🏥 Why is US health care system so expensive? | Why are medical bills so high?
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- Опубліковано 20 бер 2019
- Why is US healthcare system so expensive? Why are medical bills so high? Do private health insurance providers in the United States drive up a prices of health insurance to gain more profits? We show a history of health care policy, which drove up the cost of the american health-care. We also talk about Affordable Care Act (Obamacare) to find out, if that bil solved the problem of high cost of health insurance.
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One of the best pieces of research done on the US healthcare market. Recently watched a Vox video on why healthcare is so expensive in the US. The conclusion was that it is expensive because companies can make it expensive and that we should regulate prices to make it illegal for them to make it expensive. Such intellectual laziness
Can I like this more than once?
This is what systems with universal healthcare do, legislate so that pharmaceutical companies can't charge the earth.
@@djlads Sure, government can force prices artificially low, but that doesn't magically create more resources for consumption. This is why every universal healthcare system eventually has to ration care.
@@Jekyll_Island_Creatures the only care rationed is that that deals with enhancing your looks, life saving care is covered.
Vox is just a terrible leftist propaganda channel.
The USA does not have a health care system. It has a health insurance industry. To say that the health insurance industry is a health care system is akin to saying that your auto insurance is your car care system.
Your ignorance of the benefits of insurance is mystical. Insurance allows people to pay for med.
@@TeaParty1776 if there were never any insurance to begin with. Rates would be reasonable enough for average joes to pay. Or the doctors would not have business. Health insurance, car insurance, home insurance, fire insurance, property insurance, business insurance, flood insurance, the list goes on. If these were not around you would actually have to be responsible but who wants that? Like a 401k Give me 20 dollars a week and when your 65 I'll give you 60 dollars a month. Or you could just be responsible and have 80 dollars a month.
@@codymoreland4496 What are you talking about?!
@@TeaParty1776 we shouldn't have full ass health "coverage". Its stupid. You have car insurance for crashes and major stuff, but you dont have car insurance for typical things like oil changes, tune ups, etc.
The solution is direct primary care for our typical needs, and then catastrophic health insurance for the major things. full coverage is just strange and we only accept it as truth cause "thats the way its been." but before all this, we had a pretty well functioning system.
PUBLIC CITIZEN - 1600 20th Street, N.W. Washington DC 20009 - Public Citizen in Washington D.C. said: “By eliminating the health insurance industry, we save $350 billion a year in administrative costs and profits.” - eq. It means 3 trillion and half in 10 years -
I'm done dealing with American healthcare. All these robots, waiting on the phone for hours... wasting my life. The government, insurance, and healthcare providers keep juggling you between them like you're some kind of a circus ball. All these representatives who make it sound like it's your fault. Weird surcharges and backed up taxes... Just what the hell?! It's a broken system within a broken system. It has caused me so much stress and burned up so much of my time and focus. I'M DONE!
There are so many ways to move overseas.
@@shopamama Not really, the only way to get into a country that offers a decent living is to have a high level of skill with a tremendous amount of schooling. That costs alot of money in America.
If 1% (of oligarchy) wants a luxury treatment plan, go ahead with what they need, 99% American people just want Medicare for all plan or system. Hypocrites in politics could not know how many Universal healthcare systems (UHS) there have been in the world? Over 100 UHS…
Hey, moron! Med and med insurance is govt-regulated.
I catered at a private party for Stanford healthcare couple years back . All the “healthcare workers” dressed and carried themselves more like shrewd businessmen than humane doctors.
Believe me, they are living COMFORTABLY.
So basically healthcare used to be more affordable, healthcare professionals got policies put in that allowed them to charge higher prices, and now when prices go higher our solution is to subsidize it with tax money?
No, the solution is injecting the free market back into medicine.
Here's Dr. Josh Umbehr describing his free market medical practice.
ua-cam.com/video/bGZaRnC1wNg/v-deo.html
Use more pa and nurse practitioners. Insist on price transparency. Employers need to phase out insurance. So they give the employer money and then they buy insurance.
Many medical schools strictly admit top 5 percent candidates. Not sure how top 10 percent any different than top 5 percent. Medical interest groups intentionally reduce supply of physicians
The problem is the lack of enough Residency slots.
Back in the early 1990's, I was trying to persuade people to go back to paying cash to their medical practioner, and dump the insurance companies. Even back then, the ins. companies dictated what services and care you were allowed to have thru them. That's not choice.
What about now? For example- Say your a young person who is healthy- would it better for them to save all the cash overtime? Or however get an insurance plan with no deductible and high premium?
You need to think harder about how random chance works. We're not talking about a thousand people each needing $500 worth of treatment. We're talking about a thousand people playing russian roulette: ONE of those people, chosen at random, will need $500,000 worth of treatment, and none of us knows in advance who it will be. There are risk factors, but sometimes life is just fucking random. Sometimes your luck just runs out. When that happens, do you want society to cast you out to die, or do you want your fellow human beings to chip in a little to save your life, knowing it might be one of them next time? Which one makes more sense?
wait insurance companies are new?
@@kevinmathewson4272 Yes. Agree. This same scenario can be applied to other things as well. Some times rescue operations might cost millions (rescue from mine accident, military rescue etc.) Some might say that it is nonsense to rescue one person, with same money you can help tens/hundreds of people. But that kind of thinking would deteriorate moral. Who would work in mines or in military operations if you know that no one comes to your rescue if accident happens. You have to help people. Selfish thinking is very weird and shortsighted.
The best health care system is when a patient is having a peace of mind from debt and medical bills after a surgery or from multiple visit from a specialist doctor. That alone will save the patient from stress and depression.
Which is what you'd have if you didn't have government involved in healthcare and had private medical insurance, who'd be busy with all that and paying for everything while the patient doesn't sweat it. Also would make everything far cheaper even without it.
@@mkzhero You know that is massive BS what you are peddling here. You know what you're doing and saying.
Everybody knows about GoFundMe campaigns for people's (excellent) insurance is maxed out because of disease or accident. Or people's stripped down health insurance (all they could afford).
Or surprise billing, medical bankruptcies, on and on it goes, etc...all of this while they're going through the stress of a serious health care situation.
Stress is a killer and slows healing. And when anyone is trying to heal and rest from a serious disease or accident, the last thing they need is any kind of stress.
..
