For These Uncertain Times What Type of Health Insurance Is Best?

In wake of the election which insurance is best?
Three in ten uninsured adults in 2019 went without needed medical care due to cost. 

In wake of the 2020 election outcome…

For These Uncertain Times What Type of Health Insurance Is Best?

November 24, 2020 – According to Dr. Steven Goldstein, founder of the Houston Healthcare Initiative, “with the current system we have, I would buy a policy that has a high deductible,” he told his podcast audience. “This is sometimes known as ‘catastrophic’ health coverage. Then I would pay cash for my health expenses.”

That times are unsettled was never truer than in 2020. With the U.S. House and the presidential election settled, the majority of the senate remains undecided and will stay that way until the two runoff elections for both Georgia senate seats on January 5, 2021. The implications for the U.S. healthcare system are many. What can or should Americans do in the near term? Listen to “The Houston Healthcare Initiative Podcast to find out. The Houston Healthcare Initiative podcast can be heard on SoundCloudGoogle PlayLibsyn FeedStitcheriHeartRadioSpotify, and the Houston Healthcare Initiative web site.

Cash & Catastrophic Coverage

According to Dr. Goldstein, cash payments are accepted for most if not all medical charges and prescription drugs. Do not try to get the ‘insured’ rate to put against your deductible. Paying cash is much less desirable with the insured rate. “Most people will never reach their deductible amount anyway,” he said. “This arrangement is the best value for people under the current system. So, while at the doctors’ office show them your insurance card but tell them you are paying cash.”

Return of the Mandate?

Most Americans get their health insurance through their employer. The Affordable Care Act, also known as Obama Care, made more choices for insurance available and penalized people who did not purchase health insurance. While not ideal, it was a way to get more people covered by private insurance than before. Plus, it offered subsidies for those who could not afford insurance.  But at the same time, it was the mandate and accompanying monetary penalty that seemed to make the policy so unpopular with many. “The overall insurance industry and its approach to paying for healthcare are very flawed in fundamental ways,” Dr. Goldstein told his listeners. “We can spend time and money to make a bad system work better and that is probably what will happen in the near term.”

Likely Short-Term Changes

Some near-term changes are likely to be mandates for private firms and their employees to provide for and buy health insurance. The cost of care for uninsured workers is often passed along to the insured through taxes and other mechanisms. There are employed people now who go without health insurance and keep the part of their pay that would go to health insurance. One economic rationale for employer mandates is that the cost of care for uninsured workers is often passed along to the insured through taxes and other mechanisms. Mandates are, in part, an attempt to eliminate those who opt out of available coverage.

American Attitudes About Caring for Each Other

Generally, Americans have decided that we will treat sick and injured people who do not have insurance, but that treatment is not free. “So, we have all these schemes for the uninsured, or others to make people buy insurance,” Dr. Goldstein said. “While caring for the sick and injured is laudable, paying for it is another matter, like with the Obama Care mandate.”

Three in ten uninsured adults in 2019 went without needed medical care due to cost. Studies repeatedly demonstrate that uninsured people are less likely than those with insurance to receive preventive care and services for major health conditions and chronic diseases. Not having insurance is generally a financial issue and one that leads to unhealthier people. “With the catastrophic coverage, patients are able to be seen as many practices will not see anyone without insurance,” Dr. Goldstein said. “Paying cash for services and not applying them to the deductible will both save money and result in a healthier population.”

About Houston Healthcare Initiative

The Houston Healthcare Initiative podcast with Dr. Steven Goldstein is an information vehicle for people who want to know all medical options for themselves and are interested in reforming the healthcare industry. To learn more about the Houston Healthcare Initiative please visit www.houstonhealthcareinitiative.org.

Compare Democratic and Republican Healthcare Plans and What the Public Can Do About Them

Compare Healthcare By Party

Compare Democratic and Republican Healthcare Plans and What the Public Can Do About Them. The healthcare and medical insurance industries are massive with billions of dollars of income. They are able to buy advertising and lobbyists to gain every advantage that money can buy. To listen to the podcast, click below. 

Do we really have any chance of meaningful change for an industry that all but regulates itself? Or should we just resign ourselves to healthcare and insurance companies doing and charging what they want with little if any restriction on them? On this podcast, with what is a more optimistic point of view is respected Houston based neurologist and founder of the Houston Healthcare Initiative, Dr. Steven Goldstein.

