If “everyone in the pool is” (getting so rich) I suggest heavily loading your stock portfolio in these companies to hedge your future healthcare and retirement fund.

In essence, I agree with your thesis (I think) — i.e., that the U.S. healthcare system is an embararrasment, and needs to be reengineered. That being said, though, a couple of points:

1. Someone pointed out Canada’s healthcare system. I’ve lived in both Canada and the UK, and although I personally admire their healthcare systems, there are many residents of those countries who don’t. For example, a Canadian’s non-critical healthcare is taken care of well, but debilitating health conditions not so well. I have a friend with extreme case of acute arthritis, and an MRI could not be scheduled for him until 4 months out. He wound up driving to Buffalo and paying for an MRI out-of-pocket.
2. You can’t necessarily correlate a relative country healthcare index to life expectancy rates. While the U.S. life expectancy is indeed significantly lower than many other developed countries, the U.S. also has much higher murder, suicide, and accidental death rates.
3. Malpractice lawsuits have to be a major contributor to our high healthcare costs, if not problemo numero uno. Cap ‘em!
4. And this is perhaps the toughest issue — what should govenment do, vs. what should private enterprise do? — i.e., what is a “human right” (or humane right)? Is decent healthcare a right that should be afforded to all? How about a decent education? A safe neighborhood? Or the right to retire in dignity if you’ve worked hard all your life, but your bank and your insurance company squandered almost all your 401K/IRA retirement funds on speculative mortgage-backed financial instruments?

I actually am one of those that believes that a decent standard of healthcare is a human (humane) right. But where does it stop? Should a person have the right to be treated in an emergency room if they’re critical (yes)? Should they have the right to surgery for a broken leg (yes)? Should they have a right to an antibiotic if they’re infected? Should they have the right to healthy, non-toxic, non-processed foods (can you get fresh, organic produce in inner-city ghettos)? It’s always been a pet peeve of mine when private enterprises (beholden to shareholders and profit), and not governments, control a resource that we all need in order to survive — in this case food, and in many cases (and more in the future), water. And in many of these cases, the companies that do control these resources are not even “public” private enterprises — they’re “private” private enterprises (i.e., not publicly traded), so they’re not even beholden to the public.
5. Insurance companies are another — should they be publicly traded entities, sacrificing all to the god of profit every quarter/year? When they’re insured everyone who can afford their rates, what can they do to continue to increase profits? A: Cut costs, i.e., deny benefits. Free-market capitalism is not always all it’s cracked up to be.

Great discussion. I particularly agree with your comments on tort reform; this is something that could be implemented now without the emotionally charged debate on health care solutions and yet start to create big impacts right away. One other comment, though, which is not so encouraging. In many of those countries with existing universal coverage — such as Canada, the UK, Sweden, universal coverage is typically utilitized by those with minor day-to-day type issues, a cold, sore throat, etc., and those who can’t afford to go outside the system. Those with the means to do so, opt to utilize private medical care when there is anything serious or significant to be treated, sometimes even travelling to the U.S. for such treatments. “Universal” still does not mean “the same for all,” no matter how it is described. It becomes a system for those who have no other choice and, while there is some level of care, there is a reason why those who can afford better, opt to do so. Sorry, no solutions here, just another wrinkle to add to the complicated problem.

The only thing I’d disagree with is that lawyers and insurers are the only ones getting rich. Everyone in the pool is. The phara/biotech industry, medical equipment, doctors (compared to other countries, our doctors are entitled), even the charities like the American Cancer Society or government like the NIH. The money they spend is staggering and the results they get are criminal.

There is only one solution and that is to blow it up and start over with a universal system like Canada, UK or France.

-NR

Hey, ex-pats = ex-patriots, right? 8^)

Thanks for the heads up.

I’m not sure if that one is as embarrassing as typing ‘compromise’ when my brain was thinking and seeing ‘comprise’. I finally caught that one a couple of hours after posting.

No excuses other than being in a hurry and my copy editor being sick today. I’m not going to bug her to proof this thing. She’s armed with a variety of blunt objects next to her tissue box.

Doug

-NR