Market failure in healthcare

When it comes to health expenditure, the US is an absolute outlier, outspending other countries by a substantial margin. So health outcomes in the US must be spectacular. Well, no, US ranks last out of all industrialized countries when health outcomes (like life expectancy, infant mortality, prevalence of chronic disease etc.) are measured at a population level. It also happens to be the only industrialized country that hasn’t adopted the principles of universal health coverage, instead relying principally on private healthcare and market forces to determine who gets what. So why haven’t markets delivered? Well its not surprising at all. Let’s take a look at simple economics.

SUBSCRIBE:
--------------------

BECOME A MEMBER
---------------------------------

This channel posts global health and public health teaching videos and videos about how to find the right job in global health. If you haven't already, please consider subscribing to this channel and becoming part of this community. The channel also provides teaching on research methods, statistical analysis and how to write and publish a scientific paper.

LETS CONNECT:
---------------------------
Twitter: @drgregmartin

[mallorybrowne]

I am in the process of completing my MSc Public Health. I'm so glad I found your videos to brush up on a few of the concepts in an easy to understand and engaging way. Thank you!

[kennedymwita]

@ Greg I'm a huge fan of your channel ! I'm gonna Keep sharing

[Vaishnavigangane]

Hello I’m a last year Mbbs student so what is the scope for healthcare management msc in us

[TheQkey]

here is a question about Universal systems that people very rarely answer, while you do a good job here of explaining why economics doesn't work the same for say Cars or Computers why is it that in University systems you're willing to ignore the conflict between Liberalism as understood in Healthcare and everywhere else in society? some things are done in Universal Healthcare that if done in the name of liberalism elsewhere in society can be seen as a violation of the same Liberal Principles.

Is Healthcare one area in your mind where the ideas of how our world works in general just don't apply or is the easiest answer to ignore the conflict between what we do elsewhere in society in the name of Liberalism and in Healthcare cause the answer won't meet everything we want in a Liberal system? I like UH but also understand at times what we do in it seems to conflict with basic Liberal ideas such as Locke, is there a way to reconcile the two?

I get that in Healthcare many Americans want the best of all worlds one where we can help all people without giving up the Liberal Principles of Locke or others.

[Urzl]

The last part with the addressing market failures is confusing. Why do those things not work? Seems contradictory to the video

[burculuks]

Privatization is an absolute disaster, my country has gone from public to private healthcare; everything is 10 times the price and nothing gets covered.

[shakil]

Hi, I always watch your videos. It's really informative. But the only problem is with the speed of your speech. You speak too fast. Most of the times it makes difficult to focus on topic and also creates problems in comprehension. Please reduce your speed while content delivery.
Thank you