When the naysayers throw out ridiculous assertions about “Obamacare“, they often overlook the facts. One of those “facts” is that when we compare the cost of medical technologies, we find that European countries have a cost that is anywhere from 1/3 to 1/2 that in the US, for similar technologies.
According to investment analysts who follow the medical field closely, these reductions in cost are attributed to “socialized medicine.”
Recently, Ladenburg Thalmann & Co. Inc.’s, Jeff Cohen, whose livelihood is based on following the costs and efficacy of medical technologies, stated,
“Pricing for medical technology in European markets and the rest of the world is often one-half to two-thirds the cost of the U.S., because medicine there tends to be socialized.”
What does that mean? As “Obamacare” continues to be adopted and implemented in the US, we should continue to see medical technologies’ costs come down, which, in turn, will expand the use of better treatments and reduce the costs of health insurance, resulting in lower premiums.
As it was with Medicare almost 50 years ago, the opponents of Obamacare” should be looking past the politics and instead, focus on the benefits and advantages, from both the treatment and financial aspects. Medicare has been successful in providing health care for our seniors and disabled…give “Obamacare” a chance, and in 50 years, we’ll be able to say the same!