yes indeed our healthcare system is making money.
I once ran a report of the number of companies with mkt caps over 20 billion in the market - first the healthcare industry and then the semiconductor industry.
In the semi industry there are TWO companies with mkt cap over 20 billion. Intel and TXN (then).
There were over 40 companies with mkt caps over 20 billion in healthcare. First you had the drug companies: J and J, Pfizer, Abbot, Alcon, Lilly, Novartis, Glaxo, Astrozeneca, Merck, Wyteh, Bristol Meyer, Schering Plough.
Then the biotechs: Genetech, Sanofi, Amgen, Gilead, Celgene, Novo Nordisk. Biogen used to be in here but fell off.
Then to be complete you should look up the HMOs, the Insurance providers, etc etc.
Bottom line- there are TEN TIMES the number of expensive, public companies in healthcare as any other industry. Why?
Because this industry is skimming 15% off the US 14 trillion dollar GDP every year. This industry is collutive, corrupt, it is the "military industrial complex" that Eisenhower once warned about- except it is the medical industrial complex, and it needs to shut down.
note that this has nothing to do with what doctors get paid. Doctors and healthcare providers as well as facilities are underfunded. The money is going to the executives at these corporations- similar to the music industry. |