Healthcare reform according to the Democrats is some form of single payer system. According to the Republicans it means more price transparency and more competition between insurance companies. The Democratic reforms will indeed lower healthcare costs by fiat and not cause any appreciable decline of public health. However it also will not improve public health. It will however make individual patients unhappy because of rationing of care. The Republican reforms will have little effect on lowering costs but will avoid the rationing of care. It also will not improve public health. No matter which reforms are adopted patients will be unhappy with the results. Also no legislation will be passed without the blessing of the insurance companies, pharmaceutical companies and hospitals.

What Can The Public Do?

Individuals and companies need to walk away from the insurance system. If enough companies  and individuals leave, the current system will collapse. The best alternative to insurance at this time is the healthcare cooperative. When combined with a health savings account and a high deductible sharing of healthcare costs we can begin to see a gradual reduction in cost. Of course, the best way to lower costs is to lead a healthy lifestyle. This will indeed improve public health. For the medicare age groups, the managed medicare plans lower costs by partial rationing of care combined with encouraging a healthy lifestyle. I do not have the statistics as to whether or not managed medicare plans improve public health.

What About Obamacare?

Didn’t the Affordable Care Act, also known as Obama Care, make more choices for insurance available and penalize people who did not purchase health insurance?Yes, but look what happened to health insurance premiums. They kept rising even faster than before. The subsidies, while allowing more people to be covered by insurance, were a boon to the insurance companies allowing for the increase of premiums and increasing the number of policies sold. This is why the insurance companies and hospitals were in favor of the bill in the first place. We can see the result- higher premiums. Things are worse than they were before. The overall insurance system is flawed in fundamental ways. We are spending time and money to make a bad system work better and that is probably what will happen in the near term.

There needs to be consequences for individuals that do not take care of themselves.             They can subsidize the government insurance by paying the government a higher premium; pay for care themselves or do nothing. For those that do nothing, laws need to be changed so that care would only be provided at charity hospitals. I know this is a radical change of thinking but i believe it would go a long way to improving public health. Subsidizing unhealthy behavior only leads to more unhealthy behavior.

November Is Health Coverage Selection Month; Which One Is Best?

Time To Choose Health Insurance

November 3, 2020 – Is it possible to get good health insurance coverage in 2021 and save money on treatments, prescription drugs and the policy too? The answer according to Dr. Steven Goldstein, founder of the Houston Healthcare Initiative and respected neurologist, is yes. On his regular podcast Dr. Goldstein, describes how this could work. The Houston Healthcare Initiative podcast is heard on SoundCloud, Libsyn, iHeart Radio, Apple Podcasts, Spotify, Stitcher, Pod Cast Addict, Back Tracks and the Houston Healthcare Initiative web site.

The Virtues of Catastrophic Policies

So called ‘catastrophic’ health insurance policies come with high deductibles and limited coverage for office visits, tests or prescription drugs. These may be the perfect way to remain insured and provide an outlet for savings and that is to pay cash and ignore the deductible. “When people pay cash, they will be charged less than what the insurance company has to pay on the same claim,” Dr. Goldstein told his listeners. “Many doctors and specialists actually prefer cash which is why they usually charge less.”

Does This Apply To The Deductible?

When paying cash and the lower price offered for it, does this apply to the annual deductible amount? “No, the cash price will not apply, but for most who will never meet the deductible amount, it really does not make any difference,” Dr. Goldstein said. “Remember the reason for buying catastrophic insurance, it is in case of a catastrophe. Even if in one year you would’ve met the deductible otherwise, the money you save in other years will more than make up for it.”

About the Houston Healthcare Initiative

Dr. Steven Goldstein is a Houston based neurologist. He founded the Houston Healthcare Initiative and is an advocate for common sense solutions to the healthcare crisis that confronts the citizens and residents of the United States of America.

November Is Health Coverage Selection Month; Which One Is Best?

Time To Choose Health Insurance

How can anyone know what the best choice is? November Is Health Coverage Selection Month; Which health insurance option is best?

Is it possible to get good health insurance coverage in 2021 and save money on treatments, prescription drugs and the policy too? The answer according to Dr. Steven Goldstein, founder of the Houston Healthcare Initiative and respected neurologist, is yes. On his regular podcast Dr. Goldstein, describes how this could work. The Houston Healthcare Initiative podcast is heard on SoundCloud, Libsyn, iHeart Radio, Apple Podcasts, Spotify, Stitcher, Pod Cast Addict, Back Tracks and the Houston Healthcare Initiative web site.

