Skip to main content

Something America can't do- bring a European style healthcare system in interest of citizens

1. A false assumption (with big political support) that a system based on universal coverage is the same thing as a single payer system. It isn't. Germany is a great example of a healthcare system with universal coverage and multi-payer (many of which are private insurance companies). We tend to lump the two together (single-payer and universal health coverage) because it’s convenient to argue a simple comparison than a more complex, nuanced one.
2. A fear of "rationing" - which was set ablaze by Sarah Palin and her cavalier remarks about "death panels." The reality is that ALL healthcare (globally) is rationed - but systems from all the other industrialized countries start with “universal coverage”. Our system is largely based on who can afford to BUY health insurance - and if it's provided through employment (about 150 million Americans) you're chained to your employer for health benefits. It's artificial, but it's a great way to keep wages depressed because the employer is contributing to health benefits and getting a tax benefit at the same time. In other countries – employers make a contribution to the healthcare system – but those contributions accrue to the whole healthcare system – not just their employees.
3. An attitude and culture of what's loosely known as American Exceptional-ism. There is simply no other country on planet earth that can teach us anything. This was highlighted recently by Commonwealth Fund report which ranked the U.S. “dead last” in comparison to 10 other countries. Our entire raison d'ĂȘtre is to be the world's beacon of shining success - in freedom, liberty, democracy and really everything (but especially technology).
4. A fierce independence that has a really dark side. It took another Quora question to really help me see this one. The question was: "Why do many Americans think that healthcare is not a right for its own taxpaying citizens?" Here's the #1 answer by Anon: 

The fundamental mythos of American culture, is that no matter how poor or humble your birth, you can through grit, spunk and hard work become wealthy and prosperous.

On the face of it, and from the perspective of a class divided Europe, that seems incredibly noble and empowering. The idea that there is that much social mobility, that anyone can forge their own destiny is a powerful part of the American psyche. When it happens, it is an incredible thing. Something Americans can feel proud of.

However, there is a dark side to this mythos. Which is this ... if anyone can win through hard work and effort, anyone who doesn't win, therefore deserves to be poor.

At the core of all the anti-health care reforms is the single concept "why should I pay for the healthcare of those losers.
Added together, these 4 things all contribute mightily to the runaway healthcare system we have today. Today - the National Healthcare Expenditure (NHE) for the USA is $3.5+ trillion per year (about 18% of our GDP) and it's growing at about 5% per year (for as far as the eye can see). The system we have is optimized around revenue and profits - not safety and quality. That safety and quality is best highlighted by what’s known as “preventable medical errors” inside hospitals. That number? Somewhere between 210,000 and 440,000 – per year.

How Many Die From Mistakes In U.S. Hospitals?

That’s a really tough number to visualize – so let’s describe it in terms of the biggest commercial aircraft carrier – the Airbus A-380. 

Now imagine that one of these crashed – every day – for a year. The industry (and world) would be so stunned that the whole fleet would be grounded on Day 2. 

Can we change this system it? Should we change it? Absolutely - but here's a 2 sentence quote on why that’s so hard: 
How many businesses do you know that want to cut their revenue in half? That’s why the healthcare industry won’t reform the healthcare industry. Republican Governor of Florida – Rick Scott. 
That "industry" - the U.S. healthcare industry - is best reflected in this single chart. It is both a global embarrassment and now, a perpetual national crisis:



Popular posts from this blog

Future of oil is bleak. By 2030, 95% of people may not own private cars which would wipe off the automobile industry

A futurist and clean energy expert, Toni Seba, has predicted that electric vehicles would destroy the global oil industry after a decade. By 2030, 95% of people won't own private cars which would wipe off the automobile industry, he says.

Boeing and JetBlue Airways have announced they would begin selling a hybrid-electric commuter aircraft by 2022. Planned by start-up Zunum Aero, the small plane would seat up to 12 passengers and reduce travel time and cost of trips under 1,600 km.


Can Herbalife 'Afresh' cause insomnia(sleeplessness) and heart problems?

Here is another "great" product from Herbalife. Marketed as an ENERGY drink mix. Few people know it contains Gurana seeds which have no active compound giving artificial energy other than caffeine. Afresh also contains additional caffeine

Ingredients of Herbalife Afresh Energy Drink Mix:
Maltodextrin, Orange Pekoe Extract, Guarana Seed Extract, Acidity Regulator - 330 and Caffeine Powder.

Side effect include insomnia, sleeplessness and heart problems, It is especially harmful for people with High blood pressure.

PPF interest rate cut to 7.9% but are other investment options better? Here's a comparison

The Public Provident Fund (PPF) will now offer 7.9% but experts say it is still a good option for investors. Given that consumer inflation is down to 3.65%, the real rate of return of the PPF is a healthy 4.25%. 

"This is quite impressive for an option that offers assured returns," says Amol Joshi, Founder, PlanRupee Investment Service. "Investors should continue to take advantage of this long-term tax-free product," he adds. 

Even if you compare the PPF rate with the 10-year government bond yield, the scheme is attractive. "The 10-year bond yield is a better benchmark for PPF than consumer inflation," says Manoj Nagpal, CEO, Outlook Asia Capital
Currently, the 10-year bond yield is around 6.8% and the PPF at 7.9% makes it for a premium of 110 basis points. "Historically, the average premium has been around 75 bps. So, the PPF investor is today earning a higher real return," says Nagpal. Even so, some investors may be feeling disappointed by the cu…