Providing best-practice medical care to everyone in India is a collossal challenge, and eventually doable I imagine. Happy side-effect if progress toward that goal shames developed-world costs down 90%! Which is feasible right now, just needs political will.
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All I know about Modicare is what's in that article, and that did make me skeptical about it, too. However, the profiled guy thinks he can deliver at those prices, and that is driving him to innovate.
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The cost is definitely not 10~20%, private healthcare doesnt have 80% margins -.-
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Profit is not where the money goes. Paperwork, particularly arguing with insurance companies, is a huge cost especially in the US. But also capacity utilization is very low, which is one of the issues addressed in the article. Hard to optimize in US due to systemic obstacles.
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US’ R&D subsidizes the rest of the World. Of course India can go cheap considering that majority of the tools, drugs, procedures were invented in US. I hate the price of healthcare in US but this is not a good comparison
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Based on quick web search, total US healthcare R&D is apparently about $120bn/year, and total US healthcare spending about $4tn. If those numbers are right, R&D is 3%, so not a significant contributor to cost.
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Frankly it is stupid to compare US cost to India. Median income in India is $700 per year. Everything is obviously significantly cheaper.
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