@@8sun52 you talking common or private? There's far less problems with private health insurance, and even calling THOSE "private" is a stretch since they ARE involved with the medical system which is pretty much fully government regulated and controlled, you could even say government owned at this point. Which also massively boosts the prices. "You have disease x and want pills for it? Too bad, we don't approve of the drug that's used to treat it in other countries and is perfectly safe, use this approved one instead, it costs literally TENS to HUNDREDS of TIMES more, but it's worth it, trust us, it's for your safety! What do you mean you don't have the money for that? Well guess you'll die, safety first!" "What do you mean you want to build more hospitals and hire more doctors to shorten wait times and lower costs? You first need to PROVE they're needed to the board of directors! Who are they? Too doctors who don't want competition and their pay cut of course~... What do you mean it's not fair? They have rights and union shilling behind them, you don't, so buzz off"... The government is a cancer that seeks to grow and spread to every field of our lives, and it already did for the most part, and whatever the government touches becomes shit. All these inefficiencies and problems around you? Look at most of it long and deep enough and you'll see it can, or even preciously WAS done better, until the government got involved, or with the government and it's various structures (unions and government offices included) preventing innovation. Healthcare and doctors used to be, and CAN be dirt cheap you know. ua-cam.com/video/fFoXyFmmGBQ/v-deo.html
@@mkzhero
Been busy. Meant to reply earlier than this.
OPENING COMMENT:
The US ethically and morally perverted healthcare non-system has been normalized.
Health insurance companies of the US and big pharma has effectively normalized the ethically and morally perverted US healthcare non-system so that many Americans walk around not understanding what's really going on. Confused and demoralized. it's just disgusting.
The health insurance industry and big Pharma have a very underhanded campaign, and part of it is always pointing fingers at universal health care countrie's imperfections (and nothing's perfect) to scare and confuse Americans.
But so many Americans see through this charade, scam, whatever you want to call it.
You anti-government fanatics should just search all the great things government does:
Libraries, National Parks, Police, Fire, Family Medical Leave Act, banking regulation, assistance to artists and musicians to maintain and preserve American culture, copyright office, federal deposit insurance to protect bank accounts, The National Park Service maintains several thousand miles of hiking trails for visitors, the US army Corps of Engineers helps maintains ports, harbors, and navigation channels... the list goes on and on.
Yeah, Wall Street parasites would like to get a hold of this too and make some good money from it.
To Continue:
Look, first of all, every industrialized country gets more out of their healthcare budget than the US. And their healthcare indicators are better. They have much more to show for it.
Healthcare should not be in the commodities and privilege column, it should be in the public necessity and service and basic human decency column. Industrialized countries (and less wealthy countries too) get it.
And don't conflate health care tourism to this country for treatment, with universal health care.
They have nothing to do with each other. It's a myth and a very cheap distraction. It's not any reason to forgo universal health care in the US. Besides, medical tourism to European countries goes on too.
The free market system didn't or wouldn't solve the problem of indigent seniors who worked their whole lives and had no financial security at all in the good old US of A. So Social Security was implemented. Where was the free market system to address this, ha???
Similarly regarding Medicare. Where was the free market system to cover senior's healthcare?
However, the Wall Street/health insurance industry parasites want to take advantage of any finacial shortfalls to move in and privatize SS and Medicare. Big money for Wall Street low lifers.
The UNITED STATES open free market system has done a miserable job of covering every American with comprehensive, affordable health care regardless of their financial status or zip code.
The US healthcare non-system is extremely expensive, extremely fragmented, extremely bureaucratic and inefficient and linked to employment to name some huge shortfalls.
Thousands of stories of people who can't shift to a new company for various reasons because of their health care insurance they need. Just to name one demented feature of employment-based health insurance.
Employment-based insurance depresses the wages of workers especially for small businesses because of the high price employers have to pay insurance companies.
Unions at the bargaining table have to contribute more and more into their health insurance plan.
But the politicians in Washington DC (too many sellout democrats and most Republicans) frantically oppose universal healthcare (Socialism! Oh no! Socialism!) blah, blah, blah. But they get their comprehensive and affordable health care with OUR taxpayer money. They're ethical and moral perverts, these politicians.
In this regard, we have a government of, by, and for the health insurance industry and big pharma. They own most of the politicians in Washington DC.
This is a grotesque perversion of everything America is supposed to stand for.
Germany spends about 30% more per person than the UK's NHS system. Germany has many health insurance non-profit companies (if you can call them that) which compete with each other for people. it also has some other payment mechanisms too. The United Kingdom's NHS has a very, very minor role of individual health insurance companies. (virtually no private insurance companies. 30% less expensive per person than Germany's who has nonprofit health insurance "companies". Let that sink in.) However, in spite of spending about 30% more per person, Germany's healthcare system does an admirable job of covering all its citizens and most Germans are happy with it. It is a little bit expensive but it is humane. The German universal healthcare system dates back to the late 1800s. It's the oldest universal Health Care system in the world. It is more complicated than the NHS, however much more cost-effective, efficient, and humane than the US healthcare non-system.
The US ratio of GP doctors to specialists is too low. But many graduating Med students go into specialties to pay for their huge MD education costs. Catching underline health conditions early is key. Some doctor/patient counseling and advisement is also key.
Canada and the UK pay for med student's education.
Improved and enhanced Medicare for All will also more adequately address the doctor shortfall in the US.
The Canadian and NHS systems, to name a few, address underline problems (not always immediately to be fair) because it's in the public domain and people have more of a say in improving it.
Regarding hospitals, there is redundancy in areas of the country regarding the number of hospitals, while hospitals are closing in many rural areas.
And check out the problem with investor-owned hospitals that "create more efficiencies".
Pharmaceuticals to treat diseases? If you're talking specifically about cancer drugs, a lot of that is very speculative and the review process in universal health care countries is to avoid blowing taxpayer's money on pharmaceuticals that are very expensive, haven't really proved their efficacy and/or could be dangerous. They are looking out for their citizen's taxpayer money and their budget.
I preface my remarks below on pharmaceuticals, with the fact that unhealthy diets and lifestyle habits are a big contributor towards diseases and various ailments. There are experts way ahead of their time (decades ago too) who were/are reversing diabetes and end stage cancer through lifestyle change and diet change alone and that's a fact.
The established pharmaceutical medical intervention establishment stifles and smears these true pioneers of disease reversal. However, things are changing a little bit, in this regard.
Needless to say there are pharmaceuticals that do assist people with managing their disease. However, it is not addressing the underlying cause. It is just treating the symptoms.
