Nov 21, 2018
We can all agree - outside of a few
overpaid pharma CEOs - that the American Health Care system is too
expensive. In fact, one could argue that the system of delivering
health care in America is designed to cost the most possible
without any parts that can check its growth. If you were to try and
design a more costly and inefficient system I dare say you would be
As I discuss with the author of Overcharged: Why Americans
Pay So Much for Health Care, Professor David Hyman describes a
system of incentives that seem aligned solely to increase the cost
of care to patients and reimbursement of those delivering the care.
From pharmaceutical companies, hospitals, physicians, and insurance
companies there are no friends to be found for the consumers. And
before anyone looks to Washington, D.C. or state capitols for
relief, think again because those monopoly powers originate in
those ivory hallways paid for with health care special interest
The problems identified in the book are:
- Political Control of Health Care Spending
- 3rd Party Payors
- Prices too high
- Quality is perceived by everyone delivering care as above
- Opaque prices
There are four lessons learned and extrapolated on in the
1) The system is full of good people but good people can't fix
a bad system
2) If the bottom leads, the top will follow (only consumers
can drive innovation)
3) To beat the system you have to leave the system
4) Better health care thru self-pay
We discussed these concepts in depth throughout the show and
also delved into the solutions to save our system from consuming
our entire GDP. Already, health care consumes so much money that
budgetary problems are springing up from DC down to city hall.
Fortunately, Overcharged describes the diagnoses and the
David Hyman is the co-author of
Overcharged and a law professor at Georgetown University.
Overcharged - The Official
Website: The official website for David Hyman's book.
Free chapters to read and video links with the authors.
Episode 005 My discussion with Dr.
Marion Mass regarding the huge prices of pharmaceuticals and why
there are shortages.
Memorial for Andy
Larson: This is the donation link to honor Andy's death with
the Grand Rapids Choir of Men and Boys where he blossomed and
served as a head chorister.
YouTube for Paradocs: Here you
can watch the video of my late son singing his solo on the Paradocs
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