It's not about the money(or is it?)

We can all agree that money makes the world go round.We'd all love to reside in a utopia that doesn't value the concept of money and we can all get anything that we want at the blink of an eye for no cost. Unfortunately, this is a world that neither me and you will ever live in. Until this changes, we have to simply make do with the fact that if you want a service or a product, you will need to fork out cash. Cash that you had to work for, of course.

Luckily, I live in a nation that, for the most part, follows the European Union's regulations and as such, our healthcare is free of charge here. In addition to that statement, one can also say that the quality of the care that is provided is adequate and although some critics will complain about the longer waiting times and lack of professionalism, no one can argue that free is always better than paying. Of course, this is not always the case in other countries. The United States can maintain that they provide one of the best health care facilities worldwide but the drawback is that it would cost you an arm and a leg. Maybe even two legs...

According to CNBC, in 2016, the United States had spent around 18% of its GDP on healthcare. Compared to other nations, this was double that of what they had spent. So where does this money go exactly? Wages, test costs and medical services take up the bulk of this. Doctors who work in hospitals can enjoy one of the highest wages and it only makes sense. Another contributor to this large amount spent is drugs. The recent COVID-19 outbreak has brought out the worst in some people, unfortunately, and some patients are reporting that their insulin is being sold at prices up to 350 dollars. A far cry from 1920 when the scientists that developed insulin sold the patent for insulin at just 1 dollar. It is quite a shame that the work of Frederick Banting and his aids cannot reach as many people as they would like.

"Insulin does not belong to me. It belongs to the world."- Frederick Banting

 

Call it greed or call it good business practice, no can deny that more and more people are struggling to keep up with their payments and the health of many is taking its toll. Despite my criticism of the Maltese government and its many wrongdoings, I will concede that there is at least one sector that hasn't been beaten and exploited and is working ever so hard for the people who need it.