I'm that cog. Or at least, was. Situations like this make me thing a lot about the state of the industry and where I lie in life.
It’s a tragedy that our own citizens are not the direct be beneficiaries of that wealth.
I think a lot about the scene in Star Trek IV when McCoy is in a hospital and says “what is this the dark ages?”
Gofundme is like a kafkaesque tragic absurdity that - hopefully - will be looked at as an indictment of the inequitable K shaped economy we’ve built, and hopefully fixed in the future.
This framing by Forbes (any many others really) is insidious because it doesn't take into account the population number and how unevenly wealth is spread.
For instance, Switzerland is not a huge economy - around the 20th in the world, but its citizens enjoy an extremely high quality of life because both income inequality and incomes overall are significantly better that in the US.
But I couldn’t agree more that the inequality and social safety net (or lack thereof) make the numbers deeply disconnected from QoL. Which I believe is the whole point.
If so, then the US is ~7th, or 5th among nations numbering in the millions. Still very high, just not at the top.
This is a thing people believe because pharmaceutical companies keep repeating it. And to be fair, they're not entirely wrong in that getting a drug/treatment from the lab to the pharmacy is incredibly expensive because most drugs don't work and clinical trials are super expensive.
It does seem to me that a better system would be to split out the research/development and manufacturing of pharmaceuticals into the lab development (scientists), the clinical trials (should be government funded) and the manufacturing (this could easily be done via contract).
The market is there to risk money in the world of imperfect information trying to predict what would be good to pursue. That is one of the hardest parts of the process, but it's not even made your list.
Fundamentally, the incentives of society and private companies are misaligned with respect to healthcare. Society wants a cheap, simple treatment that basically works forever (like sterilising vaccines). However, because of how the patent system works, companies want a treatment that is recurring, and can easily be patented multiple times.
Because of this, so much money goes into lifestyle treatments for the rich world, and not enough into re-using things that can't be patented. I think this is a giant waste of resources, hence my suggestions above.
The companies have the biggest PR arms, so took the most credit for a system that had been balanced on a lot of government funding in the earlier, riskier stages. Eventually the marketing got so unbalanced people didn't realize how much the system was more complex than the marketing and voted for people that decided it was a "free market" idea to smash the government funding for the hard parts of science.
Yeah, this isn't a particularly new idea. Like, most of the risk in pharma is on testing, and there's so much waste in spinning up plants for drugs that may not even succeed in Phase III. So I'd like to split that out.
You pay double the OECD average, and more per person for healthcare than the Swiss - and that's only counting the publicly funded parts!
You're ok with that?
https://www.healthsystemtracker.org/chart-collection/health-...