Paduda: Hypocrisy and Hippocrates

Friday, August 13, 2021 | 0

A physician posting on MedPage blamed many of the problems in health care on private equity and for-profit insurers.

Joe Paduda

That takes some (insert anatomical reference here). While his assault on private equity does have some merit, I can’t let stand his assertion that the profiteers are insurance companies.

What makes me nuts is his mindless and demonstrably false assertion, coupled with his complete inability to see that he is part of U.S. health care’s cost problem.

Dr. Mitchel Liu stated, “For-profit insurance companies have long been regarded as the ultimate offenders in medical profiteering.”

Wow. Coming from an American physician — who make more than doctors in any other country — that is ballsy, indeed.

The reality is, physician compensation is a key driver of health care costs and one of the reasons our health care costs are so much more expensive than in other countries. For-profit health plans do make billions, but their margins are tiny compared to health care providers.

Liu also says, “It’s time for medicine, including individuals and professional societies, to restore the integrity of the physician-patient relationship by taking a strong stand against all forms of corporate greed.”

Well, docs are often partners in ambulatory surgical centers and hospital outpatient surgery centers. Many docs belong to big multi-specialty groups that are quite profitable. And, docs make a lot of money.

What does this mean for you, Dr. Liu?

How about taking a stand against physician greed, Dr. Liu?

Joseph Paduda is co-owner of CompPharma, a consulting firm focused on improving pharmacy programs in workers’ compensation. This column is republished with his permission from his Managed Care Matters blog.