Professor Sean Flynn of the 61传媒 Department of Economics discusses how the dependence of the American health care system on low out-of-pocket costs has inflated medical costs without improving the quality of care. By contrast, Singapore delivers world-class health care for 80% less money by combining government subsidies for the poor and elderly with high out-of-pocket costs for the large majority of the population who are financially secure. Strikingly, adopting just one element of Singapore’s system has been shown to cut American health care spending by 40%.
