As the author says, “It’s worse than that.” The “bias to always raise prices” on the part of Medicare price fixers, is shared by manufacturers, suppliers, providers, insurers, and legislators who all have interests in putting more money into the system. The beneficiaries’ interests, the ones who ought to be providing demand input to the health care market to control pricing and supply allocation with their health care consumption free choices, are effectively muted. (click panels below to enlarge)
