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What is the survival rate in India after that procedure, comparing to the US? My colleague _visited_ India and returned with a stomach flu, spent a week in a hospital.
I found it fascinating how this goes way beyond wage differences -- it's a serious focus on fiscal efficiency. The entrepreneur behind this has opened 21 new hospitals in India focused on bringing more affordable care: "...he has cut the price of artery-clearing coronary bypass surgery to 95,000 rupees ($1,583), half of what it was 20 years ago, and wants to get the price down to $800 within a decade." This leaves me…
What incentive is there in the USA to reduce healthcare costs? The system is totally corrupt.
That's what competition in a free market is, no?
The first supposed fact thrown around in the medical costs argument like this is, "Well in India their cost of living is lower, so they charge considerably less, yadda yadda..." but it's obvious the price difference goes way beyond any cost of living gap. That's over $100,000 in price difference, while it is true the cost of living (salary, prices of every day items) in India is considerably less than that of the US,…
In general?
http://blogs.worldbank.org/developmenttalk/shocking-facts-ab...
> It’s also pretty staggering that hiring qualified staff doesn’t appear to increase this probability. Das and colleagues suggest that part of the issue might be the variation in the quality of instruction in Indian medical training institutions. So there may be some institutions from which a qualification does make a difference. But given the paper’s results, the effect of such institutions must be rather small. The fact that providers working in better equipped facilities don’t have a higher probability of prescribing the right treatment is also alarming.
Obviously, heart surgery isn't rocket science, and our medical training is a bit overpriced, but is it so easy to compare two disjoint systems?
The first supposed fact thrown around in the medical costs argument like this is, "Well in India their cost of living is lower, so they charge considerably less, yadda yadda..." but it's obvious the price difference goes way beyond any cost of living gap. That's over $100,000 in price difference, while it is true the cost of living (salary, prices of every day items) in India is considerably less than that of the US,…
In reality I think many healthcare entrepreneurs either get caught in the existing framework (and dependent on it), or find the regulatory and other hurdles too hard here.
That said, I still think there is a LOT of room to improve cost efficiency here, and the right entrepreneur could do it. It's been done in other stagnant segments of the economy... I would like to see an Elon Musk-type entrepreneur open efficient hospitals here like this guy is doing in India.
Earlier quoted context omitted.
What incentive is there in the USA to reduce healthcare costs? The system is totally corrupt.
I don't know much about the American healthcare system, but wouldn't it be the same incentive when selling any product? If you sell the same quality product for cheaper, you will get more business than your competitors. That's what competition in a free market is, no?
What is the survival rate in India after that procedure, comparing to the US? My colleague _visited_ India and returned with a stomach flu, spent a week in a hospital.
[1] http://www.theaustralian.com.au/archive/business-old/the-hen...
What is the survival rate in India after that procedure, comparing to the US? My colleague _visited_ India and returned with a stomach flu, spent a week in a hospital.
I'm Australian, visited the US and got severe Salmonella poisoning in Vegas... the US must have really shocking road safety laws.