IS HEALTHCARE RECESSION PROOF?

Whether you live in Canada or the States - you or likely someone you know is or has been affected by the current recession. Several people we know lost their jobs just before Christmas due to company closure or reduced workforce.

Healthcare in the U.S. is big business, and seeing that I am trying to market a product that is in the field of healthcare I began to ask myself - is healthcare recession proof? As a new business owner - do I need to worry about getting my product to market in the U.S.?

It's interesting when I googled the words 'is healthcare recession proof' only American sites and blogs popped up.

According to Catherine Arnst of businessweek.com (a U.S. publication) healthcare is not recession proof. "When it comes to choosing between a mortgage payment and an insurance payment, most people choose their homes. Even people who keep their jobs and coverage will postpone medical procedures during a recession, fearful they may be cut if they take time off, says Skolnick." (Sheryl Skolnick, an analyst with CRT Capital Holdings.)


So... do Canadian families worry about their healthcare during a recession?
My answer would be NO. We don't even think twice about who pays for the bed, nurses, anethesia, dressings, doctor fees - it's all taken care of by us through the taxes we pay. Even if we've been laid off - can't find work and are unemployed for a year - we still don't worry about who is going to pay the hospital bill. The only thing we have to worry about is getting better. Granted if we've lost our jobs and we no longer have a medication plan - things might be a little tight there - but by in large - we don't worry about our healthcare coverage.

I have to admit that there are times when I think we should have a two tiered healthcare system. Let the people who can afford to pay for MRI's, scopes and surgeries pay if they want it done quicker. Heaven knows it's already happening. People who don't want to wait and can afford it are traveling to the States or other countries to have procedures done. Why not keep their money here?

Complaining and views aside; during times like these, I believe everyone should have access to healthcare - socialized medicine you are still a welcomed friend.