Lifetime wealth and insurance
Valentine’s Day breakfast with Geoff Bascand

American medical services prices vs global prices

The International Federation of Health Plans published their latest report on the 2017 prices of international medical services. The report illustrated that both patients and insurance companies in the US paid higher prices in comparison to other countries sampled in the report. The 2018 study by Harvard on the things differentiate health systems found that the US is distinct in a number of ways.

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The US is a very high-cost economy and there are dangers of comparing goods that cannot be traded across borders. A good example to remember is that your don't mind paying perhaps fifty times as much as someone in rural China for a haircut, because everything here is pricier. But service costs are becoming increasingly comparable and can be subject to substitution: some people can get their hip replacements done in Thailand, for example. 

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