The Economist Magazine projects that China will shortly overtake the US as the world’s largest economy. China has transformed itself from a centrally-planned closed economy in the 1970s to a manufacturing and exporting hub over the years. Since it initiated market reforms in 1978, the Asian giant has achieved economic growth averaging 10% annually (though it’s slowed recently) and, in the process, lifted almost half of its 1.3 billion population out of poverty and become the undisputed second-largest economy on Earth. Continue reading “China – World’s Largest Economy”
A July 2017 study published by The Commonwealth Fund provides excellent insights into why prescription drug prices are so high. This article highlights some of its observations and possible solutions. Continue reading “Why Prescription Drug Prices are So High”
Drug manufacturers in the U.S. set their own prices, and that’s not the norm elsewhere in the world.
Countries with national health programs have government entities that either negotiate drug prices or decide not to cover drugs whose prices they deem excessive. No similar negotiating happens in the U.S. Continue reading “Reasons Prescription Drug Prices Are So High in the U.S.”
The five largest for profit health insurers each were in the top 100 companies in Fortune Magazines 2017 Fortune 500 list. These five companies, together with their ranking and 2016 profits, in billions are: Continue reading “Billions of Profits to Healthcare Providers”
More than 11,000 organizations spent $3.12 billion on lobbying the federal government in 2016. Below is a representative list with healthcare areas of interest. Not all of the spending in the totals was for healthcare issues: Continue reading “Congress and Big Healthcare – An Unholy Alliance”
The United States stands out for the sheer amount of opioids like Vicodin and Oxycontin it consumes, fueling a deadly drug epidemic. With just 4 percent of the world’s population, the US accounts for about 27 percent of the world’s drug overdose deaths. The federal government estimated 8.5 million Americans, about 3 percent of the population, misused opioid painkillers in 2015, and 2.5 million were addicted to either painkillers or heroin. More than 33,000 people died that year from overdoses. Continue reading “US Opioid Use Blows Away Other Countries”
An October 2017 article in the Harvard Business Review written by David Blumenthal and Shanoor Seervai discusses the contributing causes of our national opioid emergency. Continue reading “Opiod Epidemic – Its Causes”