Sunday, July 8, 2012

Capitalism Goes Bananas

Having lived in about a dozen countries, I have never experienced such deep disgust as when dealing with the US medical system. And it's not because of the doctors. Many of them are victims of the money-making machine, just as their patients are. Some numbers:

  • The cost of medical care in the US rose 60% in the last 12 years. After taking inflation into consideration, for the same procedure you will be charged over 20 times more than you wold 30 years ago.
  • In the US, a valve replacement operation, costs in $160,000, in Singapore it's $15,000.
  • Over 60% of all personal bankruptcies in the US, result from medical bills. The number in western Europe is close to zero.

When patients become clients, and hospitals are owned by private equity firms, your wallet is the only thing your health provider sees or cares about. What a strange belief it is that by focusing on maximizing financial gain, you will improve those things you don't focus on. Obamacare does not address this problem. It's not a reform that the US health system needs. What it really needs is a death warrant, then a rebirth.

1 comment:

John M said...

So true.
I want to put the cartoon on my blog.
Have a good weekend.