Jim Millaway sent me this article recently. Basically, Detroit Medical Center plans to spend $850 million on various projects over the next few years. That’s right. Detroit. People are fleeing this city at an alarming rate, businesses are failing and the city has declared bankruptcy. But there is one sector of the economy that is booming: healthcare. Not free market healthcare, but the type the cartel loves, where no matter how everything else is going in the economy, they are winners.
The pensions and health plans of many of the city’s employees have been crushed under the burden of health care expenses in this city, as in many others. Where did this hospital system get this type of dough, anyway?
The idea that hospitals are going broke in cities not facing the difficulties of Detroit, while a hospital system in this city can announce a capital spending spree that would make a Vegas casino blush, should once and for all bring those who have fallen for the poor mouthing hospital lies to the realm of the skeptic. How many bankruptcies is this hospital system responsible for? How can the leftist collectivists support this crony capitalism?
The issue of big hospital systems bankrupting individuals and contributing to the failure of communities in general is not partisan. I believe that price transparency and true competition will put an end to this reign of price terror that corporate medicine has foisted on all of us. What an incredibly revealing article.
G. Keith Smith, M.D.