The weekend's edition of the Wall Street Journal carried an editorial detailing Massachusetts' governor Deval Patrick heavy-handed imposition of price controls on all aspects of the medical sector, including non-profit providers.
The Journal notes that the state's insurance regulators have had power over pricing since 1977. But, as the editorial points out, this time Patrick is going after and demonizing hospitals such as Blue Cross Blue Shield and Harvard Pilgrim, which are non-profits.
There's no ability to decry shareholders enriching themselves in these cases. But Patrick is still objecting to reasonable price increases.
It's instructive to the nation, as Obamacare gets rolling.
If a single state can't manage to contain costs, after passing a virtual blueprint for the recent federal law, without resorting to simple price controls, what do you think will happen to the nation's health care situation?
What do you suppose will happen to the availability of health care, the prices for which are held artificially low?
Now Massachusetts has both over-spent, and clamped down on provision of health care, via price-controls.
Precisely what critics of Wonderboy's health care fear.
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