Medindia

X

US Health Insurance Cos may Become Extinct by 2020, Say Experts

by Lakshmi Gopal on  February 14, 2012 at 2:19 AM Health Insurance News   - G J E 4
Will health insurance companies in the US fade out completely by 2020? This is what former advisors to the Obama administration, Ezekiel J Emanuel and Jeffrey B Liebman writing in the Opinion pages of The New York Times, boldly predict.
 US Health Insurance Cos may Become Extinct by 2020, Say Experts
US Health Insurance Cos may Become Extinct by 2020, Say Experts
Advertisement

They say that the extinct breed of insurance companies will be replaced by 'Accountable Care Organizations (ACOs) — groups of doctors, hospitals and other health care providers who come together to provide the full range of medical care for patients'.

Advertisement
To this, Dr. George Watson, former president of the Association of American Physicians, says in news.heartland.org, 'Perhaps doctors will finally realize that they were brainwashed to believe they could not succeed unless they signed all the insurance contracts. Doctors will suddenly realize that patients need doctors, not insurance companies, and patients will gladly pay a fair, transparent price, not the inflated price caused by the insurance game. Doctors will learn to trust each other and their patients, and boot out the lying insurance companies and politicians.'

He finally concludes, 'The third-party payment model has failed. Managed care didn't save it, and neither can ACOs. It deserves to be extinct, and it will be if patients and physicians return to the direct-payment model that has always worked, and true insurance is allowed to compete fairly.'



Source: Medindia
Advertisement

Post your Comments

Comments should be on the topic and should not be abusive. The editorial team reserves the right to review and moderate the comments posted on the site.
User Avatar
* Your comment can be maximum of 2500 characters
Notify me when reply is posted I agree to the terms and conditions

You May Also Like

Advertisement
View All