HappySqurriel on 21 April 2009
| Words Of Wisdom said: When there is an inelastic demand for a good or service, a provider is able to milk it for all its worth in the form of higher prices and compensation. I wonder how the face of modern health care would change on a global scale were the high prices on services and goods (medicine) to fall by a fairly large amount in the medical industry as a whole. |
The problem is that (for most people) there were very inexpensive alternatives for their healthcare that they simply refuse to take ... Regardless of the country you're talking about, between 75% and 80% of illnesses which represent between 80% and 90% of total costs are preventable.
