{"id":4187,"date":"2020-03-17T21:59:58","date_gmt":"2020-03-17T21:59:58","guid":{"rendered":"http:\/\/803.557.mywebsitetransfer.com\/?p=4187"},"modified":"2020-03-17T22:09:24","modified_gmt":"2020-03-17T22:09:24","slug":"the-united-states-of-healthcare-sm-part-5","status":"publish","type":"post","link":"https:\/\/pwer.com\/?p=4187","title":{"rendered":"The United States of Healthcare (SM) (Part 5)"},"content":{"rendered":"\n

As we move into Part 5 of this series, we want to discuss\nthe current nationwide pandemic, COVID-19. \nWe have been trying to make the point that healthcare has become the\nbusiness of America, both as the largest employer and the largest individual\nsegment of the U.S. economy, measured by Gross Domestic Product (GDP).  <\/p>\n\n\n\n

We are 100% confident in the stability of healthcare in the United States, and we would highlight the fact that even during the recession of 2008 and 2009, employment in the U.S. healthcare sector continued to grow (see chart below).  Today, the U.S. government estimates (pre-COVID-19) that jobs in healthcare will grow by 14% from 2018 to 2028.  We believe that with the spotlight in the United States focused directly on healthcare and preparation for future pandemics; we will see these estimates revised upward. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Many have viewed consumer technology as the industry to\ninvest in up to 2020; however, as technology has begun to mature, I am now\nconvinced that the next major opportunities lie in healthcare,\nspecifically at the crossroad of technology and wellness through 2030.<\/strong> <\/p>\n\n\n\n

We know there are more than 10,000 U.S. citizens reaching\nthe age of 65 daily and becoming eligible for Medicare.  This means healthcare expenditures in the United\nStates will very likely continue to grow at 4-6%, compounded annually, for the\nnext decade! <\/p>\n\n\n\n

I want to share three (3) graphs that I believe further support\nour position:<\/p>\n\n\n\n

The graph below, represents the U.S. Government\u2019s estimate\nof the growth of National Health Expenditures (NHE) through 2027.  We believe the number is understated, particularly\npost-COVID-19, given the expansion of resilience needed for handling the next\npandemic that is surely to come.  We\nexpect the United States to spend $1 to $2 trillion additionally over the next\ndecade above the estimates in Chart 1. <\/p>\n\n\n\n

The United States is the only major economy where healthcare delivery is essentially private, and a business that can generate profits (or surpluses in the non-profit world).  This is what makes the U.S. healthcare system unique. <\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

In the graph below, we can see how the United States $3.7 trillion is spent.  Consistently, hospitals or urgent care centers have taken about 1\/3 of every healthcare dollar.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

The graph below depicts sources of funding for healthcare in the United States.<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

The United States resilience has always ridden on the\nstrength of its private sector, not the public sector, and in a health crisis\nthat strength is centered on the healthcare system.<\/p>\n\n\n\n

Though healthcare in the United States is essentially a free\nmarket, it really is a hybrid.  Something\nbetween socialized medicine and free market. \nThe reason for that qualifier is that when accounting for Medicare,\nMedicaid and Government (Federal, State and local), about 50% of healthcare reimbursement\nis government controlled, even if provided overwhelming by private sector.  In particular, Medicare and Medicaid set\nrates it pays hospitals and providers; the philosophy is to take it or leave\nit.  No individual or collective price negotiations.\n<\/p>\n\n\n\n

This past Friday, President Trump held a press conference\nwhere he brought the CEOs of Walmart (the largest private employer in the United\nStates with a logistic platform that even the most advanced militaries envy),\nTarget, and the two largest national private medical laboratories Quest and\nLabCorp, who have agreed to be part of the testing of Americans and supporting\ngovernment efforts.  Collectively Quest\nand LabCorp have access to more than 10,000 active locations, dozens of fully\nstaffed processing laboratories.  I am\nmost familiar with Quest, because they are connected to our platform, PWe<\/em>R<\/strong>.\n Quest presently performs over 500,000\ntest collections daily, has more than 3,000 transport vehicles and 25\naircraft.  This is just one private\ncompany<\/em><\/strong>.<\/p>\n\n\n\n

The current pandemic is unpredictable in time and\nslope.  It will however be a live\nlaboratory on how socialized and free market healthcare systems compare.  <\/p>\n\n\n\n

In the democratic presidential debate of March 15, 2020, in\na heated conversation between former Vice President, Joseph R. Biden, Jr., and\nSenator Bernie Sanders, Vice President Biden in countering Senator Sander\u2019s\nproposal for a socialized medicine model or Medicare for All noted, in his eyes,\nItaly with its single-payer healthcare system has not handled the health crisis\nwell.<\/p>\n\n\n\n

We will continue this conversation in Part 6 of our next\nblog.<\/p>\n","protected":false},"excerpt":{"rendered":"

As we move into Part 5 of this series, we want to discuss the current nationwide pandemic, COVID-19.  We have been trying to make the point that healthcare has become the business of America, both as the largest employer and the largest individual segment of the U.S. economy, measured by Gross Domestic Product (GDP).  We are 100% confident in the stability of healthcare in the United States, and we would highlight the fact that even during the recession of 2008 and 2009, employment in the U.S. healthcare sector continued to […]<\/p>\n","protected":false},"author":6,"featured_media":4192,"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-4187","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_328116197-scaled.jpeg","_links":{"self":[{"href":"https:\/\/pwer.com\/index.php?rest_route=\/wp\/v2\/posts\/4187","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=4187"}],"version-history":[{"count":2,"href":"https:\/\/pwer.com\/index.php?rest_route=\/wp\/v2\/posts\/4187\/revisions"}],"predecessor-version":[{"id":4194,"href":"https:\/\/pwer.com\/index.php?rest_route=\/wp\/v2\/posts\/4187\/revisions\/4194"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pwer.com\/index.php?rest_route=\/wp\/v2\/media\/4192"}],"wp:attachment":[{"href":"https:\/\/pwer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pwer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4187"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pwer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}