The Business of Health

The business of health is a growing business in the United States. One of the main reasons why it is a big business is because the government does not subsidize everyone’s healthcare costs like they do in other developed countries, such as Canada. Instead, the healthcare system in the United States uses private health insurance companies to help lower the costs of people’s healthcare. However, the catch is that people have to pay high monthly premiums every month in order to keep their health insurance. This allows these insurance companies to make huge amounts of money. They will also look for any reason they can not to fulfill someone’s insurance claim when it is filed. Before Obamacare, insurance companies used to look for preexisting conditions as an excuse not to pay somebody’s claim. Now people just have high deductibles on their insurance plans, which most of them cannot afford to pay. Believe it or not, insurance companies depend on people not paying their deductibles because these companies don’t have to pay any money towards the claim until the deductibles are paid. This means the companies save money and they get to maintain their high profit margin. This is the business of health in the United States.

Business of Health

The business of health doesn’t just stop with insurance companies paying for traditional medical emergencies and doctor’s visits though. There are third party companies that develop over-the-counter health treatments for a variety of health conditions and then sell them in retail stores or on television. Some of these treatments work and some are just playing on people’s desperation to fix their health condition. For example, there are many infomercials on television that sell “unique” health products. You might find weight loss pills or gadgets being advertised on these infomercials with the promise that you will lose weight while only putting in a little bit of effort. These types of advertisements are clearly deceptive, but people still buy these products anyways because they want to believe it will work.  As a result, these health gurus make millions of dollars off their health products that don’t even work. You might wonder why they don’t get shut down if it is a scam. Well, if you look closely at their commercial they will have fine print on the bottom of the screen that warns people that they have to regularly exercise and be on a strict diet in order to achieve the results advertised. The fine print may appear for five seconds before it goes away. However, this fine print is the legal technicality that allows them to get away with it. This is another example of how health has become a big business in the U.S.

People will always need healthcare. It is inevitable that we will get sick or injured at some point in our lives, which means we will need to pay for treatment to make ourselves better. But just remember that you should only purchase the type of healthcare that is actually given to you by a licensed doctor. Avoid using any gadgets or medications purchased off a television program or over the internet. That way you can spend your money wisely when it comes to your health.

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