But, which health insurance option is best? The calendar, the traditional postal mail and email flooding into our respective boxes tells us all that it is time to make selections for health insurance coverage for 2021. What is different this year? and of course, Which health insurance option is best? One major change is that there are fewer choices for health insurance coverage in major population centers. Fewer choices for insurance coverage will mean that insurance companies will have even more influence on what is covered and how much they will pay on patient claims. Fewer choices mean less competition and less competition means the marketplace will have limited influence. For those who want alternatives to traditional health insurance, are there any and what are they? Find out by listening to the podcast here.

Off Label Prescriptions Removed From The Table Overly Zealous Watchdogs Interfere with Patients and their Doctors

Off Label Prescriptions Removed From The Table….

Overly Zealous Watchdogs Interfere with Patients and their Doctors

October 1, 2020 – Does a physician or the pharmacist know what is best for a patient? When the Ohio

Off Label Prescriptions Removed From The Table….  Overly Zealous Watchdogs Interfere with Patients and their Doctors   October 1, 2020 – Does a physician or the pharmacist know what is best for a patient? When the Ohio Board of Pharmacy ruled that doctors could not prescribe the off-label treatment hydroxychloroquine to treat the Coronavirus/Covid-19 pandemic it was a chilling trespass into the rights of people in Ohio and set a dangerous precedent in the other forty nine.  Medicines to treat conditions with off-label prescribing occurs when a physician stipulates a drug that the U.S. Food and Drug Administration (FDA) has approved to treat a condition different than what a patient has. Off label prescribing is nothing new.   Unanticipated Consequences of Overly Aggressive Regulators This practice is legal and common as one in five prescriptions written today are for off-label use. The Ohio Board of Pharmacy decision was without precedent. Americans should be nervous about this instance because it puts the relationships between doctors and patients at risk and removes the judgement of physicians about how to best treat their patients, putting it into the hands of government regulators. “This overreach is a present and future danger for Americans and their doctors in the wake of the Coronavirus/Covid-19 pandemic,” Dr. Steven Goldstein told the audience on his podcast. “This puts decision making about how best to treat a patient into the hands of someone who does not know the individual, never mind has any medical experience with them.”  The Future Beyond Covid-19 The prospect that someone other than the doctor and patient are involved in this decision making is bad practice. “Doctors are trained and educated to diagnose and treat patients”, Dr. Goldstein said. “They also have experience treating their patients and know how to evaluate scientific papers about new treatments. Pharmacists and government bureaucrats do not have this training or experience.”   In the case of hydroxychloroquine there is no randomized controlled trial to prove scientifically whether or not this drug is effective for Covid-19. It is also true that there is no other treatment that has been proven with a randomized controlled trial to be effective. “Physicians should be able to use any treatment that may be beneficial to their patient,” Dr. Goldstein said. “Interference by government boards or other non-physicians will retard the development of effective treatments and lead to additional mortality and morbidity.” The next outbreak is a certainty, it’s only a matter of time. “If pharmacists and bureaucrats are getting between doctors and patients now, we should be very worried about the future,” Dr. Goldstein concluded.  About the Houston Healthcare Initiative Podcast The Houston Healthcare Initiative podcast with Dr. Steven Goldstein is an information vehicle for people who want to know all medical options for themselves and are interested in reforming the healthcare industry. To hear the podcast go to: SoundCloud, iHeartRadio, Stitcher, Backtracks, LibSyn, or the website at www.houstonhealthcareinitiative.org. Dr. Goldstein insists that for the health and welfare of the American public, the congress must pass reforms that limit the influence of the pharmaceutical industry and its lobby.
Overly Zealous Watchdogs Interfere with Patients and their Doctors.

Board of Pharmacy ruled that doctors could not prescribe the off-label treatment hydroxychloroquine to treat the Coronavirus/Covid-19 pandemic it was a chilling trespass into the rights of people in Ohio and set a dangerous precedent in the other forty nine.  Medicines to treat conditions with off-label prescribing occurs when a physician stipulates a drug that the U.S. Food and Drug Administration (FDA) has approved to treat a condition different than what a patient has. Off label prescribing is nothing new

Unanticipated Consequences of Overly Aggressive Regulators

This practice is legal and common as one in five prescriptions written today are for off-label use. The Ohio Board of Pharmacy decision was without precedent. Americans should be nervous about this instance because it puts the relationships between doctors and patients at risk and removes the judgement of physicians about how to best treat their patients, putting it into the hands of government regulators. “This overreach is a present and future danger for Americans and their doctors in the wake of the Coronavirus/Covid-19 pandemic,” Dr. Steven Goldstein told the audience on his podcast. “This puts decision making about how best to treat a patient into the hands of someone who does not know the individual, never mind has any medical experience with them.”