But it does keep patience alive and living a life but at a cost of possible side effects etc.
If you want to talk about availability of pharmaceuticals in other countries, let's look at availability to Americans. Millions of true stories of Americans who have to forgo certain drugs or skip the daily regime or die because they can't afford it etc...
In the great US of A.
France has controlled pharmaceutical prices without hindering innovation.
You can go down the line of countries with universal health care to see how they control the prices.
lmproved and enhanced Medicare for all pools the risk across the entire working population of the USA consequently dropping the price dramatically.
Medicare is used as a model because it's already set up and been operating for decades. We don't have to build and design a new way of financing healthcare. Medicare runs at about a 4% overhead compared to the typical health insurance company of about 15% to 20% overhead.
Seniors that have their pension plan and/or 401ks etc. pay for the Part A hospital deductibles and Part B premium, are very happy with original Medicare. They've always been. No networks no referrals. (Except, there could be problems directly seeing a specialist who doesn't accept Medicare patients or is not Medicare approved.) But most seniors understand this is easily navigated around with a simple phone call.
Check out the salaries of health insurance company CEOs. Just check that out and then think about that the next time you're stuck with a deductible or coinsurance on top of the vulgarly high premium you're already paying, or your employer is already paying. Just let that sink in.
Health insurance CEOs and Wall Street constantly devise ways to squeeze more money out of us, through our health care plans.
Health insurance company trolls on UA-cam, like a broken record, ask: How are we going to pay for it? (improved and enhanced Medicare for All). Yet somehow, we can pay for these vulgar CEO salaries and that's okay by the "trolls". Oh, we can pay for that, ha???
I used to be in contact with people from industrialized countries of the world. They would never adopt the US healthcare non-system.
They know better.
The great US of A can do so many things very well, but gosh, we just can't seem to cover our citizens with comprehensive and affordable Health Care. Oh my, we're completely stumped by this one.
V
@@8sun52 did you watch the video I linked? Again, friendly societies WORKED, and where incredibly cheap, healthcare used to cost far cheaper in general too, even private, so you wouldn't even need much savings to have enough for your healthcare, even in old age, not to mention government eats through your savings, both private and collective ones like pensions and medical/insurance based one slike a rabid child through candy with money printing and inflation, what do you think the national debt is about?
"Other countries make it work". Yeah, it works there, somewhat. How though? You people fail to see the ponzy scheme like nature of every government 'service'. It makes everything it touches less efficient, stagnant so it falls off due to lack of innovation and increasingly costly via licences that are tied to government hooked corporations, which, like your beloved wallstreet wouldn't even be possible without heavy government involvement, subsidies and protections.
It also "works" as well as a loan from the mafia, you have money at first,sure, might even look like you're doing well, but then the bill comes and you never finish paying for it. Except things to do with the government are inter generational, so you fail to see it. Take Japan for example. It has one of them supposedly 'great' healthcare systems, alomg with other 'free' social goodies.
How did it play out in the long term and overtime though, hmm? First generation or two reaps the benefits, lives a little longer and is healthier. Next generation gets the bill, but wants the same. Next generation gets TWO bills and wants the same. Next generation gets three, and so it goes, up to four-five generations.
But it forgets that people, like any caged animal, doesn't breed well in captivity. The increasingly crippling taxation needed to pay for all that shit makes having children both unappealing, and in case of Japan, financially impossible, and so you get EVEN LESS people that need to pay for all that. And of said people many get depressed and either suicidal, or so frustrated with their society they simply fall out or CHOOSE to fall out.
And so you get to where Japan is, almost 300% debt to GDP, and a fertility rate so low they're estimated to lose HALF the population in half a century. And you understand that being the ponzy scheme it is, at some point when there's longer enough people to pay for this prior generation health insurance and social services, the whole said system either collapses, or has to close anyway, which will have catastrophic consequences for everyone, right?
The same exact thing will happen to all the socialist poster child countries where public health insurance and social services are declared to work, they're just a generation or two behind Japan. It's just looking at things for which the time frame is 100~ years through a lense that's only big enough to cover a span of 10-30 years, like saying you're rich while being unemployed or employed part time because you took a massive loan.
I'd be all for these systems if they actually had the possibility to work in the long term, and I was a government trusting socialist myself at some point, but it's just mathematically and realistically impossible, unless you ignore half the important factors that have to do with it and only look at short or at best mid term consequences. But when you look at it long term, you'll only see the government driving the country to collapse at best, and doing the same while impoverishing the poor and middle class, and at the same time enriching itself, the rich and other countries (how do you think the dictatorial shithole called China became wealthy?).
"Of all the forms of inequality, injustice in healthcare is the most shocking and inhumane." - Dr. Martin Luther King Jr's 1966 speech to the Medical Committee for Human Rights.
The biggest problem with the healthcare debate is the confusion of "US healthcare" with "the ultimate private system without flaw."
People claim to debate "public vs. private" when they're ACTUALLY debating "public vs American." These are not the same.
PUBLIC CITIZEN - 1600 20th Street, N.W. Washington DC 20009 - Public Citizen in Washington D.C. said: “By eliminating the health insurance industry, we save $350 billion a year in administrative costs and profits.” (e.q.)
Note, doing it your way would lead to many people not being able to pay for their costs, namely the old, poor, sick, unwise, and unlucky. To get by you would have to be rich, young, wise, lucky, and very healthy.
Baseless BS! The free market is the most efficient provider. It's obvious you didn't even watch the vid.
If you are young and get health insurance the terms would continue when you are old and sick. So you pay a mucher cheaper rate over your lifetime, becuase you are subsidizing your own future health cost. That is an efficient system.
As someone who has a future in working in the medical field i feel a sense if guilt to be working under this and wish there was something i could for my future patients regarding not being able to afford insurance :/
Open a hospital that charges reasonable prices and doesn’t take insurance.
There is a better way. Look into Dr. Josh Umbehr's free market medical practice and how affordable it is while simultaneously providing higher quality care (he spends an average of 45 mins with each patient and does free technology visits with them).
Dr. Josh Umbehr describing his free market medical practice.
ua-cam.com/video/bGZaRnC1wNg/v-deo.html
John Farquhar Fulton (November 1, 1899 - May 29, 1960) was an American neuro-physiologist and historian of science.
He received numerous degrees from Oxford University and Harvard University.
He taught at Magdalen College School of Medicine at Oxford and later became the youngest Sterling Professor of Physiology at Yale University.
