Sunday, November 6, 2011
Why do LASIK surgery costs keep going down?
I'm getting LASIK eye surgery tomorrow, and while researching the procedure I ran across some interesting data. The cost of LASIK has decreased ~70% since its inception, despite significant technological breakthroughs that make it more effective and less risky. Meanwhile general health care costs have increased at an annual rate double, or more than double, the rate of inflation for the last two decades. The only difference that I can see is that LASIK is not covered by insurance plans, and hence the doctors who perform it must compete for business. And compete they do! I hear advertisements daily from at least a half dozen providers in my town of 150,000. My initial appointment was free, they saw me right at my appointment time, and quickly and efficiently diagnosed what procedure was best for me. They offer full financing, although with the PayFlex plan I have through work I can defer the cost of the procedure over the entire year tax free! My primary care physician, meanwhile, kept my wife waiting over 45 minutes the other day despite her being the only patient at the office. With the health care debate raging, is there anything we can learn from the LASIK people?
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