The Daily Scan: Beyond a Dying Private Health Insurance Industry: A Hidden Solution in Plain View

From the Medscape Journal of Medicine, a nicely argued video from Dr. John Geyman about the fact that the private health insurance industry is dying, and what can be done to revive it.

From the article:

The health insurance industry in America is dying. How can that be -- such a powerful, $300 plus-billion industry with so many lobbyists? Here are some benchmarks of its death march:

Growing unaffordability of premiums, which grew 87% between 2000 and 2006, and are projected to consume one third of family income by 2010 and theoretically all of it by 2025.
Forty-six million Americans are without health insurance, and at least another 25 million are underinsured.
Four of 10 Americans are "somewhat" or "completely" unprepared to cope with a costly medical emergency in the coming year.
The private market now includes less than 60% of employers, and in 2005, only 6% of US employers covered the full cost of family coverage.
While the insurance market fell by 1% between 2000 and 2005, its work force grew by one third (mostly new employees involved with denial management).
Private insurers can't compete with public financing on a level playing field. For example, private Medicare Advantage plans require government overpayments of 112% to 119% compared to traditional Medicare.

Fortunately, we have a solution -- strengthened Medicare for All (H.R. 676), coupled with a private delivery system. Reliable public financing and shared risk across all 300 million Americans creates a win-win for everyone except a failed insurance industry. Physicians can rid themselves of the bureaucracy of 1300 private insurers and have more time and clinical autonomy for patient care. To learn more, read references 9 and 10. We physicians need to join with patients in working toward real healthcare reform, thereby asserting the public interest over corporate self-interest.

Interesting... I encourage you to click through and watch the video for yourself.