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The cost of health care is intricately discussed in economics literature, particularly given its ever-increasing numbers. One argument is that high sping on medical care results from extensive subsidies provided through insurance coverage. People feel encouraged to consume a vast amount of healthcare when their premiums cover most expenses.
A counter-argument recently has emerged suggesting that the reason lies elsewhere – not just in insurance subsidies but rather because Americans, when they are affluent and have lots of disposable income, want to sp it on medical care med at improving their quality of life. If this argument holds true, you might expect to see high health sping even if Americans were uninsured.
Economists cannot deprive the populace of health coverage for the sake of research studies. However, economists Liran Einav, Amy Finkelstein, and Atul Gupta devised an innovative approach using data about veterinary care as a lens into healthcare costs.
In many aspects, American pets don't enjoy health insurance coverages despite being owned by individuals who fully bear the cost of any medical bills. Yet, sping on pet care has surged significantly over the past two decades – indeed, at even greater rates than healthcare sping.
National Bureau of Economic Research
The growing interest in pet wellness has led to more professionals entering the field. The number of veterinarians in America has almost doubled since 1996 and employment in veterinary clinics is on a steady rise – outpacing employment trs in physician offices that cater to patients.
National Bureau of Economic Research
This data suggests there's much more to American healthcare costs than just insurance coverage. The fact that pet owners are investing significant sums into care despite not having health insurance, suggests that advancements in veterinary technology have made it worth the investment given their disposable income.
In other words, Insurance is much less common in pet care and government involvement more broadly isn't as prevalent. Despite these differences often cited as explanations for the large and rapidly growing healthcare sector in the US, some pet healthcare patterns exhibit similarities to health care trs which strikes us as noteworthy.
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This article is reproduced from: https://www.vox.com/2016/9/27/13075194/health-costs-high-veterinary-dogs
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