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Why conventional wisdom on health care is wrong (a primer) (2020)
Rich countries consume much higher quantities via higher intensity/tech. It's NOT high and rising: wages, profits, administration, encounters, etc. Income well explains American behavior here too.
“Many apparently closed funding pools such as HMOs, and private insurance companies and employer benefit trusts, are actually porous mixed intermediates, with substantial leakage due to taxation, transfers, cross-subsidization of catastrophic cases, and government guarantees. It is likely the rapid growth of ASCs is primarily a product of technological developments, particularly the emergence of minimally invasive procedures and, more generally, improved surgical practices that have radically reduced both the average length of surgery and rates of complications. Cutting edge medicine, like recent advances in cancer therapy and heart procedures, simply don’t have sufficiently large effects on nation-wide indicators of health outcomes (e.g., life expectancy at birth).
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