Hint: single-payer won’t fix America’s health care spending.
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Americans don’t drive up the price by consuming more health care. They don’t visit the doctor more than other developed countries:
But the price we pay for that visit – for a procedure – it costs way more:
The price you pay for the same procedure, at the same hospital, may vary enormously depending on what kind of health insurance you have in the US.
That’s because of bargaining power. Government programs, like Medicare and Medicaid, can ask for a lower price from health service providers because they have the numbers: the hospital has to comply or else risk losing the business of millions of Americans.
There are dozens of private health insurance providers in the United States and they each need to bargain for prices with hospitals and doctors. The numbers of people private insurances represent are much less than the government programs. That means a higher price when you go to the doctor or fill a prescription.
Uninsured individuals have the least bargaining power. Without any insurance, you will pay the highest price.
For more health care policy content, check out The Impact, a podcast about the human consequences of policy-making.
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What he’s not telling you is the government regulations on private party insurance, private insurance companies aren’t allowed to compete in another state which is why there’s so many.
It’s by design to control, want to know how government runs things in America? Check out our lovely government public school system with horrendous graduation rates. They’ve been recently throwing out annual standardized test because the scores were so poor.
Hurts
Government healthcare wont work in the USA. Healthcare systems here are a business, the government would just raise the taxes to fund the hospitals and doctors and the business bottom line. Patients are customers and doctors are salesmen for big pharma
What will be the financial impacts to physicians, hospitals and Americans regarding medical premiums after the significant amount of damages awarded in the kowalski case? Do the insurance companies stand to profit substantially from the outcome of this case by way of increased premiums for heathcare and liability cover?
"Because greed,for want of a better word,works,greed is good "
The love of money….
Wouldn’t have any thing to do with healthcare and the desire for population control and getting people off Social Security and Medicare, would it.
Why use the taxes to help the US citizens when we can use taxes to help citizens of another country that are already rich and benifit the world with nothing except nagging all the time and asking for more and more money to buy weapons
Very interesting video. I still don’t believe that putting health care into the hands of the gov’t is wise. Government’s are ALWAYS going to be tempted to abuse their power. It is the nature of governing. People are evil and incapable of doing good unless they can benefit something from it. The problem is not private vs government, although I would rather give more money to the private sector, even if I’m not using the insurance because a private sector can’t completely (notice I acknowledge that even in the private sector there is a possibility of overpowering the consumer with control) take over your life. The problem is humanity is evil, corrupt at the core, and therefore greedy.
Because they keep us unhealthy and we don’t question anything.
Hi! I always wanted to ask that to an American. What is it REALLY like? I mean, we've always seen how it is in movies etc, but the media aren't the best way to know the truth. So I wanted to ask something very specific. If something happens to you in the streets, e.g. you're in an accident, what happens? Tha ambulance doesn't come? They come but ask you for insurance? And if you can't answer? They take you in or leave you on the street?
Part of the problem is Drs spend a lot of money to go to med school etc. After graduating you have to pay back your student loans and want to make enough to live a comfortable lifestyle. Part of the solution is to keep the price of school down for medical practitioners. Then the government can negotiate to set the price of procedures, meds etc.
You have to be more than poor to get public healthcare services. I make barley enough to pay for essentials and somehow make to much for assistance… They shove it up our rear ends no matter how much us working class citizens make.
You admit that is buying the government regulation what makes the system so corrupt and you want to give the power to the politicians… Amazing illogical conclusion
Wrong, these are the real reasons why American healthcare is the way it is and there's no way to change it.
1 American Dream, USA has the best paid doctors (and health care providers) in the world, also has the best equipped and fancy hospitals in the world. All of that is INCOMPATIBLE WITH AFFORDABLE HEALTHCARE.
2 Suing culture, socialized healthcare needs some sort of legal protection for their employees, people suing for everything could break the public healthcare system in no time, that's why the USA has such delay and ineffectiveness, because they have to protect themselves from sues.
A chart of 2013 in a vid of 2017? Fishy…
"Why is the free market so bad at controlling the costs of health care in the US?" Lol, good one. The health care system here is so regulated, it is not even close to being a free market.
Vangunu rattacus smells misoginy!
Sent more to israel thats why they have free healthcare and u guys dont😂
Free market? So can I buy a bunch insulin vials in canada for 35$ each and sell it for 70$ in America, right? That way I can easily conpete with the 700+$ per vial that costs in USA…. but I can't, because there is a regulation for that… made by the government, the same ones that give the money for healthcare to the insurnace company instead of the people.