The Future Beyond Covid-19

The prospect that someone other than the doctor and patient are involved in this decision making is bad practice. “Doctors are trained and educated to diagnose and treat patients”, Dr. Goldstein said. “They also have experience treating their patients and know how to evaluate scientific papers about new treatments. Pharmacists and government bureaucrats do not have this training or experience.

In the case of hydroxychloroquine there is no randomized controlled trial to prove scientifically whether or not this drug is effective for Covid-19. It is also true that there is no other treatment that has been proven with a randomized controlled trial to be effective. “Physicians should be able to use any treatment that may be beneficial to their patient,” Dr. Goldstein said. “Interference by government boards or other non-physicians will retard the development of effective treatments and lead to additional mortality and morbidity.” The next outbreak is a certainty, it’s only a matter of time. “If pharmacists and bureaucrats are getting between doctors and patients now, we should be very worried about the future,” Dr. Goldstein concluded.

About the Houston Healthcare Initiative Podcast

The Houston Healthcare Initiative podcast with Dr. Steven Goldstein is an information vehicle for people who want to know all medical options for themselves and are interested in reforming the healthcare industry. To hear the podcast go to: SoundCloud, iHeartRadio, Stitcher, Backtracks, LibSyn, or the website at www.houstonhealthcareinitiative.org. Dr. Goldstein insists that for the health and welfare of the American public, the congress must pass reforms that limit the influence of the pharmaceutical industry and its lobby.

 

 

Best Selling Author Gerald Posner Discusses ‘Pharma: Greed Lies and Poisoning of America’

Gerald Posner on the podcast this week.
Gerald Posner latest work is “Pharma: Greed, Lies, and the Poisoning of America.” This book describes something we here are all very interest in which is the history of the pharmaceutical manufacturing industry.

In a special edition of the Houston Healthcare Initiative podcast best-selling author and investigative journalist Gerald Posner discusses the sordid history of the drug business from his most recent work, ‘Pharma: Greed Lies and the Poisoning of America.’ It reads like a ‘true crime’ novel, though everything in the volume is true. ‘Pharma: Greed Lies and the Poisoning of America’ is available at Amazon, just click here: ‘Pharma: Greed Lies and the Poisoning of America.’

The Houston Healthcare Initiative podcast can be heard on SoundCloud, iTunes, iHeartRadio, LibSyn, Spotify, and the Houston Healthcare Initiative web site. In the book and podcast Posner tells a compelling story that links the history of the pharmaceutical industry from the mid-19th century to the twenty first. It is not a flattering narrative. Many of the practices that were incorporated into marketing and selling heroin and cocaine in the early 20th century were and are still used today. And like they did before, the same companies are deliberately downplaying of the risk of modern-day medicines like opioids that have led to addiction and death for so many Americans.

Interests Intersect

Mr. Posner’s work and the interests of the Houston Healthcare Initiative coincide in several important ways. “The reform of the entire healthcare industry including the pharmaceutical business is our mission,” said Dr. Steven Goldstein who founded the Houston Healthcare Initiative. “We were very flattered he took time to talk with us and the audience about this important topic and we hope that everyone who reads his new book is inspired to act.”

Profits, Then Everything Else

Marketing, sales, advertising and abuse of patent law are all used against the American public to boost sales and stock prices of drug companies. This is part of the historic heritage that links the business’ past to today. “Only by knowing its history,” Mr. Posner writes, “is it possible to fully appreciate how the battle between noble ambitions and greed is a permanent conflict.” Mr. Posner tells many stories about the people behind the industry and the some of the ethically questionable things they did and still do.

Meet the Sacklers

The mindset of these and other actors id’ed in the book can be better understood with one of many informative stories Mr. Posner relates. According to Mr. Posner, eight people in a single family ‘made the choices that caused much of the opioid epidemic.’ The family in question is the Sacklers, notably Arthur, who “had some clever ideas of how to disguise product promotions as ‘news’ covered in consumer press.” According to media experts, the ad made to look like news or ‘advertorial’ is a really low rung on either the paid ad or public relations ladder.

