How health care quietly powers the U.S. economy | Michael Dowling - Buy Bentyl

How health care quietly powers the U.S. economy | Michael Dowling

How health care quietly powers the U.S. economy | Michael Dowling

By Bryan Wright 86 Comments November 17, 2019


Health care is a humongous economic engine. It’s often forgotten about the fact that there
is a real contribution to the economy by health care. If you’re running a large health care organization,
you’re probably the place that is doing the most construction in the region. So for example, in our organization, we do
more construction than anybody else. If you want to be in the health care business
and you want to be in the laundry business, we have the largest laundry service. If you want to be in maintenance, we have
probably one of the largest maintenance shops in the region. The dietary business – just imagine the
amount of meals that are provided in a hospital every day; more meals than are provided in
any restaurant than you can think about here in Manhattan, every single day, seven days
a week. So if you want to be in the dietary business,
in the food business, health care is a job growth area. The point I’m trying to make is it is not
just a business that only takes care of the medical treatment of a person who comes in
who is ill. It’s all of the other ancillary business. So whatever occupation that you want to be
in, you can find it inside health care. If you’re in a poor community and you have
a hospital – and some people would say, maybe that hospital in that community is not
doing that well, but also, remember, that it is the largest employment source in that
community. And that’s why you often get into a discussion
about, well, maybe that hospital should be downsized. Maybe that hospital should be closed. And there are reasons to argue those points
in certain circumstances, but you also have to face with the reality that, in those cases,
that place is the only place that hires people from that community. So if that facility closes, there are no jobs
in that community. Therefore, that community, which is deprived
at the moment, will only be more deprived if the hospital closes. So it’s just not only health care alone that
you’re looking at. It’s all of the surrounding issues that are
connected to the direct provision of health care services.

86 Comments found

User

ICU 8ITALL

Rockefeller medicine. Is dog shit…..

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User

O'SSÉIN - Master Your Mind With Me

Healthcare is an industry and doesn’t profit on making people healthy. They want you to come back for more. So if you want to live a healthy life, you have to be proactive, don’t wait till you get sick and seek for medical attention. Start now, by taking care of yourself. Eat clean, exercise regularly and make sure to sleep at least 7-8 hrs a day. Be your own leader.

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User

Gorrgrim

So he would agree a free healthcare option for people in poor neighborhoods would help the community?

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User

Discover Your Awesomeness

If the full moon loves you, why worry about the stars? ×

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User

thegreatestlight1

CEO of healthcare company thinks private healthcare is great. Now there's a surprise

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User

We Smoke Bitcoins

How health care is killing Americans and charging them outrageous fees | Normal People

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OCASM

Imagine how much better it would be without so much government meddling.

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Bryn Whitehead

I know.

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User

Urhoboman5

BigThink and TedTalk are becoming a bit too left leaning. I wish they would both go back to speaking on interesting topics without the political overtones. (sigh)

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Mike Coker

That was a really lazy and unnsightful video with no depth whatsoever

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Chip Chipperson

I've been a programmer in healthcare for 8 years and it's an amazing career opportunity. As an independent contractor, I get no benefits and pay a lot of money for health insurance since I don't qualify for low income programs. This in turn makes me want to go to the doctor for trivial things, maybe even get a prescription for something like sleep, just to have something to show for all the money I'm putting into insurance. However, I also realize this mentality is how they get you. I'm very health oriented and do everything at home (work, workout, even groceries get delivered). I don't have a need for a car or drive, so the chances of me getting injured are slim to none. It feels like a waste of money, but knowing anything can happen and how the system works, it's very necessary to invest in your own health. I appreciate having that option of freedom instead of being forced into it.

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Chip Chipperson

AOC should really watch this video. This guy knows what he's talking about.

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Pilot Forever

It’s powering us right into another recession. Pure greed. Healthcare is finalizing the extinction of the middle class.

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PJ

Nice infomercial, unsubbed.

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siegfried greding

https://www.youtube.com/watch?v=BJufEfWifqo&t=227s
Is Capitalism Destroying Healthcare?

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Divergent Evolution

Yes, obviously its health care, not THE BLOODY DEFENSE INDUSTRY THAT GETS OVER A TRILLION A YEAR IN TAX DOLLARS IN THE BIGGEST ACT OF COVERT SOCIALISM IN HISTORY.

Siri – Block Michael Dowling content.

