington Post

    Ah yes, the "magic of the marketplace."

    Socialism is never a legitimate solution.

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