From The Atlantic:
"Suddenly, the public auction is the Charles de Gaulle of the healthcare debate: resurgent, victorious, beloved by all. I'm not sure I get it. The only way the public option saves money is by using fiat to slash reimbursement rates to some variation on Medicare reimbursements: Medicare +5%, +10%, or whatever rate they finally settle on. Otherwise, it's unlikely that the thing will even compete on an even basis with private insurers, who have a lot more experience managing billing, claims experience, and negotiations with providers."
Read it all here.