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Mickey Thomas

All those in the comment section who think the medical industry being a part of the free market is a bad idea just remember this…

Free market competition has lead to all advances in medicine, curing diseases, prolonging life, and saving lives. All those who still believe private healthcare is evil are also free to move to a country where healthcare is nationalized

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Chikitsak Dehlimein

Well said, but who will tell this to Indian Government. I have made many videos on healthcare, suggesting its employment role, its structure just to send the message across. You can watch my videos too, Sir. I too talk on similar ideas and ideology. We share the same ideology.

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Bill Curry

He forgot to mention one ancillary: health insurance. No need for it. People just need health care. Insurance is a parasite on the health care industry. He had to have omitted it on purpose.

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acdnan

#Medicare4All #Bernie2020

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Sir Squegg

I’ve always wondered what a welsh accent turning into an American accent would sound like, now I know, thank you.

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sinthason

Charging people 20 bucks for advil and 100 bucks for bags of salt water. Sounds like a racket to me.

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blue_tetris

There is no profit motive in providing health care. It's so plainly obvious–but such an insult to capitalism–that Americans live every day in cognitive dissonance. Thankfully, they don't have to live very long.

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watchulla

It also kills and bankrupts people every single day 7 days a week. When Medicare expands they will hire people. Then they will become a huge jobs source. This is bull shit. A lot of people in lower income with a hospital near it, don't work there.

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User

TheAegisClaw

The civilised parts of the world laugh at your healthcare system…

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User

spike

I have the worst health insurance thanks merica

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Atanas Cho

The health "care " is destroying families. They get rich of sucking the last penny in your pocket.

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User

조성우

What america need is GENERAL Health care… Spend billions of dollars for military but zero for general health care… That's odd…

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User

coitinsforyourocky

This is pure bullshit 👎🏻

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Leo

Is that why healthcare has some of the highest turnover rates and paying low wages for the bottom tier workers?

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Lucas Robbins

I think it's time to unsubscribe

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Victor Reyes

I think what he's getting at is that healthcare is an important service and that keeps up foundational development that is necessary for communities, but also gives incentives to develop business around that hospital. I'm not sure hes necessarily arguing for an economic model of the healthcare industry. Per se.

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reggie byron

Good thing we are asking for single payer and not single provider

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User

p_l_a_t_y_p_i

WHAT THE ACTUAL FUCK!
At the end where he is talking about a hospital 'not doing to well' that is some backwards ass shit. The only way a hospital couldn't be doing well was if they make more people sick. Because medical treatment should be all its concerned about.

He means it in a financial sense doesn't he.

Guys if you're taxed by your government THE LEAST IT CAN DO IS STOP YOU GETTING SICK OR DYING SO THEREFORE YOU DESERVE HEALTH CARE, HOSPITALS, DOCTORS CLINICS.

Think about how much the USA spends on wars and you have this guy doing talks on how great a system is that he benefits from as people needlessly die or become bankrupt but the CEO chud needed to remind us of something that is very fucking obvious LOTS. OF. DIFFERENT. PROFESSION. ARE. NEEDED. IN. A. HOSPITAL.

Oh wow, well done shit head. Thanks for that, because we really needed a fucking CEO to tell us this. How would we have ever have worked it out ourselves. Seriously, fuck this guy.

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User

Yoso

Everybody fraid of dying. Will give last dime to live. That’s the deal.

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User

Sheesh

Deregulate healthcare and prices will fall back to sane levels

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Joseph

This guy is a moron. I don't know how to explain to this idiot how wrong he is.

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User

72tubedmiaz

Very true

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User

thijsjong

There are nations with a lower percentege of the GDP spend in healthcare with a healthier population and higher life expectancy.
SO the efficiency of American healthcare is not high. Are there too many investors leeching of the system disproportionately?
That is wastefull.

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King Peppy

Wow, I always thought they charged you for the room and the food let alone whatever procedure you're there for. My bad.

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ANsOn II

Something tells me weed ties some where in here. I hope MJ over comes hospitals in economical sense. I hate them.

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David Analyst

Healthcare is a means to return people to good health or maintain good health, which is evidenced by all of this construction and laundry and food services being paid for on a short term by random people. You don't go to the $1,000 dollar a night hospital if you aren't sick or in bad health. Comparing the health industry to anything other than a service demonstrates economic illiteracy.

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Bernard Tremblay

And yet, with all that, USA pays twice as much as most developed countries for outcomes that are markedly inferior in a number of areas.
p.s. look into child mortality. now look at the demographics in that data. shocking … precisely along race lines.

