Monday, May 9, 2011

Iatrogenesis: the negative marginal rate of return and moral hazard in healthcare

What is Iatrogenesis?

The medical establishment has become a major threat to health. The disabling impact of professional control over medicine has reached the proportions of an epidemic. Iatrogenesis, the name for this new epidemic, comes from iatros, the Greek word for ‘physician’, and genesis, meaning ‘origin’.

Healthcare spending is making people less healthy:

To have any hope of controlling healthcare costs, doctors will have to raise their diagnostic and treatment thresholds. And higher thresholds would be good for more than the bottom line. Less diagnosis and treatment of disease would return millions of Americans to normal, healthy lives. That's right: Higher thresholds could well improve health.

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