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Showing posts with label free enterprise. Show all posts
Showing posts with label free enterprise. Show all posts

Monday, February 12, 2018

Free Enterprise in Action


Visiting Disneyland, a couple’s two year-old twins fell ill. The parents consulted the concierge, and a doctor who wasn’t me duly arrived.

A week later, the family traveled to Hollywood to spend a few days before flying home. That’s where I came on the scene.

The children had recovered, and I wrote my clearance-to-travel. From the parents’ description, they had suffered viral upper respiratory infections with cough, congestion, and general miseries. The hotel doctor had diagnosed: “otitis, tonsillitis, bronchitis, and mild pneumonia.” He had given injections, handed over medication, and written prescriptions for antibiotics, cough medicine, and eardrops.

The parents showed me his invoices. The fee for one child totaled $495, for the other $390. The prescriptions and injections came to over $100, so they paid about a thousand dollars for a single visit.

Nothing I do in a hotel room costs much, so I quote a flat fee and never charge extra for anything. That doctor billed $30 for an injection; those I carry for common problems (vomiting, pain, allergy) cost less than a dollar a dose. A syringe costs a dime. He handed over small packets of pills, charging $20 apiece. I carry similar packets containing from three to eight pills. Each pill costs between a nickel and a quarter. A bottle of cough medicine costs $1.50. A week’s supply of antibiotics is usually less than $5.00. I pay about $3.00 for a bottle of antibiotic eye drops. Perhaps my most expensive drug is antibiotic ear drops at $8.00. Doctors may charge $30 for a urinalysis, but the dipsticks they dunk in your urine come in bottles of 100 at $40.00. That’s 40 cents a dipstick.

Medicine is a noble profession, but while I’m in favor of doctors earning a large income, it’s beneath their dignity to pay obsessive attention to it. This might not be a majority opinion. Doctors regularly claim that they are businessmen operating in a free market. As such, it’s reasonable to charge for every service. Sensible patients understand, they insist.