Opinion: When President Obama hawks the wonders of the misnamed Patient Protection and Affordable Care Act, I’m reminded of those “As Seen on TV” products.
True believers ridiculed critics of the Independent Payment Advisory Board and its unchecked power to ration health care. They were impressed by the $575 billion cut to Medicare, although lower payments lead physicians to accept fewer Medicare patients. They cheered because 11 million Americans will be added to the Medicaid rolls over the next ten years. While Medicaid looks like is a good deal with its low co-pays, provider payments are so low that only one-third of physicians accept new Medicaid patients.
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