In some small way I agree with you. That would be a fun practice. In a very large way, I just want to say good luck getting a job in Portland (or Denver, or Salt Lake or anywhere else it's tough to get a job as an EP) if all the EPs do there is take care of level 1s and 2s. There would be one ED staffed by 6 docs.
In fact, good luck getting into an EM residency, since we'd only need 1/10th of them. Plus the job would be so great (and pay so well with all those procedures and critical care codes) that it would be more competitive than derm.
Think it through. It just doesn't work. EM will always be what it is, with or without EMTALA. Our for-profit hospital is begging us to MSO people, but there just aren't that many without insurance that don't have an emergency. 5% maybe. Even if you add in the insured patients I can determine don't have an emergency after just an H&P we're only talking about 25% or so. If they need a STAT test to determine if they have an emergency or not, they have an emergent reason to come in. Heck, if they need an exam to determine they don't have an emergency they had a valid reason to come in.
You can't say that Susie with the belly pain doesn't have an emergency after doing a pelvic, an HCG, and a CT. It just doesn't work that way. You have to be willing to say she doesn't have an emergency BEFORE seeing her. It turns out that's really hard and really risky to do.
The level 3s and 4s keep the doors open and the equipment paid for so we can care for the 1s and 2s. That's just the way it is. The intensivists and hospitalists complain about similar stuff. "Why do I have to babysit all these overdoses on ventilators and telling families to let grandpa go? I should be saving septic 30 year olds!" But if all they had to take care of were septic 30 year olds there would only be one 6 bed ICU and 3 intensivists in town.
Sure, having one 6 bed ED and one 6 bed ICU in town would save a lot of money, but so would just shooting everyone when they turn 65.