Market failure in healthcare

When it comes to health expenditure, the US is an absolute outlier, outspending other countries by a substantial margin. So health outcomes in the US must be spectacular. Well, no, US ranks last out of all industrialized countries when health outcomes (like life expectancy, infant mortality, prevalence of chronic disease etc.) are measured at a population level. It also happens to be the only industrialized country that hasn’t adopted the principles of universal health coverage, instead relying principally on private healthcare and market forces to determine who gets what. So why haven’t markets delivered? Well its not surprising at all. Let’s take a look at simple economics.

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This channel posts global health and public health teaching videos and videos about how to find the right job in global health. If you haven't already, please consider subscribing to this channel and becoming part of this community. The channel also provides teaching on research methods, statistical analysis and how to write and publish a scientific paper.

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