Wednesday, April 01, 2020

How Would Free Market Health Care Respond To The Coronavirus?

John C. Goodman

Have you ever wondered how a free market for health care would handle the COVID-19 crisis? Most patients would have a health kit in their home, with a temperature gauge, blood pressure cuffs and an oxygen sensor. Patients would have these because doctors, hospitals and health plans would encourage them. Patients with older models would call in the readings to their doctors. Newer models would send the doctor an automatic, electronic alert if there was reason to be concerned. The initial doctor/patient contact would probably be by phone. If warranted, a virtual face-to-face examination by Skype or similar device would take place. If the services of a specialist were required, that connection would be made – again, remotely and electronically. If the patient were suffering from a cold or a mild case of the flu (which would be the case more than 90% of the time), the doctor would order a prescription, which would be filled and delivered by a local pharmacy. In the face of coronavirus indications, a doctor or nurse would arrive at the home (within an hour), take a swab sample and perform a COVID-19 test – with results in, say, 10 minutes. In the serious cases, patients would go to the emergency room. But that would not be a scene of coronavirus roulette, as it is today. Hospitals would know in advance which patients had the virus. A special team would be there to greet these patients. They would be escorted to isolated rooms with appropriate equipment and safeguards to protect other patients and hospital personnel. The demand for special masks (with better protection than the masks you see surgeons wearing on TV), ventilators and other equipment would rise dramatically. But it would be a targeted demand, informed by real data. You wouldn’t see hoarding and over-subscribing by providers who scramble to get more than they need “just in case.” The demand would be met by suppliers who would work nights and weekends to step up production because …. well …. because they would expect to get paid extra, just like in any other market. So why aren’t these things being done now? They are being done. But not as often as they should. The reason: government...MORE

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