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To: yard_man who wrote (86038)	3/27/2001 10:04:25 AM
From: Don Lloyd	Read Replies (3) \| Respond to of 436258

tippet - ...``This has raised significant questions as to whether our current measures of overall medical service price inflation are capturing the appropriate degree of productivity advance evident in medicine,'' Greenspan said. With health care insurance premiums rising at a double digit annual rate for ever more restricted coverage and higher HMO copays, there is indeed a question of "appropriate" measurements. Of course with socialized medicine, most of the cost is paperwork so the falling cost of computers must affect the productivity. My experience with the HMO computers is they save costs by losing 5% of the appointments every three months. Efficiency in medicine is having the patient die after his insurance premium check clears and before he wastes any resources on a useless treatment. Regards, Don

To: yard_man who wrote (86038)	3/27/2001 10:20:40 AM
From: pater tenebrarum	Read Replies (4) \| Respond to of 436258

geez...they never stop, do they? in reality the dollar has lost 97% of its purchasing power since the Fed was created in 1913.

To: yard_man who wrote (86038)	3/27/2001 10:40:09 AM
From: LLCF	Read Replies (2) \| Respond to of 436258

<Greenspan used the medical industry as an example of one in which current measures seem inadequate. He said applying price measures to new treatment methods that require shorter or no hospital stays indicated prices for medical services have been falling since the mid-1980s.> HO HO HO.... wise move by Greenjeans, the increase in value of these products is subjective and endless... the holy grail of hedonics as it were. "The cure for cancer" or "The cure for inflation"?? LOL, now we'll finally see an increase weighting for healthcare in the CPI no doubt! DAK

To: yard_man who wrote (86038)	3/27/2001 2:03:47 PM
From: Skeeter Bug	Respond to of 436258

tipster, re greenspan's latest "productivity" foray: the guy is an "intellectual idiot." he's so smart he can't understand common sense. if someone is in the hospital for a shorter period of time then they are able to generate more revenue by working more. if they don't then there has been no increase in productivity. if the hospitals take less time to treat a single patient then they can 1. treat more patients or 2. treat the same patients with less staff and resources freeing up staff and resources to generate revenues elsewhere. how f* simple is that? gdp s/b an economic (monetary measure). it is turning into psychological mumbo jumbo that the pinheads can manipulate at a moments notice. eg, "we think you value this at 1.2x now... change gdp guys..."