{"id":4177,"date":"2020-03-04T21:31:19","date_gmt":"2020-03-04T21:31:19","guid":{"rendered":"http:\/\/803.557.mywebsitetransfer.com\/?p=4177"},"modified":"2020-03-05T20:04:02","modified_gmt":"2020-03-05T20:04:02","slug":"the-united-states-of-healthcare-sm-part-4","status":"publish","type":"post","link":"https:\/\/pwer.com\/?p=4177","title":{"rendered":"The United States of Healthcare (SM) (Part 4)"},"content":{"rendered":"\n<p>The COVID-19 Virus<\/p>\n\n\n\n<p>In this series of blogs, we have been supporting our argument that the United States has been undergoing a historic migration in our economy between manufacturing products and goods versus services for several decades. \u00a0This is not a new argument, in fact, it is quite well established within the economic and financial systems. \u00a0However, one thing that is important to note is that healthcare is being overlooked by financial markets and by most investors; healthcare, a service industry, is quietly becoming a predominant part of the service industry in the U.S. economy. <\/p>\n\n\n\n<p>Previously,\nwe noted how healthcare continues to grow and take market share from other\nindustries because \u201copportunity cost\u201d is still a factor in the macro market as\nit is in our own pocketbooks. &nbsp;We have\nalso noted that in good times, healthcare compared to the overall economy does\nwell, and in economic downturns, it actually leaps forward; again, a factor of\nopportunity cost and the desire of investors for a \u201csafe haven,\u201d until the\neconomy spurs and they can look for the newest \u201cshiny object\u201d to invest their\nmoney. <\/p>\n\n\n\n<p>As we\nwrite this, the world is being consumed by the growing epidemic, or possible\npandemic of the COVID-19 virus. The world\u2019s stock markets have reacted with\nmaterial drops in valuation. &nbsp;In a recent\nnews conference, the U.S. President, Donald J. Trump, shared an amazing graph: <\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"750\" height=\"540\" src=\"http:\/\/803.557.mywebsitetransfer.com\/wp-content\/uploads\/2020\/03\/1.png\" alt=\"\" class=\"wp-image-4178\" srcset=\"https:\/\/pwer.com\/wp-content\/uploads\/2020\/03\/1.png 750w, https:\/\/pwer.com\/wp-content\/uploads\/2020\/03\/1-300x216.png 300w\" sizes=\"auto, (max-width: 750px) 100vw, 750px\" \/><\/figure>\n\n\n\n<p>The accompanying\nreport states<a href=\"#_ftn1\">[1]<\/a>:\n<\/p>\n\n\n\n<p>\u201c&#8230;the\nGlobal Health Security Index was released and it examined whether countries\nacross the world are prepared to deal with an epidemic or pandemic. The topic\nwas thrust into the spotlight in 2014 when an Ebola outbreak devastated parts\nof West Africa, killing more than 10,000 people. That prompted many other\ncountries to boost their levels of preparation.\u201d<\/p>\n\n\n\n<p>\u201cThe\nindex analyzes those preparation levels by focusing on whether countries have\nthe proper tools in place to deal with large scale outbreaks of disease.\nMeasured on a scale of 0 to 100 where 100 is the highest level of preparedness,\nthe United States came first, followed by the United Kingdom and the\nNetherlands. Unsurprisingly, higher income countries tended to record better\nscores in the index.\u201d<\/p>\n\n\n\n<p>President\nTrump made a point noting the United States has the premier research and\ndisease management agency in the world, the Centers for Disease Control and\nPrevention (CDC). &nbsp;The CDC \u201cis the\nleading national public health institute of the United States. &nbsp;The CDC is a United States federal agency\nunder the Department of Health and Human Services and is headquartered in\nAtlanta, Georgia.\u201d&nbsp;<a href=\"#_ftn2\">[2]<\/a><\/p>\n\n\n\n<p>As\neveryone will point out (both foreign and domestic critics), the United States\nhas an \u201cexpensive\u201d healthcare industry, but we also have a deep and diverse\nhealthcare infrastructure, supply chain and delivery system. &nbsp;It is also incredibly well interconnected and\nother than for \u201cprice\u201d (another sore issue for me) is relatively transparent;\nfor instance, we know the number of prescriptions each doctor writes. &nbsp;We know how much a doctor gets paid and what\nprocedures they bill Medicare, and all their credentials are displayed in\nnumerous platforms.&nbsp; Furthermore, we know\nthat hospitals are highly regulated, certified and inspected regularly. <\/p>\n\n\n\n<p>We are\ntaking this threat of the COVID-19 virus seriously just as we take the exposure\nto the seasonal flu very seriously. &nbsp;In\nthe United States, we average about 40,000 annual deaths from the flu. <\/p>\n\n\n\n<p>I wonder\nif the extra precautions taken for the COVID-19 virus may reduce normal late season\nflu patterns? <\/p>\n\n\n\n<p>Healthcare\nin most countries is a cost item, as it is in the United States; however, it is\nalso a business. &nbsp;I will close this blog\nwith two more facts; first from the Bureau of Labor Statistics.