Thomas Ramey Watson

Our broken healthcare system

It’s remarkable how low America places in healthcare efficiency: among the 48 countries included in the Bloomberg study, the U.S. ranks 46th, outpacing just Serbia and Brazil. Once that sinks in, try this one on for size: the U.S. ranks worse than China, Algeria, and Iran.

But the sheer numbers are really what’s humbling about this list: the U.S. ranks second in healthcare cost per capita ($8,608), only to be outspent by Switzerland ($9,121) — which, for the record, boasts a top-10 healthcare system in terms of efficiency. Furthermore, the U.S. is tops in terms of healthcare cost relative to GDP, with 17.2 percent of the country’s wealth spent on medical care for every American.

In other words, the world’s richest country spends more of its money on healthcare while getting less than almost every other nation in return.

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