The Evolution of the Health Industry: From Benevolence to Capitalization

In the late 1950s, the health industry in America was primarily driven by a benevolent approach towards taking care of the sick. Medical professionals were dedicated to providing quality healthcare without the burden of excessive costs. However, over the years, the landscape of the healthcare system has drastically changed. Today, the cost of care can exceed thousands of dollars, leaving many individuals struggling to afford the medical attention they need.

As a 4-year-old boy who once broke his arm while playing near my great aunt Wheaten's old window held up by a stick, I vividly remember being taken to the doctor's office without my parents having to worry about the financial implications. The doctor provided his services without expecting any payment in return. This was a time when healthcare was viewed as a noble profession, driven by the desire to help others rather than financial gain.

However, as the years went by, the health industry began to transform into a profit-driven enterprise. The shift from benevolence to capitalization can be attributed to various factors, including the rising costs of medical education, advancements in technology, and the increasing demand for healthcare services.

The Rising Costs of Medical Education

Another factors some experts feel that contribute to the abnormal cost of healthcare is the soaring costs of medical education. In order to become a healthcare professional, individuals are required to invest a significant amount of time and money into their education. This includes tuition fees, textbooks, equipment, and other expenses. As a result, healthcare professionals are burdened with a substantial amount of debt upon completing their education. Once completing the education, then that dreaded word "insurance" comes to bit them as well. They have to have medical liability insurance to cover them from liability. Those cost can be close to the millions of dollars per year.

To compensate for these high costs, healthcare providers often need to charge higher fees for their services. This, in turn also, leads to increased healthcare costs for patients. The need to recoup educational and liability insurance expenses has undoubtedly played a role in the transformation of the healthcare industry from a benevolent endeavor to a profit-oriented endeavor.

Advancements in Technology

Another factor that has contributed to the capitalization of the health industry is the rapid advancements in medical technology. While these advancements have undoubtedly improved patient care and treatment outcomes, they have also come at a significant cost.

The development and implementation of new medical technologies, such as diagnostic equipment and surgical procedures, require substantial investments. Healthcare facilities need to purchase state-of-the-art equipment, train their staff, and maintain these technologies, all of which come with a hefty price tag.

As a result, healthcare providers need to charge higher fees to cover these expenses as well. The introduction of new technologies has undoubtedly improved healthcare outcomes, but it has also contributed to the rising costs of medical care.

The Increasing Demand for Healthcare Services

With the aging population and the increasing prevalence of chronic diseases, the demand for healthcare services again has suffered. This surge in older patients needs, which not only includes doctor care but home care as well, strains that particular populous, giving further escalation of the healthcare system, leading to longer wait times, overcrowded hospitals, home care services and the bottom line costs.

As healthcare providers struggle to meet the growing demand, they are forced to allocate their resources more efficiently. This often means charging higher fees for certain services or implementing additional charges to cover the cost of providing care.

Furthermore, the increasing demand for healthcare services has also led to the emergence of specialized medical facilities and services. These specialized facilities often charge premium prices for their services, further contributing to our health industry.

The Impact: American Public

The shift from a benevolent healthcare system to a profit-driven industry has had a profound impact on the American public. Many individuals and families find themselves burdened with exorbitant medical bills, leading to financial hardships and even bankruptcy. Some having to balance basic needs for their health.

The high cost of healthcare has also resulted in a significant number of people forgoing necessary medical treatment or medication due to financial constraints. Creating serious consequences for public health, as untreated conditions can worsen and lead to more severe health issues in the long run.

A disparity in access to healthcare; Those who can afford to pay for quality care have better treatment options and outcomes, while those with limited financial resources often face barriers to receiving the necessary medical attention. There is the common theory as to why but the real reason leads us back to the inclusion of Wall Street robber barons who determined that man's reasoning to live a comfortable life could bring untold profits to their pockets.

Conclusion

The evolution of the health industry from a benevolent venture to a profit-driven enterprise has had far-reaching consequences for the American public. Factors such as rising costs of medical education, advancements in technology, and the increasing demand for healthcare services have all contributed to the enormous profits in healthcare, as profit continue to be the principal driver, ideas for sophisticated methods has given rise to the uses of managed care (HMO) as the lynchpins that have created even greater margin of profit to those Manhattan big wigs.

While it is essential to acknowledge the positive impact of medical advancements, it is equally important to address the rising costs and accessibility issues within the healthcare system. Finding a balance between quality care and affordability is crucial to ensure that everyone has access to the medical attention they need without facing financial hardships.