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According to the landmark 2013 study by Gerald Friedman, professor of economics at the University of Massachusetts, it will save about $592 billion a year ($476 billion by eliminating profits and administrative waste of the insurance industry and another $116 billion by negotiating prices of prescription drugs down to European levels).
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We could use the state's Medicaid funds to create a network of public health clinics, hospitals and nursing homes that employ "salaried" doctors, nurses and other health workers, eliminating profit margins and reducing pressure on private providers to engage in fraud.
Five years of vicious price wars have all but eliminated profit margins and crippled the country's entire TV-making industry the world's largest in numbers of sets built.
Massachusetts Senator Elizabeth Warren, speaking this past Saturday at Suffolk University Law School's research symposium on student loans, demanded that the government eliminate profit from the federal student loan program.
By eliminating the profits built into private health insurance companies, we could save even more money.
By eliminating the profit margin and cost of marketing, we can reduce the cost of health insurance, and thus health care, dramatically.
For example, LAMal forbids health insurers from earning profits on their sales of social health insurance.We look forward to Messrs Holtz-Eakin and Roy's next article calling for eliminating the profit incentive in the health-insurance industry.You can make this story as long as you want to.
Related's reasoning: Construction costs have rocketed since it presold the units, eliminating its profit.
Making the federal government the "single payer" of claims, thereby eliminating the profit motive in insurance, would allow us to control healthcare costs and devote more money to actually improving care.
There are two ways this anomaly can be eliminated: higher profits or lower share prices.
The move is designed to eliminate windfall profits for electricity generators.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com