Question - What is the opportunity cost of doing heath care business American style (i.e., with poor quality and inefficiency)?
Answer - American health care business as usual is costing the American taxpayer $1 trillion per year in quality and efficiency waste.
Health care costs are the principal cause of the federal deficit. And health care costs crowd out other needed public services at all levels of government.
Public spending on education, for instance, had it been optimal beginning with the first President Bush, could have provided a whole generation of Americans with better training and preparation for the 21st Century economy, which in turn could have improved our economic productivity as a nation.
In summary, wasteful health care practices in the US are causing our government to fall into debt and shrinking our national ability to improve our productivity, dampening down economic growth by as much as 20% or $3 trillion/year.
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