Big data destroys America's health care system

One reason why America's health-care system has failed miserably is that it ignores the role of big data. Big data has changed the health care system in the US, not to be better.

Insurance premiums for insurers have been calculated by actuaries on the basis of morbidity and mortality statistics. This is based on metadata, which is data, most actuaries do not have the means to delve into large amounts of insurance data for analysis. In this system, the profitability of the insurance company and the size of the insured increase linearly, so the insurance company always want to have as many people insured as possible to maintain profits.

But at the start of the 1990s, the cost of computing has fallen, making it possible to rate accounting based on personal health outcomes. A notable change in the health insurance business is the shift from the pursuit of coverage to interest rates, where the business model of health insurance in the US has shifted from being as far as possible to covering a small group of people who are less in need of a health insurance system, that is, healthy people buying insurance.

Health insurance targets have been converted from relying on the majority of policyholders to profit from all policyholders. Since people will eventually die, it is not appropriate to act as a social policy, something that has been known all over the world.

The US health insurance company's profits soared, but the result was millions of of American households were not protected by health insurance.

Given that the objective of the community is to provide health protection to the public, it is obviously not a good way to take insurance as the only health insurance. It will only be a new bubble that faces bursting.

Some people think that the market will eventually solve the problem of large data. How to solve? Judging from the sheer economic power, I have not seen how to solve the problem. (Lion Compilation)

(Responsible editor: The good of the Legacy)