Economics of Long Term Growth in Southeast Asia

How do whole countries become rich? South Korea and Chile did it. Southeast Asian countries can too. Probably not in the same way. This blog takes a detailed look at development problems and strategies for overcoming them.

Thursday, September 21, 2006

US healthcare: Wealth sink, national disgrace, opportunity for offshore services...

Apparently, the American healthcare system, besides being responsible for most new job creation, also has great offshoring potential:

Business Week article; U.S. Health-Care System Gets a "D"
"Although American healthcare probably excels at research and new technology, in terms of serving the citizens fo the United States it doesn't seem to be doing much good: "The U.S. health-care system is doing poorly by virtually every measure. That's the conclusion of a national report card on the U.S. health-care system...gave the U.S. system low grades on outcomes, quality of care, access to care, and efficiency, compared to other industrialized nations or generally accepted standards of care. Bottom line: U.S. health care barely passes with an overall grade of 66 out of 100."

"...the U.S. spends more on medicine, by far, than any other country. Approximately 16% of the nation's gross domestic product (GDP) is devoted to health care, compared with 10% or less in other industrialized nations."

"Health care is also responsible for most new job creation...The study estimates that each year 115 out of 100,000 U.S. deaths could have been avoided with timely and appropriate medical attention. Only Ireland, Britain, and Portugal scored worse in this category, while France scored the best, with 75 preventable deaths per 100,000."

"The U.S. ranks at the bottom among industrialized countries for life expectancy both at birth and at age 60. It is also last on infant mortality, with 7 deaths per 1,000 live births, compared with 2.7 in the top three countries. There are dramatic gaps within the U.S. as well, according to the study. The average disability rate for all Americans is 25% worse than the rate for the best five states alone, as is the rate of children missing 11 or more days of school...."