Episode 003 The US spends twice as much on Medical Care. Are we healthier?
Sep 26, 2022Episode 003
In the U.S., we spend almost $4 trillion a year on medical care, double the average of what other wealthy countries pay. Are we healthier for it?
Why Is U.S. Healthcare So Expensive Compared to Other Countries?
The U.S. healthcare system is largely private and for-profit, but competition is nonetheless limited by government regulation and high licensing fees.
Check out how much MORE we pay for medication and services!
Where Does the U.S. Rank in Healthcare?
Among high-income countries, the U.S. ranks at the bottom in terms of cost compared to positive outcomes. We pay the MOST for the WORST treatment.
Healthcare Spending Increased, Did Our Life Expectancy?
We paid significantly more than other countries, yet we died at younger ages. During COVID, our health care costs spiked, yet our life expectancy dropped.
The Bottom Line
Whether it is the consolidation of hospitals and other health services or anti-competitive pricing behavior, healthcare costs in the U.S. are rising at a rate that far surpasses wage inflation.
But healthcare costs in the U.S. remain opaque, confusing, and relatively high. As Tom Sackville sums up nicely, “There is no reason why identical procedures and products should vary in price so much across countries: it illustrates the damaging effects of an inadequately regulated healthcare market."
Does our "healthcare" system work? Is it keeping us healthy?
80% of dis-eases are due to epigenetics - our lifestyle. The choices we make everyday.
I invite you to Take Charge of Your Health!
Live in possibility!
Lisa Malia
"Live pono with your heart at peace."
Excerpts and graphs from https://www.investopedia.com/articles/personal-finance/072116/us-healthcare-costs-compared-other-countries.asp, https://www.healthsystemtracker.org/chart-collection/quality-u-s-healthcare-system-compare-countries/
