Adrian Crane: Even insurance companies are in on the profit grab

There are four parties involved in healthcare: Doctors, patients, providers (hospitals, drug companies, etc.) and insurance companies.

The doctors and nurses want good pay. The providers want good profits. The patients, since they have already paid their insurance premiums, want the best and most care they can get. You would think the insurance companies would then be the ones to watch the dollars and hold down costs. Sadly, no. Insurance companies long ago realized they would be allowed a “fair profit.” That “fair profit” will only grow if medical costs grow. So insurance companies also want to see medical costs rise.

Unfortunately, we have built ourselves a system where nobody is watching the hen house.

This story was originally published February 5, 2018 at 2:51 PM with the headline "Adrian Crane: Even insurance companies are in on the profit grab."