His main contributions were in primate neuro-physiology and the history of science.
Licensing needs to be more streamlined and cheaper. You need a Skillshare app for doctors to teach students. If you can set some decent standards and let everyone take a shot at it, you'll have more doctors. Medicare should negotiate on behalf of all insurance and even customers. People shouldn't be forced to have insurance. They should be rewarded for healthy habits.
No regulations, except for internet.
🤣🤣🤣
Cant wait for the video on the FDA
Most of my patients use INSURANCE MARKET 323 709 8147 trust me you not get a better price anywhere JUST CALL THEM.
I have a question. Why is this video not viewed more? It's been around 9 months now and it has great facts and analyses. What is holding it back?
Lot's of Americans don't want to accept this reality. They are sure that the American healthcare system is the best in the world cus MERCA!
you go public, I dont know how, but someone does!! also, Clintons, knew this and didnt stand up for it....WHAT!!!!
@@scott7008 What do you expect to happen when only the best practitioners are allowed to work in America? Nobody is going to forgo their own survival for cheaper medicine. They'll just cough up the money and accept slightly higher quality care (as if that isn't an overstatement) for much higher prices.
Vox is the 4th search result but has 4.3 million views, and sometimes people judge by views
we get it youre a stuck up european whos only personality is crapping on america and not bringing any actual arguement to the table@@SteveMHN
Ironically, when the government intervenes in the -free- market to _help_ the common man, it only hurts him by eliminating competition and eroding the quality of services through its regulations; thereby, creating a moat for the surviving entities in an industry with all costs of said regulation passed onto the consumer. Basic game theory at its finest but with the rules stuck in a positive feedback loop.
This only applies in capitalism. Change the game so the "common" man is not hurt.
You should just start at the beginning , and say, forget about the poor.
There is no free market in Healthcare!
In a free market, goods and services are allocated through transactions based on mutual consent. No one is forced to buy from a particular supplier. No one is forced to engage in any transaction at all. In a free market, no transactions occur if a price cannot be agreed.
The medical industry exists almost entirely to serve people who have been rendered incapable of representing their own interests in an adversarial transaction. When I need health services I often need them in a way that is quite different from my desire for a good quality television or a fine automobile. As I lie unconscious under a bus, I am in no position to shop for the best provider of ambulance services at the most reasonable price. All personal volition is lost. Whatever happens next, it will not be a market transaction.
@@MsCalico55 Capitalism isn't some boogeyman entity. Capitalism is simply voluntary exchange. More voluntary exchange injected into the healthcare industry is what is needed to remedy this situation brought about by central planners like yourself.
The model for free market healthcare is already out there and working! Here's Dr. Josh Umbehr describing his free market medical practice.
ua-cam.com/video/bGZaRnC1wNg/v-deo.html
Excellent video!
[Outline Pt.1]
(0:00) Diagnosing the problem
(1:19) Apprenticeship System 18th century
(2:53) Gatekeeping Crony Physicians Lobbying the Government 1821
(3:59) Licensure Critique
- (5:14) consequence: Reduction in the Ratio of Doctors to Citizens 1900 - 1930
(6:58) Start of Insurance 1930s
(8:03) Community Rating 1929
- (12:41) consequence: widespread higher costs of medical care and premiums which heavily impacted elderly people. 1960s | (an actual line chart here 13:09 would have been useful)
(8:32) Individual Risk Rating vs Community Rating
> This seems like an example of the Tragedy of Commons-protecting the commons is punished indirectly by those who abuse the commons, so the good actors leave.
(9:50) Start of Hidden Prices 1940s
(10:04) There are 4 Ways to Spend Money
(11:35) Stabilization Act 1942
(11:40) Start of Employer-Provided Insurance
- (12:07) consequence: start of collectivization of health care
(12:20) The problem of transferring insurance policy conditions when changing jobs
(13:18) 1965 Medicare and Medicaid
- (13:59) consequence: 1965 to 1980, medical care costs rose as demand increased
(14:33) Diagnosis-Related Groups (DRG) Price Controls 1970s
- (15:03) consequence: Reduction in Hospital Care; Increase in Outpatient Treatment
(15:27) Social Security Act Subsidies for Graduate Medical Education (GME) (?year)
- (15:47) consequence: 1980s, teaching hospitals reached critical levels of indigent patients
(16:18) Emergency Medical Treatment and Active Labor Act (EMTALA) 1986
- (18:06) consequence: emergency rooms treated as free clinics and many were shut down
- (19:17) consequence: higher fees charged to paying clients
(19:34) general regulations
- (19:54) consequence: _Using the old approach, he wrote, I could see patients at almost double the pace. In case of a computer malfunction, the entire department could cease to function_
(20:22) The Food and Drug Administration (FDA)
- (20:37) consequence: _On the one hand, it prolongs the development of potentially useful drugs, leading to delayed treatment and artificially inflated prices. On the other hand, the FDA also fails to protect Americans from unacceptably dangerous drugs, even when experts in the private sector have raised alarm bells_
(20:59) [summary] Even before Obamacare there were a series of regulations that disrupted the functional free market
[Outline Pt.2]
(21:46, 22:55) Obamacare 2010
> No wonder people disagree with it. It's a series of price controls, coercive mandates, moral hazard of socialized risk, marxism
- (23:41) consequence: erosion of free choice
(21:59) American Health Insurance vs Actual Insurance
- _American health insurance does not fully cover the costs of really serious incidents, and requires from the insured partial coverage of costs, which can be impossible_
- _Typical insurance works the other way round: it covers serious events completely, and omits small ones_
(25:19) Community Rating, Obamacare
- (25:46) consequence: _redistribution of property from those who are healthier to less healthy and from younger to older_
(26:24) Minimum Standards for Health Plans, Obamacare
- (26:43) consequence: _redistribution, where women that would not go on maternity leave subsidized women who would_
(27:17) Individual Mandate, Obamacare
(27:39) 2016, there still will be 3.9 million Americans who will prefer to pay the average fine of $1,000 rather than buy insurance; 1 million indigent people would be charged a $695 penalty
(28:20) Government Subsidies for the Poor, Obamacare
- (28:59) consequence: projected decline in the number of full-time equivalent workers of about 2.0 million in 2017, rising to about 2.5 million in 2024
(29:20) Tax Increase, Obamacare
- (29:22) consequence: estimated $1 trillion in net tax revenue increases over the 1st decade; about 5.2 million people who made more than $200,000 a year now had to pay increased payroll tax and investment income tax
- (29:54) consequence: 40% surtax on 'Cadillac Plans'
- (30:22) consequence: tax on wage increase employers give in replacement to insurance
(30:47) Government Guarantees for the Health Insurance Companies, Obamacare
- (31:21) consequence: _In 2014 government subsidies made insurance premiums 10% lower than they would have been otherwise. The result was that the costs associated with Obamacare were concealed from the voters (by the voters' own money)_
(31:34) Employer Mandate, Obamacare
- (31:55) consequence: small businesses hire/keep fewer full-time employees; bigger businesses hire more part-time employees
- (32:39) consequence: projected that from 2015 - 2024 employers will pay $139 billion in these mandate penalties
(32:57) Post Obamacare benchmarking
> the average cost of medical care per head in 2019 was $11,462 according to the Centers for Medicare & Medicaid Services
P.S. - This channel never created the follow-up video on effective free-market solutions (33:56)
afterthoughts ...
