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Will healthcare burst too?

Posted Oct 10 2008 2:10pm

It’s on all of our minds in recent days…where is our economy heading and who will fall next?  Surely not healthcare, right? 

This post from Dr. Wes  takes an excellent look at the potential for the “healthcare bubble” to burst from the perspective of a cardiologist-slash-blogger from Illinois.

I wonder how any health care system, much like the foregone housing market, can sustain itself with our current similar mindset of universal, limitless healthcare for all. It will be bigger, better, the party never ends, and the money never runs out. Piñata-like, we grab as much as we can as fast as we can. This undisciplined, unregulated, lack of self-control or discretion money rush across multiple sectors of the healthcare business is exactly what happened in the mortgage crisis. Like the current housing debacle, opportunism reigns over social responsibility.

So what’s the problem? The problem is there are tremors that the our healthcare bubble is going to burst. A bubble by definition is an artificial inflation based on spending money we don’t have. Healthcare has become so expensive that patients are having trouble paying for it. Employers, too, are having trouble paying for it. Insurers are having trouble paying for it. So guess what, the government is going to have trouble paying for it.

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