A new book coauthored by two economists explains the economics of legalized marijuana are not very lucrative. The regulations for selling legal weed are so onerous that illegal marijuana sells for half the price of the highly regulated legal product when competing for the same customers. In fact, the regulatory maze is such that in most states where cannabis is legal aspiring distributors hire consultants to assist with the application process. Indeed, the people in the cannabis industry making the most (legal) money are the consultants and lobbyists.
Danilo Manimtim and his wife Marilou both had cataract surgery in Fresno, California in late 2021 and early 2022, respectively. Manimtim, a retired orthopedic surgeon, calculated that since he had met his deductible, his cost-sharing would amount to about $750. He sought care at an outpatient department of a local hospital. As I’ve often said, if you are physically capable of walking, never, ever seek any kind of care at a hospital. Manimtim failed to realize that his health plan, the California Public Employees’ Retirement System (CalPERS) health plan, uses an innovative system known as reference pricing. Anthem Blue Cross managed the plan for CalPERS.
A survey found that nearly 90% of doctors believe barriers erected by health insurance plans have negatively impacted patient care. The survey also found that doctors are so fed up that two-thirds would not recommend a career in medicine while nearly half (48%) are considering leaving medicine for another career. The survey was 600 physicians with practices in primary care.