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The US spends more on healthcare for no gain says new report from Johns Hopkins

jhsph.edu

441–450 of 537 posts

Re: The US spends more on healthcare for no gain says new report from Johns Hopkins

#441

Earlier quoted context omitted.

That’s not an unreasonable charge for an MRI and I’d argue that you got off quite lightly. You can’t diagnose many of the potential problems shoulders have from an x-ray but a good clinical examination will catch many of them, with an MRI for confirmation. Labral tears would be an example of this.

No it's not an unreasonable charge. The amount I had to go through and the necessity of it was the question. I got charged with two things - XRay and MRI. One was enough, apparently... And I wasn't in any critical condition to an XRay immediately.

It's 2-3x more than you would pay in a regular civilized country... it speaks volumes about the US system that you think it's not an unreasonable fee.

Re: The US spends more on healthcare for no gain says new report from Johns Hopkins

#442
post #81

The book The Healing of America by T.R. Reid, 2010 was a phenomenal look at this subject and the conclusion was this: we are the only developed nation whose government allows for-profit health insurance companies to exist with ZERO regulation to cap healthcare prices. Because of this, we spend 20% of every dollar on "administrative" costs compared to 3%-7% in the European and Asian countries. The goal for American he…

American healthcare is nowhere close to a "free market". Have you noticed how there are next to no startups disrupting the health industry? Why can't you sign up for insurance like you can sign up for a stock account on RobinHood? There's no free market. Government licensing and regulations have created huge barriers to entry. I thought this would be more understood by those technically/entrepreneurially minded. When…

I would also add that the parent post is internally inconsistent.

>> The goal for American healthcare companies is increasing shareholder value, not reducing costs

Reducing costs increases shareholder value. The shareholders don't benefit from these inflated administrative costs. This is money that could be converted to profit and distributed to shareholders.

This suggests something else is going on

Re: The US spends more on healthcare for no gain says new report from Johns Hopkins

#443

Earlier quoted context omitted.

I haven’t come across a single doctor in Germany who didn’t have at least one office assistant to handle incoming patients, schedule appointments and do the bookkeeping. Most doctors seem to have more though these days as the administrative burden has increased. There’s also a trend for doctors to share office space and have a joint office and reception (also to reduce cost).

That makes sense. But many U.S. medical offices have people devoted entirely to billing insurance companies and fighting with them over what will be covered.

Exactly, plus all the people at the insurance company that are paid to try to find ways to NOT cover it or to pay at a lower billing code.

Re: The US spends more on healthcare for no gain says new report from Johns Hopkins

#444

Earlier quoted context omitted.

American healthcare is nowhere close to a "free market". Have you noticed how there are next to no startups disrupting the health industry? Why can't you sign up for insurance like you can sign up for a stock account on RobinHood? There's no free market. Government licensing and regulations have created huge barriers to entry. I thought this would be more understood by those technically/entrepreneurially minded. When…

We know that there is an efficient model for delivering healthcare, which is a government provided/heavily-regulated healthcare market. We know this because dozens of industrialized nations successfully operate in this model, with dramatically lower costs than we have here in the US. An existence proof is usually the simplest kind of proof. Some people talk about a hypothetical second workable model, which involves a…

The US already spends a large percentage of GDP on public health care (medicare and medicaid). It's just that it spends much more in private on top of that.

I quickly found some numbers from 2008. All numbers are a percentage of GDP:

US: 7.4% public, 8.5% private

Switzerland: 6.3% public, 4.4% private

Sweden: 7.7% public, 1.7% private

France: 8.7% public, 2.5% private

graphic:

https://kaiserfamilyfoundation.files.wordpress.com/2011/04/h...

kff study:

https://www.kff.org/health-costs/issue-brief/snapshots-healt...

Re: The US spends more on healthcare for no gain says new report from Johns Hopkins

#445
post #240
post #129

Earlier quoted context omitted.

The "freeloading" meme is the creation of public relations groups employed by the pharma industry. Drugs in the US are priced at the profit-maximizing price. That profit-maximizing price has nothing to do with how much pharma earns in other countries. And it has absolutely nothing to do with the cost of R&D. R&D is a sunk cost, has no effect on drug pricing.

As someone who works in the industry, you are somewhat correct. Once a drug is approved, it is priced independently of the R&D cost. However, the decision to bring a drug through clinical trials (the "D" in "R&D") is gated. The potential price of the drug is estimated and the financial costs and potential return are calculated. If the return isn't that great because you can't get the volume or price, the R&D investme…

There's sticker price and there's what buyers with the ability to negotiate pays. I hear the government healthcare suppliers (Medicare, Medicaid and VA) aren't allowed to ask for lower prices for bulk despite being some of the world's largest customers, each.

Re: The US spends more on healthcare for no gain says new report from Johns Hopkins

#446

Earlier quoted context omitted.

> pay as little as 110 yen ($1) out of pocket for specialist appointments In the UK we pay nothing. I think this article is biased by American thinking.

Not strictly true - we do pay a nominal fee for prescription drugs and NHS dentists (although some classes of people, eg students and retired people, are exempt).

No prescription fees here in Scotland!

Re: The US spends more on healthcare for no gain says new report from Johns Hopkins

#447
post #321

Earlier quoted context omitted.

> universal needs Not everyone agrees Person A's needs should be paid for by other people. The system described (that pays for everyone, but treats people that can afford it better) may be a reasonable compromise to those people.

Yet everyone uses the roads, schools, and safety paid for by everyone to ultimately get to their advantaged economic position. Healthcare is a public effort just like any of the above, and no one should suffer unequally due to class favoritism being built into public efforts. We shouldn't compromise with people who lack the humanity to see this.

To be clear, I'm in favor of everyone having healthcare. To some extent, I'm playing the devil's advocate here. Also to some extent, I think getting from where the US is to everyone having healthcare is a very difficult trip to make. That being said...

- There is no way to support roads without everyone supporting them for everyone. It's not possible to pay for "just the roads I use". - Educating the next generation helps everyone. - Keeping someone else healthy does not help me in any real way (I disagree with this, but it is a viewpoint that can be had).

Re: The US spends more on healthcare for no gain says new report from Johns Hopkins

#449

Earlier quoted context omitted.

Note that Bevan isn't saying that UK society is socialist (although he was probably in favour of it) - rather than the spirit of the NHS is socialist. Note that I would agree that it seems "common sense" for us in the UK and I'm definitely not keen on basing arguments on ideologies but it clearly doesn't seem "common sense" for people in the US.

And yet, in the U.S. we have a system like the NHS for veterans, plus a system like Canada's for everybody over 65.

Yes, I believe the US government spends more per capita on government provided healthcare than the UK does - even though the end results are only available to a subset of the population.

Doesn't that annoy people?

Re: The US spends more on healthcare for no gain says new report from Johns Hopkins

#450

It's worth noting that the U.S. market does pay for the lion's share of patented drugs, effectively funding a significant portion of R&D that benefits the whole world years later when generics come into market (at least for those drugs which are not costly to manufacture, which happen to be the majority). I'm not saying this model is right. I'm just saying that doing away with it will have fundamental consequences to…

US GDP is ~19 Trillion. If US Health care spending is 18% of GDP, that's about 3.5 Trillion annually. Pfizer's (largest drug co) net income in 2017 was ~21 Billion [0], less than one percent of health care spending. I didn't tally the rest of the industry up, but I'd be surprised if it hit 10% of total costs. [0] https://en.wikipedia.org/wiki/Pfizer

Why are you looking at net income? Revenue is the relevant number, which was $52.55B in 2017.
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