Taiwan’s system allows for savings in part due to the increased purchasing power of a national risk pool. “As a single payer, Taiwan’s NHI is able to exercise its [sole purchasing] power to manage its health expenditure growth,” concludes a November study published in Social Science and Medicine that examined the costs of single-payer and multi-payer systems.
Savings also come from a decrease in administrative waste. According to a paper written by Raymond Kuo of the National Taiwan University and others in the London Journal of Primary Care, “Owing to the single insurer system, Taiwan’s NHI has one of the lowest administrative costs in the world, typically under 2 percent of total healthcare spending.” In the US, it is estimated that a third of US health dollars are spent on paperwork, and the Commonwealth Fund reports that 25 percent of hospital costs go toward administrative expenses, the highest of all countries studied.
https://singlepayerhealthcarenow.com/2018/01/14/lesson-taiwan-single-payer/
I lived in four European countries on the economy in each one. All of them had one or another form of single-payer insurance. I loved it, and I had, while living there, two cesareans that were complicated. Single-payer is the way to go.
On a list of OECD nations, we are 26th out of 34 when it comes to life expectancy.
https://en.wikipedia.org/wiki/List_of_sovereign_states_by_life_expectancy
We can do better.
A better healthcare system is one of the keys to longer lives for all of us.
Doctors should be able to focus on patient care and not on collecting bills and worrying about whether their patients can pay their bills. Single-payer means doctors are more certain to be paid and patients can be healthier because they get life-long care even when maybe they don't have jobs or their lives are in turmoil.
And everyone else gets healthcare that we all deserve.
Really. We should have done this 40 years ago.
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