Dr. Cameron Schaeffer, a pediatric urologist in Lexington, recently penned a great exposé on the harmful effects of Obamacare on those who most need our help:
Obamacare undermines nearly every fundamental of wealth and job creation. Five years into this recession, the economy is still down 3 million jobs; some economists are blaming the feared costs and uncertainties of Obamacare, even before full implementation of the law.
The poor are always the first victims in an economic downturn. Because the law is prolonging and deepening the recession, it is prolonging and deepening their misery.
Obamacare is already sapping businesses of the working capital needed to create wealth and jobs. Medical device companies are now paying a 2.3 percent tax on gross revenues. For Cook Medical Group, this tax represents 15 percent of profits, causing the company to shelve plans for five new manufacturing plants and 1,500 jobs.
Obamacare is creating monopolies, undermining price competition. Hospitals are merging and doctors are selling out to hospitals. According to Accenture, physician ownership of medical practices is now down to one in three. Medicare pays hospital-employed doctors more money for the same work. Studies show that employed doctors see fewer patients than entrepreneurial doctors. All roads are leading to less competition, higher costs and decreased patient access.
Obamacare redefines insurance by abolishing lifetime caps and community rating. It allows patients to sign up after they get sick, like buying auto insurance after a wreck. It also redefines childhood. Picture dragging your 26-year-old from the basement to the pediatrician. Despite assurances that the law would lower costs, health insurance rates have jumped in the last three years.
Gov. Steve Beshear, who will announce another development in his love affair with Obamacare on Thursday, should take time to read something of substance on this issue.