As a former Ph.D. economics student and a future doctor, very few issues bother me as much as the healthcare system in the USA. It is rife with inefficiencies and abuses and is in great need of reform. And, quite honestly, anyone who has ever taken introductory microeconomics and macroeconomics classes can solve most of our healthcare system's problems.
There are a couple of problems plaguing the healthcare system that can be solved by anyone who understands "barriers to entry". Barriers to entry are obstacles that prevent would-be participants from entering a market. In any market, there are two groups of actors: buyers (demanders) and sellers (suppliers). In the healthcare market, the suppliers need help. And we can fix what ails the supply side through the simple removal of three entry barriers.
In order to become a doctor in the USA, you need to complete 4 years of college, 4 years of medical school, and then 3-8 years of residency (depending on specialty). At the earliest, a person can start practicing on his or her own when he or she turns around 30. How many other careers have this sort of a strenuous education program?
In addition to the 12+ years of training after high school, we need to look at the educational costs imposed on aspiring physicians. The average college graduate in 2009 left school with $25,000 in loan debt. Medical schools' tuitions and other costs are close to $50,000 annually. So, it is not uncommon for students to leave medical school with over $250,000 in total debt. And, on top of that, recent medical school graduates cannot make enough to pay back those student loans until after residency is completed. So, today's doctors oftentimes have to make student loan payments into their late 30's and early 40's.
Another (although smaller) entry barrier is the specter of malpractice lawsuits and malpractice insurance. It is not uncommon for doctors in certain specialties (like OB/GYN) to pay $50,000 yearly in malpractice insurance. Granted, insurance rates vary greatly by the specialty and the state, but that does not mean changes should not be made to the system.
(Note: people become physicians because they want to do something great for their fellow human beings; they want to make a difference by helping people and they have the skill-set to do so. They are, in other words, better people than you will ever be. When they make mistakes, I have no problem holding them accountable. But, do not forget that doctors are humans just like you: you probably screw up all the time and I am pretty sure people cut you some slack. So, why shouldn't you give your doctors the same treatment)?
Now that we know the main three entry barriers (training time, costs of education, and malpractice issues) in the healthcare provider market, I can recommend some simple reforms to get more doctors into the healthcare field to meet the ever-increasing demand for healthcare services.
In terms of training time, the answer is to shorten college and medical school course requirements. Specifically, do not make would-be doctors take unnecessary classes during college; additionally, in terms of medical school, perhaps we can cut it down to three years. Of course, the top priority should be to do something about residency. My roommate will be a resident at Stanford, and he says that he will spend half of his 80-hour week on meaningless paperwork. And he has to deal with that for his entire 4-year residency. Why are doctors wasting 40 hours a week on paperwork? They could be learning important medical stuff instead, and, therefore, cut their residencies in half. This change definitely needs to happen.
As for education costs, you can start with opening more medical schools across the USA. Additionally, we could subsidize students (like most western countries do).
In terms of malpractice insurance, it is quite simple: cap the amount of damages a doctor can be responsible for. And, for those few physicians who are truly negligent, revoke their licenses. We do not want bad doctors around doing bad things to helpless people.
The healthcare system in America is too large (about 16% of GDP) to allow to run this inefficiently. And, I might add that our problems are not beyond fixing yet. I just hope that you all have the sense to propose these reforms to your Congresspersons so we can save our healthcare system before it flat-lines.
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