Forget Medicare, THIS Is The Chart That Shows Why America Is Doomed

TBI ^ | 3-6-2011 | Joe Weisenthal

[blam]

Forget Medicare, THIS Is The Chart That Shows Why America Is Doomed

Joe Weisenthal
Mar. 6, 2011, 8:16 AM

If you look at the US fiscal situation, it's easy to see that Medicare is a looming black hole ready to swallow the entire economy. Reforming the entitlement seems necessary to prevent fiscal ruin.

But actually that's too narrow a way of looking at things. After all, the costs borne by Medicare are no more sustainable if they're shifted to private individuals. It's just the path is different.

The REAL problem is how expensive our healthcare system is compared to its benefits, at least relative to other countries.

This chart is from SocGen's Albert Edwards. As you can see, the US has the same life-expectancy of Chile at 7 times the cost.

Now, the root causes of this can be debated ad nauseum. We need to reform what we pay for. We need to lose weight. We need to end the doctor cartel, on and on you can go. But if you're looking for a problem THIS is it.

Solve it, and the Medicare crisis goes away.

Image: SocGen

[blam]

"I just thought it was strange that so many folks were commenting to you and were getting no replies. "

Most of the comments addressed to me are in fact posted to the article and not to me specifically. There is on-one else to address a comment to the article except me.

For example: If an article is titled "Sarah Palin Is Stupid", someone may post this reply to me: " You're Stupid Too You SOB", and not mean that about me. LOL.

Have a nice walk.

[steve86]

My girl just ran up $700 in the ER for a sprained finger (really did nothing, just Xray, finger splint and ibuprofen). We really did have to take her in because the symptomology suggested there was a fracture (even made a “cracking” sound).

In 2.5 hours in December I ran up a $3500 bill mainly due to an upper GI endoscopy. ER physicians bill separately which always surprises the newcomers ($450; at most five minutes consultation).

[fr_freak]

A couple of things:

1) Does Chile’s healthcare system guarantee free healthcare to millions of illegals, the cost of which then gets passed down to those who actually pay?

2) Does Chile have all of the technical know-how and wizbangs to prolong life even after the poor patient should die? For example, does someone who goes into a coma in Chile die, or is he kept alive by the latest in medical technology? Do people in Chile who have advanced cancers get treated, or do they die, whereas in the US some live due to expensive medical treatment? The point here is that some of the most expensive treatments help a relatively small number of people to live. If the US eliminated those treatments, the life expectancy would not be much affected, but the overall healthcare costs would.

[Publius6961]

Solve it, and the Medicare crisis goes away.

Eliminate the Welfare* component of Medicare and the problem also goes away.

* Recipient of benefits who never contributed more than $1.75

[Publius6961]

While I am glad to feel better it is bittersweet to realize that this 2 hour visit to the hospital will most likely cover the annual family deductible for our insurance.

I went to the ER for the first time in my life in 2004.
I was there 12 hours, but actually being attended by doctors or nurses for a total of 1 hour, including filling out forms very slowly.

Total charge?

$6000+

I imagine it's gone up since.

[djf]

Last time I went to a doctor, (except for the dentist), I had an ear infection.
I knew I had an ear infection, I didn’t just fall of the turnip truck! I needed antibiotics.

Now, I know how to get antibiotics without going to the doctor, so I got that covered.

Last time I went to a doctor was about 1995...

I tend to think 90% of Americans are about 2% away from being total hypochondriacs.

[familyop]

Medical employees and insurance companies take too much.

[in the wind]

This was just last week so I haven’t seen any of the bills yet. I am not looking forward to sifting through the upcoming redtape between our insurer and the hospital.

The ER is never the place to be unless one has ‘life threatening’ issues. Had I know the hospital changed their triage procedures, the ER and after hours clinic are adjacent to each other, I may have suffered for another day and tried to squeeze in to see our family physician.

[Mind-numbed Robot]

I've posted here over ten years and started over 13,000 threads and have never heard that (got to make comments) as a posting requirement.

While you were in the woods with the dogs we passed a new rule.

[Dr. Sheldon Cooper]

Thank the lawyers.

****************

And their lottery sweepstakes minded juries.

And the Men In Black robes who are typically failed lawyers with an overwhelming sense of "social justice" who think their mandate is to create equality of outcome via redistribution of income.

[nascarnation]

“I tend to think 90% of Americans are about 2% away from being total hypochondriacs.”

You would definitely like this book:

http://www.amazon.com/Last-Well-Person-Despite-Health-care/dp/0773527958

[bert]

regarding the comments..............

It may be that your outstandingly magnificent wisdom is very much in demand