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> alone made $23,000,000,000 in profit in 2023

why is this number considered huge? What measure are you using? These absolute numbers are meaningless, because you have to put it into context. That's why profit margin is what analysts use, not the absolute number.

If i changed those figures to: they made $77 per person, per year in the USA for providing healthcare services, does that still seem as big? Or is it now reasonable?

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slaw 3 months ago | parent [-]

$23,000,000,000 profit/29 million insured makes $793 profit per insured person.

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lordnacho 3 months ago | parent [-]

That's huge isn't it? $800 bucks in profit per customer? What does Apple make? Or Unilever?

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Ferret7446 2 months ago | parent | next [-]

I'm pretty sure medical procedures cost a lot more than an iPhone, no matter how cheaply you're sourcing all of your materials and labor.

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gruez 3 months ago | parent | prev [-]

Why compare to Apple, when the healthcare is arguably more complex and expensive?

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lordnacho 3 months ago | parent | next [-]

They are just other things people commonly spend money on

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chii 3 months ago | parent | prev [-]

the original OP is claiming that the healthcare industry is too profitable. So you have to compare it to something to see if it is too profitable.

	▲	gruez 3 months ago \| parent \| next [-]
		Right, but why use Apple ($800 phone every 2-4 years) compared to say, an automaker ($40k in depreciation over 10 years) or a REIT ($2000 in rent every month)? Moreover, why focus on absolute profits? If the healthcare industry split into 3 (eg. doctors, dental, drugs) but with the same margins, does that mean they're suddenly not "too profitable"?
	▲	intended 3 months ago \| parent \| prev [-]
		Nothing compares to tech. These are not equivalent comps.