nos-trum. pronunciation: \nos'-trum\. noun. Etymology: Latin, neuter of noster our, ours.
1. a medicine of secret composition recommended by its preparer but usually without scientific proof of its effectiveness.
2. a usually questionable remedy or scheme.
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Sunday, May 1, 2011

Medical Quotes v2 - 1 May

When I first bought a personal computer it was very expensive.  As technology got better, the price went way down.  Why has health care done the opposite? 

Everybody has an opinion.  Here's a refreshing perspective about spending that doesn't come directly out of your own pocket.

"On the whole, advancing medical technology, unlike agriculture or telecommunications, has been accompanied by exploding costs.  Why is health care the exception?  The reason is simple:  Americans do not pay directly for physicians or hospitals or other health providers.  A third party makes the vast majority of payments in the United States.  And as Prof. Friedman has observed, nobody spends somebody else's money as wisely as he spends his own."
--The Cure:  How Capitalism Can Save American Health Care, by Dr. David Gratzer (2006)

For those who say that market-based health care has failed, that's not the case.  To praphrase G. K. Chesterton on Christianity, it's not that market-based care has been tried and failed, it's that it's been found hard, and not been tried. 

The last time we had market-based care in this country was prior to World War II, when employers began to offer health insurance as an inducement, under wartime wage caps that made it hard to attract employees.  Since then, health care has become the most highly regulated segment of our economy.

Doc D

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