Nazis? Really?

Mr. Posner detailed this during his interview on the podcast. “In 1947, defense attorneys for Nazi doctors charged with war crimes for human experimentation at concentration camps cited the malaria experiments in a failed effort for an acquittal. He went on, “when Nazi doctors are citing clinical trials from your industry as grounds for an acquittal in their own legal trials, you have erred.”

To learn more about Gerald Posner visit his web site at https://www.posner.com/.

About Houston Healthcare Initiative And Dr. Steven Goldstein

Dr. Steven Goldstein is a Houston based neurologist. He founded the Houston Healthcare Initiative and is an advocate for common sense solutions to the healthcare crisis that confronts the citizens and residents of the United States of America.

 

 

 

A Retracted Article Drove Misunderstanding of Hydroxychloroquine

A Retracted Article Drove Misunderstanding Hydroxychloroquine

A Retracted Article Drove Misunderstanding of Hydroxychloroquine. No one can unring a bell. When articles published in the Lancet and the New England Journal of Medicine published and then retracted an article critical about the possible use of hydroxychloriquine as a treatment for Coronavirus/Covid-19 they may have shown good faith with the retractions but the damage was done. On his regular podcast, Dr. Steven Goldstein discusses how and why the use of an inexpensive drug was widely criticized. An article from Tablet magazine (Hydroxychloroquine: A Morality Tale) describes the issue in detail.

The criticisms were based on the retracted articles, but there was more to it. Political agendas and money both added to the manufactured confusion about a drug that was used to treat malaria, lupus and others without controversy. Dr. Goldstein believes that reforms for government and the pharmaceutical manufacturing industry were never more obvious than in this example. A Retracted Article Drove Misunderstanding of Hydroxychloroquine.

Court Rules Against the Hospital Industry Mandates Price Disclosure

Court Rules Against the Hospital Industry Mandates Price Disclosure. Hospital prices that were historically rigged by the medical business along with the insurance industry, and kept secret from the public, will see the light of day January 1, 2021. This because on June 23, 2020 a federal judge in Washington D.C. dismissed a suit brought by the American Hospital Association (AHA) that challenged the Department of Health and Human Services rule mandating hospitals to disclose their privately negotiated prices with health insurance companies.  This ruling, and what it means for doctors, patients and the industry, is the subject of the latest edition of the Houston Healthcare Initiative podcast. The Houston Healthcare Initiative podcast can be heard on SoundCloud, iTunes, iHeart, Spotify and on the Houston Healthcare Initiative website.

Court Ruling Allows Transparency

Hospital Price Transparency
Court Rules Against the Hospital Industry & Mandates Price Disclosure.

The court ruled that an executive order from the Trump administration requiring hospitals to disclose pricing was legal. A federal judge upheld a policy that requires hospitals and health insurers to publish their negotiated prices for health services, numbers that are typically kept secret. The policy is part of a major push by the Trump administration to improve transparency in health care. Insurers and health providers usually negotiate deals behind closed doors, and patients rarely know the cost of services until after the fact.

Healthcare Industry Public Relations Offensive

The meaning of the ruling and what will happen are different. As Dr. Goldstein told his audience, “there will be an appeal accompanied by a full court public relations press by the hospital industry to derail this effort.” Dr. Goldstein went on to say, “if the battle can be dragged out until after the presidential election, hospitals and insurance companies can hope a new administration will rescind the executive order.”

Four organizations are now urging the Department of Health and Human Services to delay implementation of the price transparency rule until after the appeals court makes a decision in the case. The American Hospital Association, the Federation of American Hospitals, the Association of American Medical Colleges and the Children’s Hospital Association made their request in a letter to HHS Secretary Alex Azar on June 29, five days after these associations and others filed an appeal against the ruling which would implement a rule on price transparency on January first. The groups said the rule would ‘pose a burden to hospitals and health systems responding to the COVID-19 public health emergency.’ Thirty-four hospital groups have already urged HHS to delay the start of the price disclosure.

In an article published in “Becker Hospital Review” AHA General Counsel Melinda Hatton said, “the proposal does nothing to help patients understand their out-of-pocket costs.” She added, “it also imposes significant burdens on hospitals at a time when resources are stretched thin and need to be devoted to patient care. Hospitals and health systems have consistently supported efforts to provide patients with information about the costs of their medical care. This is not the right way to achieve this important goal.”

