Here's one of the things that pleasantly surprised me given my prior
view about prices, a view based in part on asking around in the Monterey
area:
So Nunamaker and his partner set up a membership-based practice called Atlas M.D. -- a nod to free-market champion Ayn Rand's book Atlas Shrugged.
Under the membership plan -- also known as "concierge" medicine -- each
patient pays a flat monthly fee to have unlimited access to the doctors
and any service they can provide in the office, such as EKGs or
stitches.
The fee varies depending on age. For kids, it's $10 a month. For
adults up to age 44, it's $50 a month. Senior citizens pay $100.
Senior citizens pay only $100 a month? Holy cow. That's about half what
my investigation showed locally. Of course, Wichita, Kansas ain't, cost
of living-wise, Monterey, California.
And I
loved this paragraph:
The office has negotiated deals for services outside the
office. By cutting out the middleman, Nunamaker said he can get a
cholesterol test done for $3, versus the $90 the lab company he works
with once billed to insurance carriers. An MRI can be had for $400,
compared to a typical billed rate of $2,000 or more.
Shortly after my book
The Joy of Freedom: An Economist's Odyssey
came out in September 2001, a doctor in Tennessee emailed me and told
me that he was doing something similar and that the motivation for it
was the same kind of thinking I had in chapter on health care.
Unfortunately, when my office burned down in 2007, I lost that email."
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