That's the amount consumers would pay due to increased prices, on the assumption that they would purchase the very same services as they do today . Whatever the exact figures, no elaborate studies are needed to see why price would increase substantially under HR 1304. Consider the case of physicians. If all the physicians in a particular specialty and a particular geographic region banded together, as this bill invites them to do, they would have tremendous market power, far outweighing the power of most health plans. Most of the services performed by physicians have no acceptable substitutes.
Consumers are at their mercy.
What's more, new entry into the market is slow and unpredictable. Unlike entry into most other businesses, entry into a particular medical specialty is restricted by state licensing requirements. This cost projection calls for a more nuanced analysis. If the increase in utilization actually raises quality from a sub-optimal level to a more nearly optimal level, and costs increase concomitantly, then consumers may indeed benefit. They are not.