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The high cost of healthcare in the US has very little to do with the structure of insurance. Insurance industry profits only account for 2% of aggregate medical
by dcolkitt 5y ago
The high cost of healthcare in the US has very little to do with the structure of insurance. Insurance industry profits only account for 2% of aggregate medical expenditures.
The reason that Turkish healthcare is much cheaper than American healthcare is primarily because Turkish doctors are paid much less than American doctors. (As are Turkish nurses, and Turkish drug and device wholesalers, and so on.) There's a very simple solution to that. All you have to do is let Turkish doctors come to the United States and practice medicine. Or better yet let Turkish hospitals open entire branches in the United States and wholesale import their staff, equipment, and drugs from Turkey.
The reason that doesn't happen is because we have a cartel called the American Medical Association that continuously lobbies for antiquated barriers to foreign competition. Unless a physician does a residency in America (which good luck, if you're a foreigner from a foreign school), you will never be allowed to practice in the US.
- nradov 5y agoThere is a shortage of residency slots in general, not just for foreign doctors. That shortage is caused by lack of federal government funding. The AMA has actively lobbied for more residency slots. https://www.ama-assn.org/press-center/press-releases/ama-fund-graduate-medical-education-address-physician-shortages https://www.ama-assn.org/press-center/press-releases/ama-fun...
- adrianN 5y agoYeah if I were a doctor with insane amounts of debt after training for ten to fifteen years I would support any "cartel" that works to increase my salary too. Cheaper healthcare is not the only thing the US needs. Cheaper college education is important too.