About fifteen years ago, it seems, something began to change in McAllen [Texas, the most expensive medical city in the most expensive medical country in the world]. A few leaders of local institutions took profit growth to be a legitimate ethic in the practice of medicine. Not all the doctors accepted this. But they failed to discourage those who did. So here, along the banks of the Rio Grande, in the Square Dance Capital of the World, a medical community came to treat patients the way subprime-mortgage lenders treated home buyers: as profit centers.
Last year Charlie Munger sent a check for $20,000 to Dr. Atul Gawande simply because he was so impressed with an article he wrote about health care costs for The New Yorker. Below is an excerpt:
The rest of the story can be found here and I highly recommend it.