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Bursting bubbles: is healthcare poised for an explosive pop?

Publication: Mississippi Business Journal
Publication Date: 27-OCT-08 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Bursting bubbles: is healthcare poised for an explosive pop?(Healthcare Mississippi)

Article Excerpt
Soaring medical care and health insurance costs have been of great concern for over a decade. National healthcare expenditures reached more than $2 trillion in 2006, comprising in excess of 16% of GDP. This figure is expected to double by 2016, with expenditures comprising nearly 20% of GDR By comparison, healthcare expenditures comprised approximately 5% of GDP in 1960. Annual healthcare expenditures exceed annual dollars generated by the manufacturing and retail sectors combined.

There is mounting evidence that suggests our nation is in the midst of a healthcare "bubble." In this article, I seek to explain this possibility, the causes, implications and discuss possible remedies.

What is a bubble?

In terms of the economy, a bubble can be defined simply as a condition in which the market price of a good or service is in substantial excess of its value. The result...

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