Populations across many wealthy countries are aging. That means a huge swath of people will soon find themselves needing some kind of long-term care.
Here is a quick look at what the aging of a population means for how much a country spends on long-term care. The data, published in the journal Health Affairs, come from Japan. More here
Here is a link to a New Yorker website article, exploring the challenges of helping patients understand their medical decisions. The author, a physician, makes mention of some of my research. But that’s not the only reason I’m pointing towards the article. 🙂 (Click here to view comments)
A quick quiz before we start today’s lesson. What do we call a tree that grows from acorns? What do we call a funny story? What sound does a frog make? What is another word for a cape? What do we call the white part of an egg? On that last question, were you tempted…
Those of us who work in behavioral economics love discovering brain farts—cognitive biases and unconscious illusions that highlight the limitations of human nature. We enjoy uncovering hidden sources of irrationality — mental shortcuts that send people down the wrong paths.
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Before patients can become savvy consumers of healthcare, they need information about their healthcare choices. Too often, such information is nearly impossible to get, especially when it requires doctors to give patients useful statistics about things like treatment side effects. Since publishing Critical Decisions this fall, I have received a number of emails from readers who…
Imagine for a moment that you are an oncologist caring for a 53-year-old man with metastatic cancer, a person whose tumor has spread to lung and liver. With standard chemotherapy, this man can expect to live around 12 months. That standard treatment isn’t all that expensive in today’s terms, only $25,000 and his insurance company will pick up the entire tab since he is already maxed out on his yearly deductible and co-pays.
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It is not an easy time to be a physician in the United States. Attempt to order an expensive test for a patient and an insurance company is likely to second guess your decision. Try upholding the bottom line for your medical practice and the government will probably start questioning whether you are overcharging for…