A Quote by Charlie Munger
The quality of the medical care delivered, including the pharmaceutical industry, has improved a lot. I don't think it's crazy for a rich country like the USto spend 15% of GDP on healthcare, and if it rose to 16-17%, it's not a big worry.
Related Quotes
We are a wealthy country. We also are the global engine of innovation in health care, whether it's the pharmaceutical industry or the creation of medical devices.
The other kind of market like technology is healthcare. Nobody likes the healthcare industry, but on the other hand, everyone wants to live longer. The way I look at it, there's going to be tremendous pressure with healthcare as a percentage of GDP rising with new technology, an aging population, and a business model that basically keeps people alive longer to consume more healthcare products.
Over the past two decades the pharmaceutical industry has moved very far from its original high purpose of discovering and producing useful new drugs. Now primarily a marketing machine to sell drugs of dubious benefit, this industry uses its wealth and power to co-opt every institution that might stand in its way, including the US Congress, the FDA, academic medical centers, and the medical profession itself.
It is clear that the pharmaceutical industry is not, by any stretch of the imagination, doing enough to ensure that the poor have access to adequate medical care.
Since the 1920s, virtually all continuing medical and public health education is funded by pharmaceutical companies. In fact, today, the FDA can't even tell health scientists the truth about vaccine contaminants and their likely effects. The agency is bound and gagged by proprietary laws and non-disclosure agreements forced upon them by the pharmaceutical industry. Let us not forget that the pharmaceutical industry, as a special interest group, is the number one contributor to politicians on Capital Hill.
Medicare is expensive because we spend a lot on healthcare. We spend a lot on healthcare basically just because we want to, and doing so has been very good to a lot of people who work in healthcare fields.
...There's a lot of money in the Western diet. The more you process any food, the more profitable it becomes. The healthcare industry makes more money treating chronic diseases (which account for three quarters of the $2 trillion plus we spend each year on health care in this country) than preventing them.
If we don't reform how healthcare is delivered in this country, then we are not going to be able to get a handle on that escalating healthcare costs.
In the last century the practice of medicine has become no more than an adjunct to the pharmaceutical industry and the other aspects of the huge, powerful and immensely profitable health care industry. Medicine is no longer an independent profession. Doctors have become nothing more than a link connecting the pharmaceutical industry to the consumer.
I care about a lot of issues. I care about libraries, I care about healthcare, I care about homelessness and unemployment. I care about net neutrality and the steady erosion of our liberties both online and off. I care about the rich/poor divide and the rise of corporate business.
The pharmaceutical corporations are engaged in the systematic corruption of the medical profession, country by country
The government does not have some magic wand that can 'bring down the cost of health care.' It can buy a smaller quantity or lower quality of medical care, as other countries with government-run medical care do.
Reform of the medical liability system should be considered as part of a comprehensive response to surging medical malpractice premiums that endanger Americans' access to quality medical care.
We need to provide all areas of the country with access to high-quality medical care.
The pharmaceutical industry isn't the only place where there's waste and inefficiency and profiteering. That happens in much of the rest of the health care industry.
It is very expensive to give bad medical care to poor people in a rich country.
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