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by killjoywashere
1521 days ago
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Thank the hero of Medicare, Lyndon Johnson. When CMS actually needed to start pricing things, he directed them to his old buddy, the famous heart surgeon, Michael DeBakey. DeBakey sent a couple fellows of his to DC to write up the price list for CMS. Shockingly, surgical procedures got a lot of money and office visits got approximately nothing. This has propogated for 60 years now with increasing precision as the rate of inflation gets applied over and over. A WAG of "10,000 for bypass" is now "57,348.32 +/- 343.43" but the error represents the uncertainty in inflation over time, not any better resolution on the cost of the procedure. |
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The majority of the blame here lies with the thousands of politicians, bureaucrats, and administrators who haven't reformed the system in *sixty years*. Not the people who were doing their best with much less information than their successors have had.