It was truly devastating to read the NBC health assessment of our system. To my mind, as hinted by the article’s editor, B. Lovelace, in “U.S. ranks last in health care compared with nine other high-income countries, report finds,” it is simply essential that, in a developed society, health care access be universal with no exceptions. I always knew that in America the price of medical services has deterred people from seeking care, but Lovelace really puts this in perspective, explaining that cost is not correlated with quality, especially here. This made me think about supply-and-demand dynamics and wonder if there is a way to increase the supply of doctors to reduce cost. I believe there is a solution. Most…
This report really does make me have a better view and opens my yo see that the US healthcare is really in a bad shape. We spend so much money—like 18% of our entire economy—yet we still rank dead last among other rich countries on a lot of things like preventing deaths and making sure everyone can get care. It’s crazy because people here are dying younger and there are so many avoidable deaths, but it feels like our system is just not working for most folks. The worst part is, even though we pay so much, a lot of people still can’t afford good care and end up paying a lot out of pocket. And the system itself is…
As an accountant in the corporate finance department for a hospital system, I work behind the scenes to ensure that financial operations align with the needs of our organization. While I don’t directly interact with patients, I understand how economic factors, such as rising healthcare costs, affect both healthcare institutions and individuals. The NBC News article on the US healthcare system's struggles resonates deeply with me, particularly regarding affordability, access, and the financial strain on both healthcare providers and consumers.
The article reports that a large portion of Americans views the healthcare system negatively, citing high costs and limited access as key issues. This issue aligns with economic principles we’ve studied, such as market failure and public goods. Healthcare is often…
For my TeachEcoknowmics Blog Comment #3, I choose to read and discuss an online article titled "Life Expectancy in the U.S. (updated)". This article was written by Berkeley Lovalace Jr. A frightening look at the current state of the U.S. healthcare system, this article was very insightful. The U.S. ranks consistently lower compared to other high-income countries. Americans across the states face barriers to gain health services as it is a high cost. Others do not have insurance coverage entirely depending on their geographical region. The U.S. consistently spends in the healthcare industry, despite this the U.S. has higher rates of chronic diseases, infant mortality, and lower life expectancy. In fact according to America's Health Rankings, the U.S. finished 33rd…
The following article "U.S. ranks last in health care compared with nine other high income countries, report finds" written by Berkeley Lovelace Jr., discusses the economic effect that citizens in the US seem to die the youngest and experience the most avoidable deaths, despite paying much more for health care than other nations. The article discusses topics such as the US healthcare system performance, the US spending on healthcare vs. the outcomes, and comparison with other developed nations. The report shows an economic paradox in the US, despite spending 18% of GDP, way more than other nations, the country stands in last place in terms of health access and outcomes. Taking an economic approach, this inefficiency is not stable nor…
It was truly devastating to read the NBC health assessment of our system. To my mind, as hinted by the article’s editor, B. Lovelace, in “U.S. ranks last in health care compared with nine other high-income countries, report finds,” it is simply essential that, in a developed society, health care access be universal with no exceptions. I always knew that in America the price of medical services has deterred people from seeking care, but Lovelace really puts this in perspective, explaining that cost is not correlated with quality, especially here. This made me think about supply-and-demand dynamics and wonder if there is a way to increase the supply of doctors to reduce cost. I believe there is a solution. Most…
This report really does make me have a better view and opens my yo see that the US healthcare is really in a bad shape. We spend so much money—like 18% of our entire economy—yet we still rank dead last among other rich countries on a lot of things like preventing deaths and making sure everyone can get care. It’s crazy because people here are dying younger and there are so many avoidable deaths, but it feels like our system is just not working for most folks. The worst part is, even though we pay so much, a lot of people still can’t afford good care and end up paying a lot out of pocket. And the system itself is…
As an accountant in the corporate finance department for a hospital system, I work behind the scenes to ensure that financial operations align with the needs of our organization. While I don’t directly interact with patients, I understand how economic factors, such as rising healthcare costs, affect both healthcare institutions and individuals. The NBC News article on the US healthcare system's struggles resonates deeply with me, particularly regarding affordability, access, and the financial strain on both healthcare providers and consumers.
The article reports that a large portion of Americans views the healthcare system negatively, citing high costs and limited access as key issues. This issue aligns with economic principles we’ve studied, such as market failure and public goods. Healthcare is often…
For my TeachEcoknowmics Blog Comment #3, I choose to read and discuss an online article titled "Life Expectancy in the U.S. (updated)". This article was written by Berkeley Lovalace Jr. A frightening look at the current state of the U.S. healthcare system, this article was very insightful. The U.S. ranks consistently lower compared to other high-income countries. Americans across the states face barriers to gain health services as it is a high cost. Others do not have insurance coverage entirely depending on their geographical region. The U.S. consistently spends in the healthcare industry, despite this the U.S. has higher rates of chronic diseases, infant mortality, and lower life expectancy. In fact according to America's Health Rankings, the U.S. finished 33rd…
The following article "U.S. ranks last in health care compared with nine other high income countries, report finds" written by Berkeley Lovelace Jr., discusses the economic effect that citizens in the US seem to die the youngest and experience the most avoidable deaths, despite paying much more for health care than other nations. The article discusses topics such as the US healthcare system performance, the US spending on healthcare vs. the outcomes, and comparison with other developed nations. The report shows an economic paradox in the US, despite spending 18% of GDP, way more than other nations, the country stands in last place in terms of health access and outcomes. Taking an economic approach, this inefficiency is not stable nor…