Simply put, the healthcare system in America is broken. It has been degrading for decades and we’ve done little to help the matter. Things like Obamacare and the slew of regulations that have been passed have done little to stop the train wreck that has become our healthcare system. The problem boils down to cost. Simply put, prices have been skyrocketing out of control and it is my belief that we can’t stop it from continuing. The only way costs could be controlled is by socializing the entire healthcare system. Something that would have dire consequences.
Creating one would not only collapse our system but it could potentially collapse the healthcare system around the world. The biggest issue surrounding healthcare is that nearly all of the economic power houses around the world have socialized their healthcare systems. An article by the Atlantic pointed out this issue. If you look at the map you will notice that the US is a diminishing position. One of the few remaining capitalist systems
So, the cause of the huge increase in cost in America has little do with America. As more nations have socialized their healthcare, America has stood alone as the one refuge to make a profit. The R&D needed to create a new medication or medical device is significant due to testing and regulation compliance. The US is one of the few places left that companies can run to in order to recoup these costs. So we pay ten, twenty, thirty or more times the amount other nations do for the same healthcare services. If the US socializes its healthcare system, the effects will be felt around the world. Healthcare innovation in the private sector will slow to a crawl and we will all be worse off for it.
So what is the solution? There isn’t one because America has zero control over this issue. The only way to control our costs would be to join the crowd and socialize our healthcare system as well. But, as mentioned above, that would make a bad situation even worse. Sure you could afford the care and meditations but no one would actually want it anymore.
There are great reforms in healthcare that could happen. Such as allowing insurance companies to sell in whatever state they choose to as long as they meet that states regulations. Or keeping the healthcare exchanges running but allowing people to turn down coverage if they don’t want it and allowing companies to turn down people for coverage if they can’t afford to cover them. Those who were refused coverage can go onto a new healthcare plan ran by the Government. If we provide subsidized healthcare coverage for the poor and elderly, why can’t be provide it for the sickest among us? This way you would shield private sector companies from skyrocketing costs due to the extremely sick who’ve had little choice or control in getting the disease their dealing with. You could also throw out many of the regulations that are suffocation healthcare companies from bringing new medications or devices to the market. Another is a looser pays law system. All court and lawyer fees would be covered by the party that looses the court case. This would prevent people from bringing frivolous lawsuits against companies. Helping the healthcare system by shielding it from defending itself against false and untrue lawsuits. You could also ban any healthcare companies from advertising in any form. The amount spent on advertising has to be significant and that money could be better spent. Another idea is full disclosure of prices. Who would buy something at the grocery store if you didn’t know the price? We are forced to do this all the time when it deals with healthcare. All of these ideas would lower the cost of healthcare in this country to some degree.
America is paying to subsidize the rest of the worlds healthcare. The problem is we can’t do anything about that and it is the greatest contributor to our rising costs. Although we can’t use this as an excuse to do nothing. We have to do the best we can to make sure that everyone in our nation is taken care of. It will not be an easy task, nor an affordable thing to do. This problem is going to get far worse before it ever gets better.