In the market, buyers and sellers trade commodities with each other. The range of items sold from time to time varies greatly. Furthermore, the advancement of technology removes the border of physical trading and begins the digital market. As an example, Bitcoin is a virtual currency that exists only by machines. But Bitcoin has enough values to be used as money.
The most significant market is where the buyer has nothing holding him back to choose whatever item he wants. This market is known as the free market in economics terms, but the criteria to include a trade-in in this category differs from experts to experts. Hence, every nation claims that its market has the most liberty and opportunity for investors.
Yet, there is one kind of market where the buyer can’t choose from whom a buyer will purchase the item. This type of trade occurs in the healthcare industry, and the opportunity for this market continues to grow in the USA. This uniqueness opens doors to distinctive ‘maneuver’ for the investors to gain profit in this market.
“America's health care system is neither healthy, caring, nor a system.”
— Walter Cronkite
US Healthcare Is Intricate and Expensive
It is no secret that the American healthcare system is the most expensive in the world. The main characteristic that differs from other nations is how much power private insurers have over their industry. Without health insurance, the costs of going to the hospital are borderline impossible to pay for an average individual.
Yes, most people received discounts by having insurance. In this nation, employers usually accommodate healthcare for their workers. And the government takes care of the health problems for poor people. It seems that almost everybody gets covered in some way or another, and this statement is true to some extends. But some people are doomed in this system.
Individuals who receive enough wages not to be called unlucky but are working for employers without insurance guarantees have the most risk. One fractured bone is all it takes for this kind of person to have unpayable debts for the next five years. Moreover, there is little to no insurance that provides service on the get-go instead of monthly bills.
Expensive Must Be Effective, Right?
More costs mean more luxury that comes within. So, it is acceptable to expect a fantastic result for such expensive healthcare. But The Kaiser Family Foundation reported that the US has higher rates of hospital admission for the preventable condition. Plus, the medical mistake made by medical workers is relatively high when compared with other countries.
Additionally, the US also has more treatment per capita than in most countries. This feedback means that more medical tests in this nation are unnecessary than the average nations. Yet, Germany still holds more tests per person than the USA. But Germany’s healthcare system is considered more accessible and better than in America.
At least, the US's over examinations lead to a positive boon for patients suffering from deadly diseases. Cancers, health problems, and other bedridden sickness are found much earlier in the USA than in other nations' medical care. Still, the financial budget for people agreeing to take these kinds of tests is higher than in other countries.
What This System Can Study From Its Brothers
Its neighbor, Canada, has a system where every layer of society could get covered by healthcare to some degree. Individuals pay taxes that is returned equally as universal healthcare for the people. Furthermore, the government owns all the medical services. Therefore, there is little to no room for investors to ripe profit from the misery of others.
France doesn’t have public or government-owned hospitals, but it has a comparable healthcare system to Canada. The insurers in France are a nonprofit organization to provide people with the liberty to choose their trusted institutions. But the insurers are affordable for the people, and it isn’t considered as a lucrative business and more of a pro-bono organization.
The UK also thrives by utilizing both systems. This nation has a rudimentary healthcare system funded by taxes for most people, but there is plenty of rooms for wealthier people to look comfortable for the healthcare they received. Most hospitals are public property, but a more luxurious medical institution is also available for the choosing.
People Still Need This Weird Complex System
No matter how expensive healthcare is, everyone will need it at some point. As usual, economists debate the policies necessary to make a nation’s healthcare system to be better. But these arguments rarely provide a solution for the decision-maker. But, it is better than having no tool to advance in a matter as crucial as health.
“Our health care system squanders money because it is designed to react to emergencies. Homeless shelters, hospital emergency rooms, jails, prisons - these are expensive and ineffective ways to intervene and there are people who clearly profit from this cycle of continued suffering.”
— Pete Earley
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