DOCTOR FILES: When the Unknown Is Not So Bad

For decades, the pharmaceutical industry has been highly profitable. The recipe for such profits has been pretty simple for most of the last half-century–discover a chemical or molecule that treats a common problem, like hypertension or diabetes or erectile dysfunction, and make billions of dollars while that product is still under patent protection. But of…

Take 100 Americans who have used medical care this year, find the one who has receive the most medical care, and you have probably accounted for a fifth of all healthcare spending in that group. One person, 20% of spending – that is how skewed healthcare consumption is in this country. Here’s a picture, which…