My mom and i were just discussing my dog's visit to the veterinarian. She said that her father would never have taken a dog to the vet for those symptoms, but my dog got a blood analysis and a stomach X-ray. I spent a lot of money on all this, which paid the vet and their staff and the lab and the equipment manufacturers. Conclusion: increased wealth creates increased opportunity to work.
Medical is a special market due to emotional heartstrings. At a certain point, people will pay anything when death or health are involved.
At a political / social impact / behavioral hacking level, there's probably an argument to make near human grade medical services for domestic pets free, as it would likely assist with the reduction in human population growth (aside from companionship, etc.).
I am consistently amazed how cheap and fast medical services are in developing countries. The equipment costs so much less outside of western regulatory oversight, and to the consumer standard blood test batteries are often ~5-10 minutes and ~free.
> I am consistently amazed how cheap and fast medical services are in developing countries. The equipment costs so much less outside of western regulatory oversight, and to the consumer standard blood test batteries are often ~5-10 minutes and ~free.
This makes me wonder how much other countries indirectly benefit from the regulatory oversight that exists in the west. It's the regulatory oversight, compounded with capitalism, that produces medical equipment. Then the oversight over its usage probably adds to the cost of deploying the equipment.
Does the lack of, or reduced, latter oversight contribute in any major way to the pricing discrepancy for procedures for which that medical equipment is necessary?
We in the east are well aware that we benefit in some ways from the extremely risk averse regulators in the US and Europe and others. It's often explicitly acknowledged with labels like "treatment developed in the US" though it can also be hard to separate the real from the false claims of such.
On the other hand, not only does the east manufacture many of the pharmaceuticals sold in the west, it is a vast market which provides additional revenue with a convenient geographical separation which is difficult to arbitrage (Ibuprofen costs nothing in India compared to the US, but you don't see Indians flying to the US with suitcases of pills for sale).
> Medical is a special market due to emotional heartstrings. At a certain point, people will pay anything when death or health is involved.
This is a common misconception of what healthcare services are. People pay more for unsafer cars every day or decide to travel by plane that carries life&death risks for the pleasures of tourism. Life is a currency we pay with anything, from eating garbage to smoking and drinking and fundamentally, taking risks.
That being said, I don't like commuting by bike because of all the dorks going 50-60mph in a 35mph area. Not worth it. Also makes you think twice before slamming the accelerator when I myself drive. Something like every 10mph faster you go equates to like 50% higher risk of fatality- and when your knees and back are the crumple zones, no thank you!
Risks are an inherent part of life. I've dealt with a popped lung before- likely because of athletic activities- and I wouldn't not do those because I might get hurt. If you don't take risks, are you really alive?
Of course. Thats why the whole line of "a healthcare provider can get your entire life's savings and future earning because otherwise you die" is an idea that doesn't make any sense in theory or in practice.
