Healthcare is growing now at about 10 per cent per annum in the U.S. top line, versus 3 per cent for the economy. As someone with a sharp pencil and an eye for this kind of thing, this can't last.
Sentiment: NEGATIVE
In economic terms, health care is a highly successful industry - profitable, growing, and virtually recession-proof - but it's a massive burden on the rest of the economy.
Healthcare has been the last major industry that hasn't been touched by technology in terms of productivity and consumer adoption in the way so many other industries have.
In the future, it's going to become more and more impossible for the economy to support how expensive medical care is and the number of sick people we have. Why don't we just get our population healthier so we don't need medical care?
The U.S. has the most dysfunctional healthcare system in the industrial world, has about twice the per capita costs, and some of the worst outcomes. It's also the only privatized system.
Health care in America, despite all you hear, still offers us citizens one of the most efficient and highest quality systems in the world. But it's expensive, and it's only getting worse.
The way health care is funded in the U.S. is not sustainable. People are being kept alive who are probably better off dead. The cost of health care is too high, and you don't get much for it - it's twice as high in the U.S. as elsewhere, and it's because of the middlemen.
What we're really trying to do is level out the health care system. It has gotten so one-sided as more and more people have been put into managed care; in fact, about 70 percent of the patients in the country.
Every country in the world is battling the rising cost of health care. No community anywhere has demonstrably lowered its health-care costs (not just slowed their rate of increase) by improving medical services. They've lowered costs only by cutting or rationing them.
There's not enough competition and innovation in healthcare.
Health care is one-sixth of our economy. If the government can control that, they can control just about everything. We need to understand what is going on, because there are much more economic models that can be used to give us good health care than what we have now.
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