https://www.beckersasc.com/benchmarking/how-physician-pay-in...
To lower medical salaries, we need to address (a) the AMA acting as a cartel, (b) residency slots being paid for by Medicare and being limited, and (c) crippling student debt problems. As an example, nurse practitioner salaries have dropped as supply has increased.
Wouldn't you have to decrease spending on admin and drugs up to 10x which would likely bring US well below the costs in most/all other rich c
I'm not sure how feasible it would be to reduce admin and drug costs by almost 10x?
Edit: to be fair 10x might not that far-fetched as I might have thought, admin costs are massively higher than anywhere else:
https://www.statista.com/statistics/1264127/per-capita-healt...
I'd assume the way they measure it might differ significantly between some countries. Also ~1000 is just 10% of per capita spending in the US.
If we look at drugs:
https://www.statista.com/statistics/266141/pharmaceutical-sp...
The gap is quite a bit smaller. Also in total drugs+admin seem to be about 25% or so?
Also, you have to be careful about how you account for “administrative costs”. Medicare has low “administrative costs” but correspondingly high rates of fraud vs. a typical private insurer who has the incentive to spend more looking for it—administrative costs.
[1] https://aspe.hhs.gov/sites/default/files/documents/88c547c97...
[2] https://time.com/5759972/health-care-administrative-costs/?a...
