Health care Value Gap

The Business Round Table seems to think we have a health care crisis.

“Americans spend $2.4 trillion a year on health care. The Business Round table report says Americans in 2006 spent $1,928 per capita on health care, at least two-and-a-half times more per person than any other advanced country.”

“What’s important is that we measure and compare actual value – not just how much we spend on health care, but the performance we get back in return,” said H. Edward Hanway, CEO of the insurance company Cigna. “That’s what this study does, and the results are quite eye-opening.”

“Higher U.S. spending funnels away resources that could be invested elsewhere in the economy, but fails to deliver a healthier work force, the report said.”

Medicynical note: As expected, despite the waste in our private system, this group recommends health care remain largely as is  with a government safety net for low-income people. What they neglect to mention is that the private, for profit, system is designed to make us all low-income people by fostering the waste of duplicated administrative services, overuse of unproven approaches and not evaluating the cost effectiveness of interventions.

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