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Xuewu Liu's avatar

The core issue of the U.S. healthcare system is not its quality, which is among the best in the world, but its low cost-effectiveness and the misalignment between the cost of services and their actual value. Here’s a summary:

1. High Quality but Low Value

The U.S. leads globally in medical technology, advanced treatments, and pharmaceutical innovation, with top-tier hospitals and specialists.

However, despite spending far more than any other country (~$11,000 per capita annually, ~18% of GDP), its health outcomes (e.g., life expectancy, chronic disease management) fail to outperform or even match other developed nations.

2. Why Are Costs So High with Poor Cost-Effectiveness?

(1) Lack of Transparent Pricing

Patients cannot predict bills due to opaque and inconsistent pricing. For instance, the cost of a basic MRI or hospital stay varies drastically without justification.

(2) "Fee-for-Service" Model

Providers prioritize quantity (e.g., unnecessary tests, procedures) over quality of care, leading to inflated costs without proportional improvement in outcomes.

(3) Pharmaceutical Pricing

Drug prices in the U.S. are often several times higher than in other countries due to weak regulation on pharmaceutical companies.

(4) Administrative Inefficiency

A significant portion of healthcare spending (25-30%) goes to administrative overhead, such as insurance billing, rather than direct patient care.

(5) Market-Driven Healthcare

Unlike universal healthcare systems, the U.S. healthcare system operates as a market, prioritizing profit over patients' needs.

3. Lessons from Other Countries

Countries like the UK (NHS), Germany, and Japan achieve better cost-effectiveness by:

Implementing universal healthcare systems with either government funding (UK) or heavily regulated insurance systems (Germany, Japan).

Price controls on services and pharmaceuticals to ensure affordability.

Aligning the cost of care with its value and patient outcomes.

4. Solutions for Reform

To address low cost-effectiveness, the U.S. should:

Transition to value-based care, where payments are tied to patient outcomes instead of the volume of services.

Enforce stricter drug price regulations and consider importing cheaper medications.

Increase pricing transparency for medical services to curb unexpected bills.

Expand insurance coverage to reduce the financial burden on patients, possibly moving toward a hybrid public-private system like Germany’s.

Reduce administrative costs by simplifying billing and insurance procedures.

Conclusion

The U.S. healthcare system suffers from high costs, low efficiency, and poor alignment between service price and value. While its quality remains exceptional, serious reforms in pricing, transparency, and insurance coverage are needed to address its inherent cost-effectiveness problem.

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Jim's avatar

What is the nature of the Singapore health care system? Is it predominantly a public system? How much of our inability here in the US to institute a coherent system, with an emphasis on primary care clinics, is due to the privatization of medical care, the role of mega insurance companies, middlemen such as "pharmacy benefit managers," etc?

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