the real cost of medicine
this is an i.u.d. it is a kind of birth control inserted into the uterus made of flexible plastic, coiled copper or time-released hormones, and something akin to a fishing line. the actual manufacturing cost of this device is less than 0.25$ per device. the device is passed through the cervix into the uterine cavity where the t shape naturally flexes outward to hold it in place. the installation takes less than five minutes, is very safe, requires no skill, no remarkable training, and no special equipment (scissors-5$, forceps-5$, and speculum-13$; all reusable).
to have this procedure done without insurance coverage will only cost you 2,370.13$ u.s.d.
the real cost is a result of federal and state licensing and regulations, tort law costs, along with government and insurance middlemen. even if you don’t have insurance the cost remains high because insurance inadvertently maintains prices in the market as the biggest customer of medical services. that is to say that if you were a doctor and the insurance company says they will not pay more than 2400$ for an i.u.d then you can safely set your price to 2400$ no matter how low the cost actually is.
also as the doctor, you must not only recoup the costs of medical school, medical licensing for you and every member of your staff but you also have to pay for general city and state licensing annually to maintain the practice and facility. and you have to hire administrators to process the paperwork required by insurance and government bureaucrats.
if you were the manufacturer of the i.u.d you would set the price high enough to pay for the lawsuits and settlements arising from unintended and unforeseeable consequences as well as the cost of licensing with the f.d.a et al. of course as a result of your innovation you are awarded a patent that costs millions that gives you a right to the monopoly. of course, no competitor would dare challenge you because of the cost of the patent and also because of the cost of going up against a multi-billion-dollar company that will spare no cost to maintain their government-granted/government-defended monopoly.
as the end-user with insurance, when you get an i.u.d you don’t have to pay the 20$ to buy the tools, the 10 minutes to learn how to install it, or for the 5 minutes of the doctors time, insurance takes care of all that hassle for you and it only costs you 500 /month whether or not you actually use your insurance, lucky you. maybe you never actually need your insurance, feel free to go see a doctor for your sniffles so that you can be sure to get your money’s worth, remember, it doesn’t matter how much medical resources you use you have a right to abuse the system. if you don’t use it, you can feel happy knowing that the socialized funds will pay for your neighbor’s sniffles and cancer alike, it also pays for the government bureaucrats, insurance middlemen, the sociology and calculous courses required by the federally and state tax-subsidized colleges and universities so that your doctor can successfully use tweezers in this simple application.
if something goes wrong you can always use tort law to sue the doctor for millions. let everyone else pay for the doctor’s mistake, they pay insurance it won’t hurt them.
if you don’t remember anything else, remember this: you are too stupid to know how to choose a doctor or take care of your own medical choices, you need the government regulators, government licensing, insurance middlemen and overeducated professionals. you need them… or else!
Article from r/Libertarian: For a Free Society