Feb

7

We had a brilliant talk yesterday at my Junto by Keith Smith about his low cost, out-patient surgery with 0% suits against them, 99% patient satisfaction and 1/10 of the cost of comparable operations. The outfit has a founding philosophy in Austrian economics, and its creators gave up regular anaethesia in main stream hospitals because they didn't cotton to the bureaucracy and the situation where a hospital bills the patient 100000, the insurance company pays 30000, the surgeon receives $500. And the hospital reports a loss of millions from free care that they provide, and has cranes outside every wing of their existing facility.

Gene Epstein said: I first learned about the amazing work of Keith Smith in this video and article by Reason journalist Jim Epstein: Surgery Center Provides Free Market Medicine .

He quotes "the welfare of the people in particular has always been the alibi of tyrants" by Camus in reference to the eleemosynary activities of the " loss making" free care provided by emergency rooms. Also of note was the back and forth that emerged when I suggested that this national anthem mite be played at the BLS today. My successor as moderator of the Junta pointed out that not only the children of Furrier Workers were sent to Camp Kinderland in the Catskills, but future economics editors like himself went there also.


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