“Certain large sectors of the economy are suffering from something like reverse-innovation: Costs are increasing much faster than any incremental improvement in quality. In Gallup’s new report with the U.S. Council on Competitiveness, I argue this is happening in healthcare, housing and education,” Jonathan Rothwell writes for Gallup.
“Take healthcare. From 1980 to 2015, healthcare expanded from 9% of the national GDP to 18%. Some of this is natural and good. The aging population requires more healthcare, and even modest economic growth has freed up spending power for healthcare. The problem is that the per-unit costs of healthcare — actual procedures, visits with doctors, pharmaceuticals — have all soared. So the question must be asked: Has it been worth it? I conclude not.”
“One reason for the decline in Americans’ self-reported health status is the extraordinary inefficiency of the U.S. healthcare system.”Save to Favorites