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It’s also sometimes needlessly expensive when companies make excess profits on medical gear. It’s up to governments (is really) to help everyone get access to i
by Synaesthesia 8y ago
It’s also sometimes needlessly expensive when companies make excess profits on medical gear. It’s up to governments (is really) to help everyone get access to improved care.
- Symmetry 8y agoMedical device companies have very high gross profit margins but net profit margins around 7%, which is pretty typical for high tech manufacturing. That suggests that there isn't much in the way of excess profit.
- linguistbreaker 8y agoAgreed I think the (financial) excesses of the health care system are mostly related to the litigiousness of the USA and the administrative burden.
- nradov 8y ago"Overall annual medical liability system costs, including defensive medicine, are estimated to be $55.6 billion in 2008 dollars, or 2.4 percent of total health care spending." https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3048809/ https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3048809/ Litigiousness is an issue but it's not the biggest one.
- kevinalexbrown 8y agoSome medical devices also have other net cost benefits though. For example, shorter, less intensive hospital stays from less invasive testing.
- sametmax 8y agoThis thread went from factual to political very quickly.
- anonuser123456 8y ago>companies make excess profits on medical gear. Define excess profits.