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Joe Human

I can't believe he just admitted he works for a racket.

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Kevin Walsh

Lots of flaws in logic… e.g. Just because it's big doesn't make it 'a job growth area'

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Nesano

Awful lotta eurotrash in this comments section.

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Rockin BoBokkin

Our Nation (USA) would spend less on healthcare if we ended private insurance and moved towards single-payer (universal ) health care.

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Jane Bacon

Euthanasia legalize it, so those who can't afford jack can opt for death.

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Jean Bean

He doesn't mention anything about insurance. I think he is right, healthcare is a wonderful field that employs so many people and should be getting way more funding and expansion. We need to be encouraging people to pursue jobs in the industry, especially encouraging people to become Doctors. We can do this by lowering tuition costs for college, and a medicare for all system where we eliminate a large chunk of wasted money from dealing with billing insurance companies. Private healthcare is perfectly capable of coinciding with government funded insurance.

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James L

Metrics come first, not patients.

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Jim Habash

This statement is so true. My family WERE steel workers. I have earned a living fixing CT, MRI, C Arms, surgical robots, even EMR Electronic Medical Records, interrupted for 5 good $ years by the .com boom- and went right back into healthcare without blinking an eye in the recession of 2002-3. Steel mills in Youngstown and Pittsburgh Steubenville and Cleveland all went kaput in the 70s and finalized by 2000s. President Reagan was building the military industrial complex, they needed engineers. Midwest is a shell of what it was, but healthcare technology employment is the only thing I found where you could make a good consistent living. And H1B applicants flood that field now too, minimum payment of 60k. Wages went down for healthcare field service engineers around 2005, and have been stagnant. What else is new in the US? LOL. The MIC needs constant war, the US is now a Corptacracy where Corporations are king, financed by the working mans taxes, while Warren Buffet pays none, GE pays none, and the board members and families of the corporations (with new lower taxes of course Thanks congress!) can buy back shares to $tuff their stock awards compensation rather than capital equipment purchases and hiring. Plot the charts of BA RTN NOC UNH ANTHM CNC (yes the insurance company middle men). Plot the military industrial complex and healthcare insurance companies vs the SP 500 and you'll see what is wrong with America. You pay more for your healthcare while UNH stock goes up vs the SP500. Numbers/charts don't Lie. Up 248% vs the SP500) etf (SPY) the last 5 years. Plot RTN or Boeing or NOC Northrop Grumman vs the SPY the military industrial complex rakes it in off of your taxes. These stock charts will tell you what's wrong with the US.

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Allison Phillips

Bring back asylum for the mentally ill

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Zach Dowlan

No guy you're wrong. Healthcare is a blight on the economy. It's not helping the economy. It's burdening the economy. Do us a favor and quit your job. Moron.

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M Bell

Screw sick people! We need to continue to subsidize the turtlepoop out of health care so we can have more laundry jobs and lunch ladies. Think of the people who make hair nets and dryer sheets. Health care keeps those people afloat.
Thanks for your contribution health care!

Remember when financial institutions were the most contemptible? I kinda miss those days.

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thijsjong

The folks who upvoted this video know nothing about economy.

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Yowzoe

What is this shallow propaganda. This guy is a leech trying to justify…what exactly? His bloated paycheck.

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Brenda Rua

There are 4 big hospitals in my city. All 4 are doing major construction. 3 are owned by one holding/management company. The other big one and 2 smaller ones are owned by another. Go figure.

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DeathDoomDarkness

I didn't know PragerU was using Big Think's channel.

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Analogy Accepted

Buddy, it's not worth the money we all spend on your "job growing." Current system of health care in US is not sustainable, is the least efficient in all of developed world, and is also the most expensive (as percentage of GDP).

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Kyle Dailey

Oh my gosh, rich people working at rich companies, have more money than other poorer companies. Jesus Fucker, No shit Sherlock! But most people can't afford their extreme cost!
The poor community would have more money, if they weren't ripped off by the heath industry.

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Aaron Miller

Please keep explaining how trickle down economics isn't working.

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Kyle Dailey

How about paying the working poor what they're worth?
More money for the hard working poor, would reduce their visits to the hospital.

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Mass D E I C I D E

This is EXACTLY why healthcare shouldn't be privatized. You think our current system cares about or is even modeled for people over profit? You would have to be disgustingly naive to believe that.
It's about damn time that we catch up with the rest of the developed world.

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boyblob

What the heck has been going on on this channel recently? Just bizarre. Pretty close to unsubscribing.

