There are a multitude of reasons why healthcare is cheaper here, but quality is certainly not one of them. A good portion of health care costs in the U.S. are tied up with administrative costs and insurance costs. Additionally, the high costs of pharmaceuticals and medical equipment add to the overall picture.
Here are some other reasons why the costs are less overseas:
- Lower cost of labor
- Lower real estate values
- Lower construction costs (to build hospitals)
- Cheaper medical supplies/equipment/medications