How Healthcare Became Sickcare, by Charles Hugh Smith

Sickcare is big business. Patients are both the customers and the products. From Charles Hugh Smith at oftwominds.com:

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:

*           *           *

As your readers try to make sense of the American health system and its response to COVID, they may benefit from a brief summary of the system’s current business model from someone on the inside.

It’s my hope that it will help them make sense of what is going on around them.

I read, see, and hear others inside the system scared for their livelihoods if they speak out and I’m ashamed of myself, as my livelihood no longer depends on my silence.

So I’m sharing this to speak for those who can’t.

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