- should have included even more dates to help with laying out a clear timeline
ex: (15:03) consequence: Reduction in Hospital Care; Increase in Outpatient Treatment; (15:27) Social Security Act Subsidies for Graduate Medical Education (GME)
- don't fully understand, (12:07) employer-backed insurance contributing to the start of collectivization of health care
And the word 1 trillion is thrown in every few moments to make it seem as if this guy knows what he's talking about
Another reason: Unnecessary care! Healthcare that is meant to prevent unhealthy situations instead of solving them.
In Unviversal systems it is, but not the US where they insurance and medical companies earn more the worse you are.
@@djlads The US, the UK and Canada has vastly different systems but they have roughly the same results with regards to healthcare.
@@24killsequalMOAB WHO ranked Canada's healthcare system at 30th, with the US in 37th, also in terms of overall healthcare ranked who could access it as well they ranked Canada at 35 and America all the way down at 75th! Canadians also live longer than Americans. Canada also out preformed in 11 areas from cancers, childhood leukaemia, kidney and liver transplants, America only out preformed in 6 areas including beast and cervical cancer, measles..
@@djlads more obesity results in more people sick that is known
@@24killsequalMOAB and USA is more obese than Canada
You should create a sister video to this one showcasing what a free market healthcare model could look like. You could base this around Dr. Josh Umbehr's free market medical practice and how affordable it is while simultaneously providing higher quality care (he spends an average of 45 mins with each patient and does free technology visits with them). I think a combination of free market healthcare and mutual aid societies are the antidote to the current government leviathan everyone hates. I'll provide some links below to Dr. Umbehr describing his practice and to David Beito discussing his book about mutual aid societies.
Dr. Josh Umbehr describing his free market medical practice.
ua-cam.com/video/bGZaRnC1wNg/v-deo.html
David Beito interview discussing his book on mutual aid societies.
traffic.libsyn.com/tomwoodsshow/woods_12_05_2013_2.mp3
Do you have any examples of this actually working?
@@kristin123a It's working right now! Dr. Umbehr's practice employees several physicians and sees thousands of patients and The Surgical Center of Oklahoma actually publishes prices (which are much lower than government run hospitals). Charity and mutual aid societies have a rich history. St. Jude Children's hospital and Shriners hospital are great examples. Listen to that interview by David Beito's, he goes through the history.
@xxyyzz You're welcome! Which one looks interesting?
In a free market, goods and services are allocated through transactions based on mutual consent. No one is forced to buy from a particular supplier. No one is forced to engage in any transaction at all. In a free market, no transactions occur if a price cannot be agreed.
The medical industry exists almost entirely to serve people who have been rendered incapable of representing their own interests in an adversarial transaction. When I need health services I often need them in a way that is quite different from my desire for a good quality television or a fine automobile. As I lie unconscious under a bus, I am in no position to shop for the best provider of ambulance services at the most reasonable price. All personal volition is lost. Whatever happens next, it will not be a market transaction.
The "New Insurance Model" is one of the longer roots of the healthcare issue, but as you state in the video, these insurance companies came about by the will of the physicians, not by the will of the government. Is this new model made standard by the government in some way? Because as you demonstrate, most problems with the healthcare market are due to government action, I'm just struggling to see where the government's place is in keeping the new insurance model standard.
Regulations and licences ensure things stay the same. Also have a look at "how the government 'fixed' the healthcare system" video lecture... Healthcare ij a free market can be far more effictice and dirt cheap, but as with all things, when you limit supply artificially, the prices will skyrocket, especially when you get the government deeply involved and also let every medical and drug manufacturing company to get patents on every little thing and drive prices through the roof, and hide the rise in expenses via splitting the bill between everyone. For example - you are old, your surgery costs 200$ total. But the government makes an insurance system. There's 10 more people, so your pay into it is just 20$, good for you. The ones that pay are the younger ones that don't even need anything largely, YET. then the government employee fees are added, patents are passed, and all sorts of other expenses get added into the mix. 'Suddenly' the price of the surgery goes to 600$, but hey, it's still just 60$ for you, looks cheaper than before, great! Eventually, it gets to the point it costs almost as much as before individually, say 150$, but that's split, factually now it's been inflated to 1500$, but the government and people who own it want to cut costs further and get more profit, so they have the doctors operate in more hospitals they build, and don't buy new medical equipment to cope with the demand, now you're lacking MRI machines, etc, and have yo wait weeks or months for a doctor... But there's emergencies! So you go on such an emergency or get frustrated waiting to get your health fixed and go do it privately (or well, semi privately since the government half owns it all with the monopolies it created), and woah, 'suddenly'' you have to pay 1500$ for a simple surgery! Well, there's much more nuances and it'd take forever to go over everything, but that's the general direction in a nutshell. The funny part about it is when you say you need to privatize healthcare to avoid this and lower prices back to acceptable levels, people get outraged and say you don't care about the poor and want them and others to pay MORE for everything when in fact you want it to be affordable. A crazy world we live in...
10:46 this video I was pretty zoned out but this is very helpful
This video was so informative I had to subscribe If this video is the quality you apply for all of your videos I gotta say man you've earned to be honest its my pleasure to sub to you and receive your godly research intellect into these sorts of subjects.
Very informative video. Thanks.