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Steven Rodriguez

Great to know but I can't afford insurance even though I work 40 hours a week. Thanks greedy insurance CEO'S

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Joan Tron

Fuck profit fuck profit fuck profit over people and fuck this Koch brother funded channel

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Joe A

The Left's hysteria to make all healthcare government run, in part to reduce costs, would mean that the women and minorities who make up most of the workforce will be paid less or be fired. It would mean the end of union hospital staffs.

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Dan Schmidt

Nice to see healthcare industry propaganda masquerading as thoughtful discourse. Of course monopolies and oligopolies employ a lot of people—they're often the only or largest local industry, and in a meta-sense they recognize their vulnerability to regulation (and thus their need to maintain a positive image). That has nothing to do with providing efficient and competitive healthcare, however, and in fact accomplishes the opposite.

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@5Nordics

BigThink on health.
The US spends 17.2% of GDP on health, Europeans 10-11%.

In this Gates Found. study (Lancet) the US ranks #29.

Iceland #1 Norway #2 Netherlands #3 Finland #6 Sweden #8 Denmark #17.

The big difference: in Europe the health system is universal, for all. Tax financed.

In the US it is ''free' only if you earn enough to pay your private insurances.

Source https://www.thelancet.com/journals/lancet/article/PIIS0140-6736(18)30994-2/fulltext

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Mirandur Hildur

It should not be a business, it should be a basic right, health care companies that are doing it for money over the health of people can go fuck themselfs.
Private health care is criminal, it was made for money, not for the good of the people.

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CreativveLogic

correct me if i'm wrong but all of the criticisms in the comments seem to be talking about the efficacy of american health care but the point in the video is health care's economic implications and ultimately it's large infrastructure for a myriad of industries within. I think an interesting perspective in our economics as a country but unfortunately, i think, serves the point of a country that doesn't put humanities as a relatively important factor

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k

Types of comments:

1. “I know what’s best for Healthcare as a whole and it should be single-payer!”

2. “Big Pharma and Insurance is entirely corrupt!”

3.”Just live a healthy lifestyle and you don’t need these Healthcare institutions!”

For me, it’s a little bit of everything. Bad and good. Unfortunately, we can’t just change the system to simulate any of these blanket arguments because that would involve impacting millions of lives. All we can really try to do is build the case as detailed as possible for why healthcare should change course in any specific direction.

One big theme I agree with for the most part is the incentives to do this work. Regardless of who makes what money, we need a major overhaul in reevaluating why we have healthcare and ask how can we build a better future for it?

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ComradeWinston

It's almost like he wants to keep making loads of money.

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57goku

I feel like the comments are discussing health insurance while he's talking about healthcare, like the people who actually work in the hospitals as doctors, nurses, radiologists, cooks, cleaners, administrators, etc. I can see how healthcare would be a large job creator as it seems they need every kind of worker to run a hospital haha

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The Watcher

This is why so many people are sick. #pharmedanimals
"Healthcare Services" are not actually healthy. A healthy individual avoids the need for such billable "services." Medicine is not health. It's treatment. Avoiding the need for treatment is health. Few in the Western world know how to take personal responsibility for their health. They are farmed to outsource their health problems to "service" providers. The doctor sells salvation through treatment as the pastor sells salvation through the church. #cutthemiddleman #pharmedconsumers

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Rare Breed

This is how it works:
Medical insurance companies suck as much money as possible from you, whereupon you are able to go to a doctor or hospital who sucks as much money as possible from the insurance company and you.
Doctors don't know their asses from a hole in the ground, so they either maim you for life, and/or pile on useless, exhorbitantly priced "medication" that causes more problems, whereupon the drug companies suck as much more money as possible from your insurance and from you.

And then, hopefully and mercifully you die……

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xmaso plasp

Saving money, not lives.

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Jilik Ramona

Very well done, yes I must agree health care powers the economy somehow.

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Michal Piasecki

This is very informative video.

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niedz wiedz

This also kills and bankrupts the people.

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tomcio marecki

Thank you for your helpful and insightful video.

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Санек Одинцов

This is just shallow propaganda.

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TUTKAable

We need health care but the insurance kills us.

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aganuse readk

Thanks for your contribution health care!

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lomas brendo

We share the same ideology sir.

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Enyaw

Well take a look at Medicare, Medicaid, and other State funded healthcare program. Healthcare in the US is well subsidized. Why don't we talk about why heatlhcare cost are so high?

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