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Healthcare Spending Continues to Rise
The global healthcare industry is worth $8 trillion. At over $10,000 per capita, US healthcare spending is 30% higher than the world’s second highest spender—Switzerland—and approximately 6.5 times higher than levels in China. Because of this higher spending, the implication is that the US healthcare sector is wasteful.
There has been a surge of interest in whether or not better technology might extract greater efficiency gains. Thus far, the global healthcare industry—especially the US healthcare industry—has been slow to modernize due to the fact that the industry is complex, risk averse, and highly regulated.