About The Houston Healthcare Initiative

Dr. Steven Goldstein is a Houston based neurologist. He founded the Houston Healthcare Initiative and is an advocate for common sense solutions to the healthcare crisis that confronts the citizens and residents of the United States of America. Court Rules Against the Hospital Industry Mandates Price Disclosure.

What The Court Ruled About Hospital Price Transparency

This week on the Houston Healthcare Initiative podcast, Dr. Steven Goldstein takes a deeper dive into a court decision where hospitals must reveal private negotiated rates with insurers starting this coming January 1, 2021. Plus, he will provide more insight into how hospitals decide what and how much to charge us, and man is that a story. It’s all more than a little complex. The podcast is available on all the popular podcast networks including SoundCloud, iHeart, and Spotify among others.

How Are Prices Now Assessed

Hospital prices are not based on the free market. Instead, prices are agreed on via secret agreements between hospitals and insurance companies. The truth is that pricing for medical services as paid by insurance companies are artificially set and not competitive at all. Prices are agreed to in advance by the hospital and the insurance company, not disclosed to the public. “We are led to believe that our insurance providers negotiate on behalf of their policyholders,” Dr. Goldstein told his audience. This is not the case. The court has ruled that this will no longer be permitted, that hospitals will have to reveal these negotiated rates and thus hospitals must reveal private negotiated rates .

Hospitals must reveal private negotiated rates to the public.
Hospitals must reveal private negotiated rates to the public.The court ruling that upheld a Trump Administration policy that forces hospitals to reveal their prices.

Why Hospitals Object

One reason many hospitals do not list their actual prices is that, according to them, some cases are more complicated than others. “An appendectomy may go smoothly or may be complicated by other factors such as adhesions from a previous surgery that caused scarring,” Dr. Goldstein said. “This may require additional operating room time resulting in a higher cost.  Thus hospitals claim they can only give estimates.”

Alternatively, this could be handled in one of two ways. 1). Publish the price for each procedure at what the hospital perceives as the average price. Then find ways to cut costs so that average cost is lowered resulting in increased profit for the hospital.  2). Alternatively, publish a price for operating room time by the hour that would include all the ancillary charges + publish the range of operating room times for each procedure.

How Prices Are Set Now

With the use of computer technology, hospitals are able to establish a charge for each product or service, no matter how small. “Every aspirin, every blood test, every x-ray, every bandage, every suture has a charge; Dr. Goldstein said. “Some of these charges beg credulity e.g. the $20 aspirin. All these charges are added up to give the total hospital charge. Of course, this doesn’t include multiple physician charges that are separate.” This all resulted in the Trump administration’s order that hospitals must reveal private negotiated rates to the public.

But the final charge is the “sticker price”. The insurance companies never pay this price. They have a secret, negotiated price based on the Medicare price for those services.

Why Healthcare Insurance & Hospitals Do Not Want You To Know About Pricing

Medical Price Transparency
Why Healthcare Insurance & Hospitals Do Not Want You To Know About Pricing

Transparency and the need for it in different industries is a word and requirement we hear a lot about. It should not surprise anyone that some insurers and hospital groups are working to block the implementation of federal rules that make hospital pricing transparent. They argue these will confuse consumers and potentially lead to higher costs. But there is good news. According to the New York Times, a federal judge has upheld a Trump administration policy that requires hospitals and health insurers to publish their negotiated prices for health services, numbers that are typically kept secret.

Most of us have our health insurance provided by our employers and we do not pay as much attention to the price of medical care as we do the cost of other consumer items. But maybe we should pay more attention? The fact that the charges for our visits to the doctor, hospital and pharmacist are mostly paid for by our insurance does not make us any less likely to get both overcharged and underserved. In fact, it is a lack of transparency that makes medical costs so high.

The issue is that patients do not know the actual price of services. The list price is the price charged to patients without insurance. Each Insurance company negotiates a discounted price. Thus there are multiple discounted prices depending on the insurance company plus a different price for Medicare and Medicaid. These prices have traditionally been secret. There is no competition between hospitals based on price. Medicare sets the price standard based on costs. Thus, hospitals are cost plus operations with little incentive to reduce costs.

Learn more by listening to the podcast.