I have never watched so much nonsense on topic at once
The non profit health care system ended in 1973 to a for profit system. Over the years I had the opportunity to watch the system evolve into its current failures. I graduated from nursing school in 1980 and retired years ago. Today, changes have been made and not for the better. The last time I was a patient in a hospital, the mistakes made nearly cost my life. I would have been better off just by staying at home.
When someone tries to argue against deregulations I show them this video.
Obamacare was a horrible "fix" for a horrible system. Its problem was trying to add band-aids to a system that was not just broken but rigged. It still held to the premise that corporate profits must remain part of the equation. Equitable, cost-effective health care will never be possible under a system that prioritizes profits over people's lives. I have traveled to Europe and spent time in many different countries. NOBODY over there thinks our for-profit system makes any sense, and even though no country has a perfect system, they wouldn't trade theirs for ours, under any circumstances. There are some things that private enterprise simply cannot do well. Health care is a prime example of that. Many business people who are not bound and blinded by ideological bias have admitted that health care and private enterprise are simply not a good fit.
@@rickarmstrong9660 So did you just not watch the video?
I'd rather not least I be laughed out of the room. We have a working socialised healthcare. We just see it works.
@@michalptacnik1 Socialized care does work, but it's not a solution to the real problem
Yea, you must not have kids. Having one break an arm and go under to have it set, you'll be glad you have someone board certified and not someone from the 2- year up the hill who's just doing this until they get some experience to move to a bigger, better city.
1:31 “Edinberg”
Freidman needed to look at countries that don't require medical licenses. Their quality of care is not better, in fact it is far worse.
Name the counties. Licensing is simply one factor.
I don't think you have to stop license system totally but you have to increase students. For example 15-20% more. It wouldn't deteriorate quality.
Why isn't the European health care system as expensive though? The cost is socialized and yet it is cheaper and more often than not, of higher quality.
It is because of greed and Profit. See other videos, the CEO want a super high salary.
Video:
Why Medical Bills In The US Are So Expensive
ua-cam.com/video/3NvnOUcG-ZI/v-deo.html&lc=z23etxdpssiqvjqloacdp430xtzp5jxmdjpvq2w44vlw03c010c.1573095298371831
It's incredibly complicated but socialized can, in fact, be made to work very well, it's just that the US has been run by monkeys. In comparison, a completely deregulated market is a much simpler way to have a good healthcare system, but there is, of course the moral trade off that one must always contend with. Either you sacrifices some quality and innovation so that socialized healthcare can help everyone equally, or you completely privatize it and make it better than socialized healthcare for 95 percent of the population. You just have to accept that some people with preexisting conditions and disabilities will eventually run out of money and die on the streets, even at the reduced costs. Some say it's a decent trade off because you never know how innovation, especially unrestricted innovation, will change those people's lives for the better, making it a decent gamble, but many do not.
It's incredibly expensive for the governments who run them and since human demand is limitless you inevitably end up with rationing care and overworked medical staff, which leads to them leaving and a further spiraling down of the system. Also their citizens can expect to pay upwards 50 or 60 percent of their income in taxes, not including huge (20%) VAT tax on goods they may want to purchase.
@@Jekyll_Island_Creatures
Who are you talking about ?
No ordinary Norwegian pay more than 38% Tax
We are in the top about Doctors pr 1000 patients, so there is nothing that indicates
overworked medical staff
At least we pay less Tax than the Americans,
if they should have the same benefits.
We pay 32% tax, or more
and US if they had
Free Health Care,
Free University,
5-8 weeks Paid Vacation,
and 52 weeks Paid Maternity Leave for each child they produce would have to pay
possibly 80-90% with their Profit system.
An American with a company did not belive
it, 52 weeks free with Pay.
Instead a lot of Americans are Bankrupt
from Health Care,
$100 000----How much More??? in debt from Schools
No Vacation
No Maternity Leave as 1 of 3 in the whole world. US, New Guinea, and Surinam
Video:
Where to Invade Next - Taxes
@mars
And if you still keep on how much we pay in Tax , so see how Americans would pay if they want to have the same Health Care
we European have:
A day in a hospital
costs $5,220 in US - versus $424 in Spain.
Harvoni cures hepatitis C.
It also costs $10,000 more in the US than anywhere else.
Need to take the cancer drug Avastin?
It will cost nine times more in the United States than in Britain.
Bypass surgery costs $78,318 here,
versus $24,059 in the UK.
Health cost of several hundred
thousand because the insurance company refuse
to pay is not rare.
And School cost with University education can be a debt for the rest of your life.
And then we have not talked about Vacation or Maternity Leave.
Where US , New Guinea and Sumatra
are the only 3 countries in the world
without Maternity Leave.
And already without Health Care, Schools,
Vacation and Maternity Leave,
US pay almost the same as we Europeans pay with the benefits.
My biggest worry about fully or near fully private healthcare is not really cost but that healthcare is a credence good, you won't know the quality of the physician until your either dead or feel better. And even if you feel better psychology can explain it with the placebo effect, plus the dunning-kruger effect can make physicians more confident in their practice and thus more people in the door and out in a bag.
Butbutbut what if we introduced a government regulation that says healthcare is free!!!
?
"free" healthcare's really called "single-payer" healthcare. It's just a mental shortcut, ofter wrongly interpreted that free means something other that you as a patient do not directly pay e.g in hospital but you pay for it in your taxes. Single-payer healthcare is very good and every developed nation except USA is using this model.
@@pierdzioszek hence the butbutbut. Its sarcastic.
Also, diversity is great. Every other country can have it. I just dont want it here.
I just wish our government would get out of healthcare as much as possible. Also employee insurance was a major mistake. Its why people cant work more hours. I wish i could. Id gladly pay for it myself.
@@boggless2771 Well, if this video told it accurately, then your health insurance/healthcare system is overcomplicated and massively overpriced, so there's no easy solution. The only solution to me would be to get rid of the past acts, and then establish a totally new healthcare system. It's your national choice which kind - single-payer or private, so maybe national referendum would be good, but right now with 50/50 split on the choice it's impossible to even start process of repealing all that cumulated bs from the past.
it seems like a lot of the people in the comments didnt even watch the video.. the propaganda is strong
loved it so much because i understood almost nothing
?
It wasn’t that complicated so you’re probably very dumb
@@user-xv3lm1kx9l Wow, what a wonderfully helpful comment! I hope you’re proud of yourself; you truly are the epitome of usefulness! You have my respect, sir :)
You're kidding right?
