The US has more Lawyers (on a Per capita basis) than any other country in this world..
All those Lawyers need to do something to generate cash.So they file more and more frivolous lawsuits and their favorite target is the Medical Industry.So to protect themselves from this nuisance they hire more Lawyers and add layers and layers and layers of Paperwork to protect themselves from any indemnity whatsoever...
This is a good irony of life. Many countries serve as virgins place for research especially drug development programs but do not have the resource and technology know how to accomplish it. Yet they end up being beneficiaries. Critically examining the healthcare issue, it appears more as win-win situation.
Hwong, Healthcare delivery in the United States is truly expensive. The complex surgery that you will do in a place like India, say it costs $15K; that may cost you $25kin the US. The CPT codes that allows the insurances to pay fairly for every treatment assists in cutting down the bills. The main challenge is when you have to pay out of pocket. At that point, your treatment becomes a mortgage. What makes the cost so high could be attributed to the level of standard of treatment and extra caution in micromanaging the resource for treatment because of the fear of litigation.
Hwong, many of the Asian counties are developing nations and they don’t have that much resource and facilities for research. But they can create an ambient atmosphere with basic amenities for attracting foreign investments. Now medical tourism is more populated among the health care sector, which providing health care packages along with the tourism. If the numbers of providers are less then of course monopoly would be there. For your last point, let us assume that everybody is getting their own shares.
You made a good point about U.S. providing quality treatment. I didn't really compare in details but I can see that some Asia countries doesn't have the advance research and technolgy in the healthcare field. However, I still don't know what is the main reason that healthcare in U.S. is only monopolized by a few firms. We all know that it is expensive but who is really the person making the most money? Lawyers? Doctors? Pharmaceutical companies? Insurance companies???
Hwong, when compare with other countries, cost for medical treatments in US is little bit high. But at the same time quality of treatment is world class. I think major portion of treatment cost would be bone by insurance company and the only hectic part is undergoing diagnosis and treatment. Like other sectors, there are Black coins among doctors and the real thing is the matter of choose.
Hwong, you are right. Japan had already adopted the Health informatics system and I think they are one of the lead players among Asian countries. Initially Japan implemented the health information data sharing through a proprietary centralized data repository and recently migrated to Hitachi clinical Repository data management system. In Japan healthcare sectors and treatments are highly subsidiaries by government as a part of citizens well fare scheme.
That's really helpful information. I didn't know that there is already existing infrastructure in place to share medical information like that. I think that in the future it would really help save money for people because of over-treatment. I heard from my friend who used to be CFO for hospitals saying that one of the biggest cost in U.S. healthcare is medical treatment redundancy. doctors tend to over do tests and over prescribe in the hopes of getting more kickback and revenue. Sigh...
Honestly. I question why you say that because what I hvae seen is that Asia countries have much better healthcare system. In Japan, healthcare cost is not the major concern like we have in the U.S. I don't know if they have all the advanced information technology that we have here. When I am unemployed or get old, I will be very worried about the expensive healthcare costs that hits the middle income the hardest.
Rick, what you said is right. After seeing the previous opinions the second doctor may thing in same direction, irrespective of whether the first opinion is right or wrong. Here the doctor’s opinions are keeping in different files and the second doctor has the right to take decision without referring the previous opinions. One good thing in such system is doctors may be very careful before scripting anything in the system, because any other doctors can refer the previous opinions.
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Join EBN contributor Jennifer Baljko on Thursday August 23, 2012, at 11:00 a.m. EST for a live chat on how electronic manufacturers in Thailand have shored up their supply chain to reduce the impact of future natural disasters.
Peter Drucker famously said "Trying to predict the future is like trying to drive down a country road at night with no lights while looking out the back window." Yet in the razor's-edge world of electronics—with a lean supply chain and just-in-time demands—the need to know the future is vital.
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You've heard the saying "the No. 1 supply chain risk is your people." That hasn't always been the case. But today's complex global supply chain requires a new type of multitalented employee. It's one who understands, finance, marketing, economics, is savvy with technology, graceful with relationships and can think analytically.
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