Why Do We Tolerate an Overpriced and Inefficient Healthcare System? Our Global Approach vs. the U.S. Model

Many argue that we somehow accept an excessively expensive and inefficient healthcare system that, in the end, does not serve us as well as it should. While it is well-designed to achieve its primary goal of maximizing profit for insurance and healthcare industry shareholders and executives, the disparity in healthcare outcomes between the U.S. and other nations supports the notion that our system is lacking in critical areas.

The U.S. Healthcare System and Its Profit Motive

The U.S. healthcare system is big business, driven by profit margins that prioritize shareholder interests over public health. Profit-driven private health insurance corporations don’t care about your health; their sole focus is on making a profit for those who own and run it. This profit-driven nature contributes to increasing costs. The health system is meticulously structured to prioritize profit, driving expenses higher and making it less accessible to the average person.

The Profits Come at a Cost

Healthcare in the U.S. is a for-profit business. The CEO of many insurance companies makes over a million dollars annually. To maintain high profit margins, they must deny as many claims as possible, leaving individuals to foot the bill for these denied services. The sheer cost of healthcare insurance alone is staggering; for a family of three, the annual premium costs an average of $16,000, with a $7,000 deductible. This expense leaves little to no coverage, meaning individuals often end up paying out of pocket for crucial medical services.

Single Payer Systems and Their Benefits

In contrast, many other developed countries have embraced a single-payer system, where everyone is insured. These systems reduce costs significantly and provide comprehensive coverage. According to Gallup, if the U.S. were to adopt a single-payer system, expenses would drop by at least one-third, and every person—man, woman, and child—would be covered. Currently, with the highest healthcare costs in the world, an additional 50 million people are left without basic insurance, highlighting the inefficiency of our current model.

Real Healthcare vs. Corporate Overhead

A significant portion of what is spent under the guise of healthcare in the U.S. does not directly contribute to medical care. Instead, it funds the vast bureaucratic overhead of a for-profit health industry. The corporate jets flown by insurance CEOs, which many healthcare executives use for high-profile conferences, are paid for with the same funds that cover emergency room visits. This is a stark reminder of the reallocation of resources.

Conclusion

The U.S. healthcare system, while effective in generating profits, falls short when it comes to serving the public. By adopting a single-payer system, other countries have achieved better healthcare outcomes at a lower cost. It is imperative that we examine our system and consider alternatives for the benefit of all Americans.