Beware of the news; usually the main thing one learns is that long term trends continue. Case 1: US medical spending, now >16% of GDP, continues to double as a fraction of GDP every three decades. Politicians worry and agonize, but refuse to actually cut. Specifically, a recent article said Congress keeps postponing ’97 rules it set to limit rising Medicare fees, and rising fees plus a huge increase in number of doc visits led to a 51% increase in Medicare payments to docs from ’00 to ’08. The low chance of remedial action is shown by the article title: “Doctors say Medicare cuts force painful decision about elderly patients.” (
Med Trends Continue
Med Trends Continue
Beware of the news; usually the main thing one learns is that long term trends continue. Case 1: US medical spending, now >16% of GDP, continues to double as a fraction of GDP every three decades. Politicians worry and agonize, but refuse to actually cut. Specifically, a recent article said Congress keeps postponing ’97 rules it set to limit rising Medicare fees, and rising fees plus a huge increase in number of doc visits led to a 51% increase in Medicare payments to docs from ’00 to ’08. The low chance of remedial action is shown by the article title: “Doctors say Medicare cuts force painful decision about elderly patients.” (
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