&nbsp;<a href=\"#_ftn3\">[3]<\/a> \n\nThe median annual wage for\nhealthcare practitioners and technical occupations (such as registered nurses,\nphysicians and surgeons, and dental hygienists) was $66,440 in May \n\n<br><\/p>\n\n\n\n<p>2018,\nwhich was higher than the median annual wage for all occupations in the economy\nof $38,640.<\/p>\n\n\n\n<p>Secondly,\nthe statistics on deaths associated with the COVID-19 virus are showing a\nmarked difference in countries with a robust healthcare system and those\nwithout, i.e., China and Iran in the following chart.<a href=\"#_ftn1\">[1]<\/a><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"\"><tbody><tr><td>\n  <strong>Country<\/strong>\n  <\/td><td>\n  <strong>Confirmed Cases<\/strong>\n  <\/td><td>\n  <strong>Deaths<\/strong>\n  <\/td><td>\n  <strong>% Death \/ Infection<\/strong>\n  <\/td><\/tr><tr><td>\n  China\n  <\/td><td>\n  80,304\n  <\/td><td>\n  2,946\n  <\/td><td>\n  4%\n  <\/td><\/tr><tr><td>\n  South Korea\n  <\/td><td>\n  4,812\n  <\/td><td>\n  28\n  <\/td><td>\n  1%\n  <\/td><\/tr><tr><td>\n  Italy\n  <\/td><td>\n  2,036\n  <\/td><td>\n  52\n  <\/td><td>\n  3%\n  <\/td><\/tr><tr><td>\n  Iran\n  <\/td><td>\n  1,501\n  <\/td><td>\n  521\n  <\/td><td>\n  35%\n  <\/td><\/tr><tr><td>\n  Japan\n  <\/td><td>\n  268\n  <\/td><td>\n  14\n  <\/td><td>\n  5%\n  <\/td><\/tr><tr><td>\n  Hong Kong\n  <\/td><td>\n  745\n  <\/td><td>\n  3\n  <\/td><td>\n  &lt;1%\n  <\/td><\/tr><tr><td>\n  USA\n  <\/td><td>\n  64\n  <\/td><td>\n  2\n  <\/td><td>\n  3%\n  <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>Above data\nissued by The WHO on 3\/3\/2020<\/p>\n\n\n\n<p>For all\nthe ills, difficulties and shortcomings perceived in the U.S. healthcare system,\nthis brief snapshot indicates that our healthcare system is working, and the\nprotective measures instituted by the government are protecting the public as\nwell or better than any other nation.&nbsp; The\nbusiness of America has indeed become healthcare \u2013 and thankfully for all of us\nhere in the United States. <br><\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<p><a href=\"#_ftnref1\">[1]<\/a> Source:\u00a0 \u201cCoronavirus Disease (COVID-19), <em>Situation Report \u2013 43<\/em>, World Health Organization, <a href=\"https:\/\/www.who.int\/docs\/default-source\/coronaviruse\/situation-reports\/20200303-sitrep-43-covid-19.pdf?sfvrsn=2c21c09c_2\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">https:\/\/www.who.int\/docs\/default-source\/coronaviruse\/situation-reports\/20200303-sitrep-43-covid-19.pdf?sfvrsn=2c21c09c_2<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator\"\/>\n\n\n\n<p><a href=\"#_ftnref1\">[1]<\/a> https:\/\/www.statista.com\/chart\/19790\/index-scores-by-level-of-preparation-to-respond-to-an-epidemic\/<\/p>\n\n\n\n<p><a href=\"#_ftnref2\">[2]<\/a> Wikipedia<\/p>\n\n\n\n<p><a href=\"#_ftnref3\">[3]<\/a> https:\/\/www.bls.gov\/ooh\/healthcare\/home.htm<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The COVID-19 Virus In this series of blogs, we have been supporting our argument that the United States has been undergoing a historic migration in our economy between manufacturing products and goods versus services for several decades. \u00a0This is not a new argument, in fact, it is quite well established within the economic and financial systems. \u00a0However, one thing that is important to note is that healthcare is being overlooked by financial markets and by most investors; healthcare, a service industry, is quietly becoming a predominant part of the service [&hellip;]<\/p>\n","protected":false},"author":6,"featured_media":4179,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-4177","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/pwer.com\/wp-content\/uploads\/2020\/03\/AdobeStock_83756689-scaled.jpeg","_links":{"self":[{"href":"https:\/\/pwer.com\/index.php?rest_route=\/wp\/v2\/posts\/4177","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pwer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pwer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pwer.com\/index.php?rest_route=\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/pwer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4177"}],"version-history":[{"count":5,"href":"https:\/\/pwer.com\/index.php?rest_route=\/wp\/v2\/posts\/4177\/revisions"}],"predecessor-version":[{"id":4185,"href":"https:\/\/pwer.com\/index.php?rest_route=\/wp\/v2\/posts\/4177\/revisions\/4185"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pwer.com\/index.php?rest_route=\/wp\/v2\/media\/4179"}],"wp:attachment":[{"href":"https:\/\/pwer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4177"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pwer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4177"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pwer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4177"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}