Re:Hospital prices are about to go public in the U.S.
by sitkack on Thursday December 27, 2018 @02:35AM
(#18768076)
Please stop using average. Median is a much better measure.
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Re:Hospital prices are about to go public in the U.S.
by rcafdm on Thursday December 27, 2018 @08:46AM
(#18769387)
It’s really not in this context. The median household vis-a-vis income isn’t necessarily the median household vis-a-vis health consumption. More generally, health spending is massively subsidized by society writ large. Society’s willingness and capacity to pay is much better indicated by average income than the income of the median household (never mind issues pertaining to measurement of the income distribution within countries!). Furthermore, the vast majority of health expenditures in most high-income countries are spent on a small fraction of the population in any given year (those that are very sick, badly injured, etc.)
Re:Hospital prices are about to go public in the U.S.
by rcafdm on Thursday December 27, 2018 @08:47AM
(#18769392)
P.S.: It’s my blog.
Re:Hospital prices are about to go public in the U.S.
by throwaway12iii on Thursday December 27, 2018 @02:57AM
(#18768154)
Median and average are not good representations of a distribution.
Re:Hospital prices are about to go public in the U.S.
by mtgx on Thursday December 27, 2018 @03:15AM
(#18768236)
Also even media leaves out the poor who can't afford expensive procedures. It's why Obamacare is ultimately doomed to fail too.
Re:Hospital prices are about to go public in the U.S.
by lovemenot on Thursday December 27, 2018 @04:32AM
(#18768520)
Just looking at your first sentence. I assume you meant median, not media since that is what your parent was talking about.
Median actually does a better job of including the poor than does mean. The reason is that median counts the number of affected people, whereas mean counts the amount of spending. Clearly the latter skews more towards the rich, for whom spending may approach infinity.
Re:Hospital prices are about to go public in the U.S.
by spullara on Thursday December 27, 2018 @03:20AM
(#18768253)
Average can be the median or the mean. Usually the government reports median when they say average.