Business Report: The high cost of health - Hawaii News Now - KGMB and KHNL

Business Report: The high cost of health

(Image: Hawaii News Now) (Image: Hawaii News Now)
HONOLULU (HawaiiNewsNow) -

When politicians either attack or defend Obamacare, both sides say health costs are soaring, which they are, and our system is better than what other countries have. On this chart, the state of health care is measured by longevity and cost.  The longer people live, the higher that nation's "dot." The higher the cost, the more to the right the "dot" appears.

America does well on longevity, not best but well. On cost we're way out in right field. So why is that? The broad answer is, drug companies and manufacturers of medical devices are powerful on Capitol Hill. And more specifically, Congress years ago cast a bipartisan vote to let drug companies have a monopoly on new drugs for several years, ostensibly to recover their research and development costs, though in practice they do that many times over.
It was supposed to incentivize drug companies to find cancer cues.

Apparently a Nobel prize for medicine wasn't enough. What it has given us instead is pills for married couples relaxing in separate bathtubs.

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