Health Care

I read an article stating that the USA rates behind 5 other industrialized nations. The report was done by the Business Roundtable. The Business Roundtable represents CEOs of major companies. According to the report, Americans spend $1,928 per capita in 2006, about 2.5 times more then other industrialized nations. The report then goes on to say that even though we're spending so much more for our healthcare, we're not any healthier then the other nations. In fact we're less healthy!

Now I agree that health care is too expensive, but the one thing that this report didn't mention is that the U.S. leads the world in healthcare innovation. One thing about innovation is that it is VERY expensive. According to the Economic Report of the President:2004, since 1975 more Americans have won the Nobel Prize in medicine then all other countries combined. It also goes on to say that through 1993, 79% of the "biotech" drugs "used for nondiagnostic purposes" came from the USA. Then through 2002, 80% of the worlds top-selling drugs were produced by companies in the U.S.

The second problem I have with our healthcare system are the lawyers and politicians. I've heard some physicians say that as much as 70% of their costs are related to the bureaucratic and legal hoops that they have to jump through. The amount of insurance they have to cary because of frivolous lawsuits is staggering. Over the years, as the politicians have become increasingly involved with healthcare, the quality has gone down and the expense has gone up. Do we really want them to nationalize our healthcare system?

*Stats courtesy of U.S. News, Business Roundtable, Economic Report of the President:2004