Is profit maximization the only goal of business? Can we have lower cost health care?

Ateneo Professor on Entrepreneurship

Repost from cheapcures; why are health care costs so high?

We have been often told that the goal of business is profit maximization.  We have been told also by management guru Peter Drucker that business is an entity that creates customer.  Thus satisfying the needs and wants of customer, and making them aware, enticing them to buy and use our products should be the primary goal of business. Profit is not the primary goal but that is just a performance indicator of our success in satisfying the customer.

Besides there are other performance indicators (objectives) of business:   job generation, customer impact, sales, and financials  and profit is just one of the financial objectives.

In US (and also in the PHL) the pharmas and the hospitals are often criticized to be very greedy and very much in the way of profit maximization.  In the US, health care costs are high but longevity of people is at the tail end.   US spends 10x as much as other developed countries in the world.

We see this trend also beginning in the PHL/

How can we help the other teeming masses of Filipinos who wont see an MD in their lifetime.An herbolario or hilot maybe?  Maybe we can have hilots and herbolarios as another avenue for wellness?

Or use the Dr. Devi Shetty of India model in Western Hospital Care?