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Tag Archives: India

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Private hospitals and profiteering

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Doctors working in private hospitals work under severe pressure from the management for whom nothing else matters except profit–profit with a capital P.

True, the owners have invested a huge amount of money to set up these hospitals and they have to recover the money. ‘They aren’t doing any charity’, a city-based cardiologist once said. But, in reality, what we see is mindless profiteering without any social responsibility.

They are ruthless mercenaries determined to loot money using every possible unscrupulous ways and unfair means.

As soon as a consultant is appointed to a private hospital, he or she is given a target which means the doctor has to get certain number of patients or close to that number. If the doctor fails to meet the target, he would be chucked out.
Working under such a system, a doctor is always under pressure. He knows his job will be on the line, if he doesn’t meet the target. So, to save his job, the doctor has no other option but to resort to malpractices.

It has been alleged that a city-based private hospital has struck a deal with a government hospital in the city. Moribund patients from that government-run hospital are allegedly shifted to the private hospital.

Patients are put on life-support system even though the doctor in charge of the Emergency Department knows very well that the patients will die within 10 to 12 hours, it has been alleged.

Inhuman!

It has been alleged a ‘well-known cardiologist’ in a city private hospital asked his student doing MD in Bardhaman to get patients. The deal is for every patient requiring angioplasty, the student will get Rs 10,000.
What happened later is shocking! The student told his ‘Sir’ about a patient who needed angioplasty. When the ‘Sir’ told his student that the patient must shell out Rs 1.5 lakh for stent implant, the student pleaded it would be very difficult for the patient to arrange the fund.

However, the patient’s family members did finally arrange that amount with much difficulty. After the angioplasty was done, the patient was handed a bill of Rs 1.8 lakh (Rs 30,000 more than what the ‘Sir’ told him). The student, who does private practice in spare time, was stunned to hear this.

For him, it’s a huge loss of face as he had told his patient’s family that the angioplasty would cost Rs 1.5 lakh. The patient’s family had really a tough time to arrange for the money.

The student said he decided that he would forgo his ‘commission’ of Rs 10,000 and would ask his ‘Sir’ to bail him out or else his practice will suffer in Bardhaman. One can well understand the predicament of the student-doctor!
Numerous instances are there about how the hospital authorities are fleecing ordinary people. A patient, for instance, was admitted to a private hospital in Kolkata. When she was discharged from the hospital, her family members, much to their surprise, found that they were handed an inflated bill.

It has been alleged the hospital had charged Rs 960 for four days for physiotherapy even though no physiotherapy was done. Besides, even though the doctor under whom she was admitted didn’t turn up on Saturday and Sunday, the patient was charged with the doctor’s fees for the two days.

In a heavily privatized and under-regulated market, exorbitant medical bills are pushing millions to poverty, thereby depleting patients’ life savings. In India, out-of-pocket (OOP) spending constitutes over 90% of total health expenditure, heavily impacting vulnerable households. A OOP burden implies a direct financial costs a household pays for medical care such as doctor visits, drugs and diagnostic tests—that are not reimbursed by health insurance.

India ranks among the highest in Southeast Asia for OOP health expenditures, with over 39 million residents pushed into poverty annually due to inflated and fake medical bills.

My question is: profit-making is okay, but profiteering isn’t.

Are the private hospital owners listening?


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Zimbabwe world’s most ‘miserable’ country, Switzerland ‘least’

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Thomas Hardy might have resigned to pessimism when he had said: “Happiness is but an occasional episode in a general drama of pain.” However, modern-day economists have been making painstaking efforts to find out what causes ‘misery’ and ‘unhappiness’.

According to the US economist Steve H. Hanke’s Annual Misery Index (HAMI), Zimbabwe is the most ‘miserable’ country in the world. HAMI ranks 157 nations from ‘most’ to ‘least’ miserable.

Hanke, professor of Applied Economics at Johns Hopkins University, Baltimore, Maryland, had been the advisor to several world leaders, such as Ronald Reagan, Suharto of Indonesia, and the President of Bulgaria.

“The surefire way to mitigate the misery is through economic growth. Comparing countries’ metrics can tell us a lot about where in the world people are sad or happy,” said Hanke.

Zimbabwe has snagged the first-place slot with inflation — or, “economic mismanagement,” as the contributing factor to residents’ unhappiness. According to the index, Zimbabwe experienced a skyrocketing inflation rate of 243.8 per cent in 2022. Venezuela has the second highest misery index score of any country on the planet.

Switzerland has emerged as the ‘least miserable country’ in the world. “It’s hard to beat a democracy in which most major decisions can, if enough of the electorate insists, be put to a popular vote,” said Hanke.

The second-happiest country is Kuwait, followed by Ireland, Japan, Malaysia, Taiwan, Niger, Thailand, Togo and Malta.

The US is among the least miserable countries with a rank of 134.

India has ranked 103rd. The country has fared better than countries like Brazil (rank 27), Pakistan (rank 35), Nepal (rank 63) and Sweden (rank 88).

Australia ranks 116 (Misery index 20.107% with unemployment being the major contributing factor). New Zealand’s ranking stands at 104.

While Finland has ranked 109th, it has historically reigned as the “world’s happiest country.”

The rankings are calculated using the sum of inflation, unemployment (multiplied by two), bank-lending rates, minus the annual percentage change in real gross domestic per capita.

Arthur Okun, a renowned economist who had served as chairman of the Council of Economic Advisers during President Lyndon B.Johnson’s tenure (1963-1969), had developed the original ‘misery index’ for the US in the 1970s. His objective was to find a way to measure the overall well-being of the Americans. Okun believed that unemployment and inflation rate were the most important factors that affected people’s lives.

Later, Harvard Professor Robert Barro created what he had dubbed as the Barrow Misery Index (BMI) in 1999. He had modified the index by adding bank’s lending rate of interest. However, Prof Hanke had amended Barro’s version of the ‘misery index’ by replacing the output gap with the growth rate of real GDP per capita and replacing the 30-year government bond yield with lending rates. After all, higher lending rates mean more expensive credit, and more borrowers’ misery.

Prof Hanke’s latest misery index doubles the unemployment rate and the data is created on that basis.

One reason for Switzerland’s ranking, Prof Hanke says, is the Swiss debt brakeThe debt brake has worked like a charm for the country. Unlike most countries, Switzerland’s debt-to-GDP ratio has been on a downward trend in the last two decades, since it has enshrined its debt brake into its constitution in a 2002 national referendum.

The misery index of Zimbabwe counts 414.7 due to high inflation. The major challenge faced by the country is due to its government ZANU-PF. Prof Hanke states in his blog: “Indeed, ZANU-PF operates more like a political mafia than a political party. Its policies have resulted in massive misery.”He has been tracking Zimbabwe’s economy since 2008 when Robert Mugabe was President.

Zimbabwe, Venezuela, Syria, Lebanon, Sudan, Argentina, Yemen, Ukraine, Cuba, Turkey, Sri Lanka, Haiti, Angola, Tonga, and Ghana comprise the 15 most miserable countries in the world, according to HAMI.

 


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