4 ms·
If we spend $3.2TR on medicine and roughly 50% of that is 'overspending', as the article suggests. Then we have roughly $1.6TR in systematic inefficiencies. If
by cjlars 9y ago
If we spend $3.2TR on medicine and roughly 50% of that is 'overspending', as the article suggests. Then we have roughly $1.6TR in systematic inefficiencies. If the misapplication of occupational licensing for doctors are $100BN of that or 1/16th. What, specifically, is the other 15/16?
I think that author makes a good effort to itemize at least one of the components, now we should be asking what the rest are.
- chaostheory 9y agoCould be wrong but I have a feeling that most of the other costs are related to either mitigating or fighting malpractice lawsuits. Do any other countries have a lot of medical malpractice lawsuits besides the US?
- cjlars 9y agoUnlikely. Some quick googling gives an annual cost of $55BN for malpractice. Still, including the above, we're now at 1 / 10 of the overage. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3048809/ https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3048809/
- nradov 9y agoYou would be wrong. We have a natural experiment in that some US states have imposed caps on malpractice damages, yet they have experienced only slight decreases in overall medical costs.
- myhf 9y ago> the misapplication of occupational licensing for doctors are $100BN of that or 1/16th If you accept the premise that doctors are overpaid by 25%, then that represents $20BN of systematic inefficiency, or 1/80th.