by Charles Hugh Smith
Of Two Minds
The financialization of healthcare started two generations ago and is now in a run-to-fail feedback loop of insolvency.
Long-time readers know I have been critical of U.S. healthcare for over a decade. When I use the term sickcare this is not a reflection on the hard work of frontline caregivers–it is a reflection of the financialization incentives that have distorted the system’s priorities and put it on a path to insolvency.
To describe how Healthcare became Sickcare, I’m sharing the perspective of an Insider. The financialization of healthcare started two generations ago and is now in a run-to-fail feedback loop of insolvency. As I have often said, Sickcare will bankrupt the nation all by itself. Here is the Insider’s essay: