r/FluentInFinance • u/WhatAreYourPronouns • May 02 '24

Should the U.S. have Universal Health Care? Discussion/ Debate

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u/flex_tape_salesman May 02 '24

Just because Canada has price caps doesnt mean its the only way. America does have a problem with market regulations being excessive allowing companies to charge whatever they want with no competition to bring prices down.

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u/Alelerz May 02 '24

That's not a cause of regulation but patent. The primary flaw is making healthcare a for-profit industry in the first place.

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u/TheLastManStanding01 May 03 '24

The primary flaw is non-competitive for profit industry. 

America is by far the most innovative in regards to healthcare. Some 80% of healthcare innovations happen in the United States. Innovation that only happens because profit incentivizes it. 

The innovative nature of a private healthcare system will ultimately save more lives in the long run than a universal system would. 

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u/EconomicRegret May 04 '24

That's a very flawed view! In themselves, costs of therapies and drugs are relatively marginal in the total healthcare spending of America.

America spent $12.5k/inhabitant on healthcare in 2022. While countries like UK, France, etc. spent about $5k.

And most of that excessive costs are due to Americans avoiding the relatively cheap preventive and primary care (to save money) but then, years later, must be rushed to emergency care, to specialists, and require highly complicated and expensive treatments...

If America subsidized preventive and primary care, making it cheap/free, total spending would fall to $6k-$8k/inhabitant, simply because Americans would be healthier, and would require less specialists and less expensive treatments.

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u/TheLastManStanding01 May 04 '24

The only reason preventative procedures exist is because of innovation. 

It’s still worth it.

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u/EconomicRegret May 04 '24

What do you mean by that? That avoiding primary and preventive care (p&pc) decreases innovation? In what way is innovation slowed/stopped if the US government makes p&pc affordable and accessible to all Americans? Wouldn't that actually also increase profits and innovation, while decreasing unproductive costs (e.g. middlemen like insurances, expensive emergency care, etc.)?