Tag Archives: oldest

Quote of the Day: No Dessert For You!

Mother Jones

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From Tyler Cowen:

I would be happy enough if all desserts were simply dark chocolate ice cream or gelato, consumed rapidly and perhaps at a different venue altogether.

Well, that would certainly put a crimp in the dessert business, wouldn’t it? It would actually work out OK for me, but I have a feeling the rest of the world might get bored pretty quickly by an endless series of meals that finish off with dark chocolate gelato.

Anyway, it turns out that restaurant owners are on Cowen’s side. Desserts don’t bring in much money, but they do cause diners to linger around their tables. “You have to turn the tables,” says one restaurant owner, and desserts just get in the way of that. Very sad.

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Quote of the Day: No Dessert For You!

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The Annual Medicare Doc Fix: Not as Bad as You Think!

Mother Jones

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Here’s a bit of contrarianism for you today: Austin Frakt says that the much-maligned Medicare “doc fix” actually works pretty well. This is Congress’s annual charade in which it overrides the formula for Medicare reimbursements to doctors, resulting in doctors getting paid more—but without ever changing the formula itself. (Why? Because changing the formula would cost money, and they’d have to figure out how to pay for it. Better to just kick the can down the road each year.)

So from one point of view, the formula is just a joke. However:

From another point of view, the formula — as flawed as it is — has helped keep Medicare spending lower than it might otherwise have been. Instead of cutting physician payments by the large amount the S.G.R. demands, Congress has increased payment rates, but typically by only tiny amounts — at an annual rate of just 0.7 percent. That pace does not keep up with the typical cost of care.

The gap can be seen in the chart below. The bottom line illustrates how Congress has permitted Medicare physician payments to grow. The middle line shows an index of medical spending — spending at a typical physician’s practice over time — that is a proxy for the change in price for a typical, or average, medical treatment.

….The relatively gentle increases in Medicare payment rates makes clear that the formula is not the problem. I think that the formula has actually helped Congress be more fiscally responsible than it otherwise might have been. To physicians who fear a double-digit decrease in payment rates called for by the formula, a 0.5 percent or a 1.5 percent increase that Congress passes looks like a great deal.

So there you go. Two cheers for the Sustainable Growth Formula!

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The Annual Medicare Doc Fix: Not as Bad as You Think!

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College Doesn’t Pay Off for Everyone

Mother Jones

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Why has college enrollment edged downward in recent years? After all, the college premium is still pretty handsome, which makes a university degree a pretty good investment. Dean Baker thinks the answer might lie in how the college premium is distributed:

Work by my colleague John Schmitt and Heather Boushey shows that a substantial proportion of college grads, especially male college grads, earn less than the average high school grad. They found that the lowest earning quintile of recent college grads (ages 25-34) earned less than the average high school grad. The implication is that many young people may be reasonably assessing their risks of not being a winner among college grads and therefore opting not to get additional education. To get more young people to attend college it is important that most can predictably benefit from the additional education, not just that the average pay of college grads rises.

I’m not sure I buy this. Schmitt and Boushey present the chart on the right, and sure enough, the lowest ten percent of college grads (red line) earn less than the average high school grad. But this has always been true. What’s more, it’s actually less true today than in the past. Among both men and women, even the lowest-achieving college grad is relatively better off now than in 1980.

Even if the bottom 10 percent are still worse off than an average high school grad, I’m not sure how a rising trend could lead to lower assessments of the value of college paying off. It seems like there must be more going on here than that.

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College Doesn’t Pay Off for Everyone

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Here’s a Great Argument for Easing Up on Professional Licensing Restrictions

Mother Jones

Adrianna McIntyre has a fascinating little tidbit up today about how Medicaid expansion affects access to health care. Here’s the question: By increasing demand for doctors, is it likely to result in longer wait times for everyone?

A trio of researchers took a look at dental care to get an idea. Some states cover it for adults, some don’t. So what happens in states where adult Medicaid is expanded to cover dental care? The first-order answer is surprising: more dentists participate; their incomes go up; and wait times barely budge. But how is that possible? The second-order answer is even more interesting:

Dentists accomplish this mainly by making greater use of hygienists: following the expansion of public coverage, dentists employ a greater number of hygienists and hygienists provide about 5 additional visits per week. As a result, dentists’ income increases following the adoption of Medicaid adult dental benefits by approximately 7 percent. These effects are largest among dentists who practice in poor areas where Medicaid coverage is most prevalent.

We also find that these coverage expansions cause wait times to increase modestly less than a day, on average. However, this effect varies significantly across states with different policies towards the provision of dental services by hygienists. The increased wait times are concentrated in states with relatively restrictive scope of practice laws. We find no significant increase in wait times in states that allow hygienists greater autonomy.

Licensing and “scope of authority” restrictions are sort of a hot topic these days, and this is a pretty good example of why. I haven’t yet dived into the whole thing enough to have a settled opinion, but it’s becoming fairly common to believe that licensing restrictions are far too strict in some professions, acting more as a way of propping up salaries than as genuine public safety measures. Nurses and hygienists could be given more autonomy, for example, but this is often resisted by doctors and dentists who don’t want to give up a lucrative monopoly on the services they provide.

The arguments are sometimes arcane, but this example brings it down to earth. Ease up on the restrictions placed on hygienists, and dental practices can provide more and better service to the poor—and, in the end, do it without sacrificing income. That’s worth knowing.

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Here’s a Great Argument for Easing Up on Professional Licensing Restrictions

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Steelhead Drive Is Gone, Along With So Many Lives Lived on It

Local authorities in Washington released the names of 19 of the dead who have been identified, the youngest 4 months old and the oldest 71. Original source:  Steelhead Drive Is Gone, Along With So Many Lives Lived on It ; ;Related ArticlesLandslide Death Toll Hits 27, with 22 MissingLandslide’s Debris Hampers a Search for RemainsNew Endurance Records Set as Snow Vanishes From Iditarod Trail ;

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Steelhead Drive Is Gone, Along With So Many Lives Lived on It

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