Monday, December 30, 2019

Healthcare and Education Costs

Both healthcare costs and costs of higher education have soared over the past 20 years, as shown in this tweet.

One explanation often offered for the costs of healthcare is that providers (doctors, hospitals, etc.) are highly paid.  It makes sense to me--the comparisons of doctors salaries here and abroad which I've seen show our doctors to be much more highly paid.  If that explanation is right, then is it also the case that our education providers, professors and colleges, get more money than educators overseas?  That seems counter-intuitive somehow, but that may just be my erroneous impressions.

[update: saw a reference to the fact that average college debt for doctors is $200,000, so it's possible that the high cost of college plays some role in creating the high cost of health care??]

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