Editorial: Program will take hard look at HMOs

Billionaire financier George Soros last week announced he will donate $15 million to create a foundation that will look for ways to de-emphasize profit-making in medical care. The New York Times reports that the program will also encourage consumer organizations to work with physicians to better monitor the quality of care.

Soros has made billions through his steadfast belief in capitalism, but last week the noted philanthropist displayed again his acute understanding that the market can't remedy every ill, and sometimes may even be detrimental. "Health care companies are not in business to save lives; they provide health care to make profits," Soros said.

Soros' plan certainly will be welcomed by the patients who must deal with health care companies that minimize medical care so they can maximize profits.

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