Sunday, October 19, 2008

Credit Crisis Affecting Healthcare

From hospitals unable to find funding for continued operations, to medical device companies unable to secure a second round of funding to continue clinical trials, the credit crisis is affecting health care and might be the most effective force yet to help land our healthcare Hindenburg.

It sure isn't going to be our clueless politicians.

-Wes

2 comments:

Toronto life insurance broker said...

I am really extremely curious what will happen with your health care in some month after the presidential election. This crisis is hitting hard the insurance companies, however, they have solid roots (as I know for life insurance, most of the companies are from 19th century and survived the Great Depression). And more, government driven health care is not a secure place - you can see it in Iceland...
Take care
Lorne

marcia said...

This may seem irrelevant, but it's really not. I just got home from Target, where I paid for a bunch of stuff using my debit card. At the checkout, the company added an extra step to the transaction process:

Do you want to pay for everything using this card?

YES NO

Kind of threw me. So I asked the cashier if many people used multiple cards for their purchases. Her eyes bugged wide, and she said, "Yeah, you wouldn't believe how many. It's scary."

Meanwhile, my DH's company has started making payroll installments. Instead of one deposit last Friday, we got 1/3 Friday, 1/3 Monday, and (supposedly) 1/3 tomorrow. We'll see if it works out that way.

I don't think we've seen the worst of this economic meltdown yet.