You Can’t Trust the Medical Apparatus

Mises University is this week, and the annual event has me thinking (and talking about) how vitally important it is for each person to be responsible for their own health.  Of course, it doesn’t help that I’m currently reading Crony Capitalism in America 2008-2012 by Hunter Lewis. The book explains how so much of the economy in America is manipulated and controlled by politicians and special interest groups. There is a full chapter devoted to the American medical system.

Politics and economic principles aside, I firmly believe that people are better served when they are in complete control the “four W’s” of their health care money.

Do you remember the 5 W’s from elementary school English classes? They were used to help schoolchildren remember what to cover when writing informative essays. The 5 W’s taught us to focus on;And finally, I take a close look at the why. Am I buying a gym membership because I truly intend to use it, or do I just wish I would make the time to use it? How can I do the same exercises that I can do at the gym on equipment I have at home? Do I want to use a herb or supplement because  it’s needed, or is it simply easier than an alternative? Sometimes the easier option is totally worth the money, but the decision requires evaluation and thought. Do I believe in the good or service that I’m planning on buying, or am I simply trying it because “someone” suggested it?  This is a lesson I re-learned a few weeks ago when I blindly purchased a “spot-on” flea treatment for our cats based entirely on the word of our veterinarian. The recommended treatment almost killed one of our cats. When examining the why, look at your own values, and determine what’s important to you. Would you rather get immediate relief from pain, or deal with a little bit of pain while your body heals itself? Is the easier, less effective, option the one you’ll stick to? If so, then that’s the one to go with. There’s no point in spending money on a longer duration, more involved remedy that may provide you with long-term healing if you know you won’t stick to the 6-month protocol.

The most important thing to remember is that good economic principles apply to EVERY aspect of our economy– including those aspects that center around health and medical care. I’ve talked to quite a few people over the years who seem to throw out sound economics and money managing when it comes to their health and medical care. People who would not spend a single penny on something unnecessary or unproven who don’t think twice about shelling out hundreds or even thousands of dollars for a medical treatment that only works on 25% of people, or only works 25% of the time.

Whether you choose to participate in medical insurance or not, knowing where your health care money is going helps you provide more and better health care options for your family.

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