How exactly is that free market? sounds more like a system made by corrupt politician and companies that want no free market
this country is bought and owned by the billionaires, this will never change as americans believe their media and support the broken system.
The problem with generative AI in healthcare is its best feature – democratizing healthcare and providing an equalizing force…So for instance triple therapy in RA vs biologics (as a clinician preference) which are approved and denied based on ability to pay and insurance issues etc. Is the generative AI going to gove everyone biologics citing medical literature references because anything else would be less than ideal? Doctors and nurses as it stands spend hours of free work in a day trying to get auths for what they think is the best drug or diagnostic test for their patient (eg peer to peer calls) – only to OFTEN get denied. Will AI grant them the best drugs equally citing the same references for all patients- bc they wouldnt be able to change the AI for one patient based on ability to pay once you cite references based on standard of care…These are all issues society must be aware of…aside from what elsa has been going on underneath the surface causing doctors and nurses to leave…
Get our health out of the stock market
India got one of best doctors and the public health care is totally free, in private sector competition has come and they have become affordable
That figure at 4:30 doesn't include the business administrators who are taking over healthcare
Singapore has an even higher private spending and they have a sustainable, better and proportionally cheaper healthcare system than any European nation.
I grew up in America and the best decision I ever made was to move to the UK about 15 years ago. Last year I had surgery and paid £0.00 for the procedure, and £9.99 for antibiotics that would have cost about £120 back in the states. Do I miss the Florida weather? A little. Will I ever go back to America. Never!
Such incredible work; akin to a novel that immersed me in similar ideas. "Mastering Money Mindfulness" by Benjamin Hawk
I am Canadian and last year in a trip to Atlantic City, my son had to see a doctor for an ear infection. He spent less than 5 minutes with him and was given a prescription. Very standard stuff, I had ear infection in the past. To my surprise we received a bill for over $1,300. That is so ludicrous. My work insurance paid for it but still I could not believe it.
So its basically a scam
Greed.
Repeal and Replace Obamacare because that healthcare is disaster, higher percentage, and more.
"..government controls access to all of the customers…" What else?
Wrong… you cap what the hospitals CAN charge and control that.
Even Russia has free healthcare 😂😂
Half the country is on at least 1 form of meds. Side effects from 1 medication would have you taking another for that side effect 😂😂
When your country allows things that are banned in others to exist in yours…it’s not health it’s hopefulness!
Part of the issue in America is that there are lots of insurance companies that cost money to support, in the UK we don’t have anywhere the amount of insurance companies in comparison. That admin cost drives the of the en d client. Get rid of the Aetna, Blue Cross. And have it all government ran. Wake up America…live and go bankrupt once you get cancer or heart disease.
Doctors in America make a lot of money , especially the specialists. We have some of the best in the world. If we went to national healthcare , those doctors might quit. They need to figure something out though. Better , more affordable health insurance.
It is because of federal government interference. We all remember Obama's affordable care act, but forget Clinton's imposition of employers
with 30 or more workers forced to provide insurance, Johnson's Medicare and unions.
So why can’t we just have a set price. These drugs cost cents to make anyways
Profit is why
Healthcare and medication are not products
Dang. I like some of Vox’s other videos, but this guy ran straight to communism and didn’t talk about things like free market principals or how THE CURRENT GOVERNMENT RUN HEALTHCARE LIKE THE VA SPENDS ABOUT 50% ON ADMINISTRATIVE COSTS AND MOST HOSPITALS SPEND LESS THAN 5%. He also said prices would go up if we had private healthcare because greedy lobbyists would make it happen and the government would protect us from lobbyists like the government is immune to lobbyists and individual hospitals are not. Aren’t the lobbyists themselves from the medical industry and the only way for a lobbyist to force up the prices of an industry are to do it through governmental power? This guy seems to be peddling some serious clown world stuff. I guess I’ve got to look a lot closer at all of VOX’s other videos to see how politically charged they are.
Factors such as administrative overhead, pharmaceutical prices, and advanced medical technologies contribute to the rising expenses. Exploring solutions, including the role of a financial advisor, can be instrumental in navigating these challenges.
Who wants to break up some trusts?
I’m so in love with this. You did a great job!!