[quote=njtosd][quote=CA renter]Capitalism is all about maximizing profits, and nothing else. That’s why we need to regulate it. Personally, I believe in capitalism for the wants, as long as it doesn’t pollute the environment or use up scarce natural resources; we need socialism for the needs, and for the allocation of scarce natural resources, IMHO.
There is an inherent conflict of interest in a for-profit healthcare system. What’s best for patients (prevention, a healthy life with the least intervention) is not at all what’s best for the medical industry.[/quote]
One of the biggest roadblocks is medical malpractice/product liability. In most places other than the US doctors, pharma companies, etc don’t have to worry much about lawsuits (contingency fee arrangements are not allowed in most countries and lawyers are VERY expensive). This changes the ultimate cost of healthcare. Would the average American be willing to give up the option of suing for malpractice or product liability if they were negligently harmed?[/quote]
Under no circumstances should the ability to sue for malpractice be waived. While many doctors make understandable mistakes, there are too many stories where arrogant doctors didn’t listen to the patient or other healthcare providers (like their nurses) and ended up causing permanent damage and injuries to their patients.
But the issue of medical liability seems overblown, at least based on what I’ve read. Of course, ~$56 billion isn’t insignificant, but it’s the price we pay to ensure that doctors give more consideration to their patients’ well-being.
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In an effort to separate fact from fiction—and to provide the first academic study of medical liability system costs— a comprehensive analysis from Harvard School of Public Health (HSPH) researchers found that medical liability costs totaled about 2.4% of annual health care spending in the United States, or $55.6 billion per year in 2008.