@@adamdonahue2079 Wow, I don’t care! You truly are the epitome of chiming in when no one asked you and wasting your breath! You have my respect, sir. :)
hello, where i find the video of act to make a better health system ?
Here's Dr. Josh Umbehr describing his free market medical practice.
ua-cam.com/video/bGZaRnC1wNg/v-deo.html
I find stupid when people say: I don’t want to pay for people who don’t take care of themselves like they do in Europe where all contribute and pay for the healthcare system of all with their taxes. So all medical problems are because people don’t go to the gym or sometimes drink and eat too much? Good health is not always linked to merit. How about genetic problems, cancer or accidents? These are also due because people dare to eat at McDonalds once in a while? I don’t think so.
Just because regulations by the government in the current system have not been a success in curtailing the cost of healthcare doesn’t mean that regulation is therefore useless. You can’t regulate a system by writing legislation that’s intentionally designed to prevent actually regulating anything.
If the US government just flat out put its foot down and said no this is how much you can charge for any given procedure and then held hospitals and physicians to that price it would be a done deal. You can try and make the argument or you want that it would fucking lied to A terrible healthcare system or it would cause people to not want to become doctors but the fact of the matter is that’s bullshit there’s no proof at all to support that claim I mean what are the car doctors gonna do are they gonna move to another country and start practicing medicine there because they have to get their certification all over again and for what to take a reasonable salary over a ridiculously inflated one?
A doctor is going to earn a good salary regardless of whether or not price positions are established.
The reason that healthcare is so out of control in the United States right now is because the the ambiguous nature in which fucking insurance companies are allowed to offer different rates to different people depending on different circumstances. It’s essentially of a license to pretty much charge whatever the hell you want for whatever reason you want to charge that to people who are in no position to argue with said prices Because it’s usually the difference between them living and dying should they not go through with the procedure.
The current American healthcare system is the most ridiculous example of price gouging that is ever existed.
The inability of current regulations to alleviate the cost of healthcare has far more to do with the language that governs the conduct required to be in compliance under the law.
In other words it’s not that shocking that poorly written laws which are usually introduced by career politicians who were the benefactors of campaign contributions by the very industries that the laws are supposed to regulate would some how just fail when the requirements laid out in the laws are almost incoherent and just unbelievably difficult for anyone that isn’t a legislative scholar with 70 years of practice as a lawyer and then a judge to be able to adequately decipher.
I don’t know how anybody in the United States is fucking at all shocked that no amount of political action on behalf of all citizens by elected representatives can reign in the profits that the corporations keep on taking in and the money that the average citizens have to keep shelling out just keeps getting farther and farther apart when the fucking very people that we rely on to write the legislation is it to regulate the industries to alleviate the stress on the average citizen were able to get elected on the backs of the huge campaign contributions made by the very industries that are supposed to be being regulated.
If you really want to affect change in the United States with legislation the first step is to flat out ban the ability for any sort of political campaigns to be able to take in donations from any industries for any reason whatsoever.
Where is the follow-up video to this? I want to hear what the free market solution is!
... as the crickets chirp ...
Lesson, GOVERNMENT STOP INTERFERING!!!
LoL each time they try to come in and make it better they just make it worse
The reason it’s so expensive is because the government has no right in America to regulate hospital bills for some reason. Even though it would benefit everyone if they did.
I was texting 988 (suicide and crisis lifeline) yesterday and got a follow up call today. They said if it continues or gets worse to go to the ER but I can’t afford that… it’s hard to get help when suicide prevention treatment is so expensive.. that’s why ending it is so much easier
hey hey, please don't say that. I'm sure there are solutions to your problems. Don't give up!
I'll never complain about waiting for an appointment again!
The cheapest insurance pool is the one everyone pays into. Young is not the synonymous with healthy. Also isn’t ability to pay positively correlated with health and sickness is likely to lead to being unable to work?
We were almost completely covered through private insurance before intervention.
He never said being young was synonymous with healthy. Nice dumb@ss strawman. What he did say was that garrenteed premiums for the most vulnerable, which the elderly factually are, spreads the cost onto everyone else & creates a moral hazard. The ones who do take advantage of this are rewarded.
To address your last point, yes. That's why the healthy, in a free market, would save (with an appreciating deflationary currency) & prepare for when they are old & sick. That's why insurance & company benefits exist.
1. Sueing
2. Paying for non working peoples bills
3. They can get by with it.
still have trouble as to why Americans don't have the same as the rest of the western world. government run medical is cheaper in most cases it's also better and cheaper . you do not have to pay companies like private hospitals or medical companies if everyone puts into only the one place . and that place dose not need to make money. you can go to any doctor or hospital or even get a amberlance and not worrying about paying for every body rich poor or in between
Waiting on that free market solution vid, really looking forward to it!
Here you go:
Dr. Josh Umbehr describing his free market medical practice.
ua-cam.com/video/bGZaRnC1wNg/v-deo.html
David Beito interview discussing his book on mutual aid societies.
traffic.libsyn.com/tomwoodsshow/woods_12_05_2013_2.mp3
How much profit is too much ? I saw a hospital bill that charged $12 for one sheet of Kleenex.
Finally an adequate video on the healthcare system in the USA! Thank you! Keep up the good work!
I would like to see counter points and your response to those points. If that was done in the making of the video, I would like to hear them. I don't like it when videos have only "here are facts that support my POV." Surely there's some points not addressed here: en.wikipedia.org/wiki/Healthcare_reform_debate_in_the_United_States
Thank you for the in-depth look. Now make a 5 minute video with lots of quirky exaggerated animations to get those million+views lol
Brilliant video a must watch for everyone.
by far the best explaination i've heard so far
It explained why it doesn't think Obamacare was good, it said nothing about medical care during the 21st century. Care and insurance aren't the same thing. People just don't understand that.
@@MFranklinstein-vw2tn whats the real explaination then?
@@UltraRik basically, greed. Here's part of it from what I posted elsewhere under here. Something I didn't mention is that 5% of patients make up 50% of all medical costs. We need to isolate where we can do better with that and do something there.
------
This whole thing was a cop out to bash Obamacare. It's titled about why our system is expensive and why bills are so high, and then goes i to why Obamacare sucks.
Medical care and health insurance are not the same thing. This was just a lazy video of some history and then dunking on ACA when it's no longer relevant.
