January 1

During the Vikram visit, I was particularly engrossed by one concept. The doctor mentioned that medicine would be the field of the next great outsourcing phenomenon, where medical referrals won’t be constrained by location. This is a particularly interesting development for American companies because many are getting inundated by the high cost of medical insurance. If the costs of medicine decrease, then insurance premiums will decrease. This is potentially the next great source of savings for American companies, which will allow them to remain competitive in the increasingly global economy.

This is interesting because it seems like the flatter world that Friedman proclaims is also extending into professional services. Accounting work is being sourced around the world. Medical tests are being read by doctors in other countries. Simple services and manufacturing aren't the only fields which will be affected in this globalized world.