Try actually talking to people who pay the bills are major health systems and see how greedy docs are. How gouged patients are on prices of basic drugs and devices and procedures. They touch on the ER and care, except an ER decent cost more to staff than a clinic. Docs rotate around between clinic and ER a lot unless they're specialists. A floor nurse on float is the same as ER. If we applied the same logic, you'd have to pay 10x at Taco Bell at 2am because it's WAAAAAAAAAY past dinner time and that taco stuffer is far more specialized because it's dark outside.
Drug costs can be reduced by offering 2 vial sizes of some of the most popular drugs, but then Big Pharma would have to take less. Docs could take less but then how would they let us know they're better than us outside this hospital???
Medical school could charge less, and those faculty could take less for their lazy schedules.
Device companies could take less, but same as Big Pharma and the corporate world, corp profits MUST go UP! Health insurance could take less, but again, corps gotta profit more. And finally, prevention is worth more than treatment, but hospitals, devices manufacturers and pharma don't make money from cures, they make money from treatment. It's far better for the medical system to treat diabetes, hypertension, high cholesterol, and obesity, than to cure or prevent it with a $40k/yr nutritionist.
No hospital system merger has ever reduced patient costs, they still ALWAYS go up, because it's all a corporation. It's all about profits.
@@MFranklinstein-vw2tn "basically greed"
Greed isn't a quantifiable metric.
Doctors and insurance companies aren't any less greedy than you, I, or anyone else, the difference is - they can get away with it, and this video explains why that is, the actual root cause.
You are just listing symptoms.
Are computer companies less greedy than doctors?
Are cafe bars any less greedy than doctors?
Are supermarkets any less greedy than doctors?
Why are the prices cut in half while the specifications double every 3 years then?
Are they operating in different system than hospitals and insurance companies?
"how greedy docs are!"
"It could be less but they HAVE to PROFIT more!"
"They could charge less but they are GREEDY!!!"
I am a reseller, I am very greedy, I like money, but I can't inflate prices like hospitals do, because the people around me are free to subvert me by offering the same thing for less.
"Greed" doesn't magically teleport money from peoples pockets into yours.
You can be as greedy as you like, but you won't make a penny if your prices aren't reflected in the quality of your products and services.
@@UltraRik you basically define greed right in your post "im greedy, I can't get away with what hospitals do". Doing things (or not doing things) to force obtaining more wealth, is greed. Accumulating wealth solely for the sake of it, is greed. Doing those things for necessary "commodity" like Healthcare (the lifesaving kind), literally takes money away from people.
You know, being a reseller, that when your vendor raises costs, you raise prices. If a vendor suddenly obtains a monopoly and increases prices for the sake of it, that's simply greed. Your concept of greed not existing or being quantifiable is applied to overeating, among others. Most people can say there's a point at which something becomes something different.
PUBLIC CITIZEN - 1600 20th Street, N.W. Washington DC 20009 - Public Citizen in Washington D.C. said: “By eliminating the health insurance industry, we save $350 billion a year in administrative costs and profits.” (e.q.)
Yeah, I just got out of an active duty deployment in the middle east. I have 180 days of "heathcare" that covers next to nothing. Once this runs out, I will have no insurance whatsoever because I cannot afford it. I'm a 21 year old trying to go to college.
I guess this is how Obama's healthcare plan treats vets
Your state approve Medicaid expansion?
This video is covering American heath care system in a vacuum without comparing it to how is it in the rest of the world. In Europe health care covers everything and most Europeans still pays less.
@Daniel James Americans wondering if they can afford to go to see a doctor or starting Go Fund Me campaigns to cover costs of treating cancer is higher quality? Also what supply shortages are you talking about? There were some during outbrake of the pandemic but I am not aware of any serious issues prior to that.
@Daniel James The term socialized healthcare or medicine is misappropriated.
European countries have socialized their spending for their public healthcare system.
Whatever term you want to use, we have the same thing in United States; socialize spending for fire departments, police, libraries etc.
And the failings or imperfections touted about European countries is taken out of context and exaggerated. And there are outright lies out there. Yes, nothing's perfect but they have much more to show for their tax money.
None of these countries would vote in our healthcare non-system. I know. I used to come in contact with people from all over the world and asked them that question.
The US healthcare non-system is almost twice as expensive as some countries, extremely inefficient, bureaucratic, extremely fragmented, on and on. The US non-system of healthcare is exceptionally greed driven instead of patient-centered for its citizens.
@Daniel James I rather that than having hundred of thousand of people dying every year for treatable diseases
thank you for this video. The cnbc and vox videos are done by lazy 20 year olds. They never discuss taxes, regulations and restrictions on the industry from the govt. This applies to all businesses. Prices go up with licenses, tax hikes, fees, regulations etc.
Precisely! Everyone thinks more central planning is the way out, when in actuality it just digs the hole deeper. The remedy is the free market and it's already working!
Here's Dr. Josh Umbehr describing his free market medical practice.
ua-cam.com/video/bGZaRnC1wNg/v-deo.html
Well guys in U.S if everything fails , do it like John Q...!
Is there any evidence that removing licensure for medicine will improve healthcare? And why did the physcians ask the government for help to ensure the premiums did not skyrocket 7:25 And the physicians started the 2 companies, blue cross and blue shield with the help of the goverment so they could get paid right? This to me sounds like a way for the doctors to use the goverment as a tool to get paid.
He literally gave evidence in the vid lol. It's basic economic law. You drive up the scarcity of doctors, the rarer & more expensive their care will be.
To address your last points, nobody denies that corrupt people can try & get protectionist laws passed. And? That applies to every system lol! What do you propose we do about it? Regulate the regulators? Destroy the productive private sector? Or, hear me out, deregulate? Why don't the people choose the system with the best outcomes, a free market?
@@austinbyrd4164 I think deregulation will bring about even worse healthcare. If there is one thing there need be great requirements to practise it's medicine.
@Daniel Holta why? Gatekeeping alternatives doesn't do any good to the consumer. That's just stupid. It purposely raises the cost of entry, for what reason? If I want healthcare bellow your dumb@ss, arbitrary, corrupt standards, I don't have the option. Why?
The healthcare industry is the most regulated market in the US, second only to the financial industry. Crazy how those industries have huge problems... Massive booms & busts and a misallocation of resources from low rates, and high as hell prices with healthcare from various interventions.
Take occupational licensing as an example. This creates massive scarcity amongst doctors, increasing the cost of their labor, and in the end having said cost pushed onto prices. Not to mention public industries such as medicare, medicaid, and obamacare. They divert resources away from private sector jobs and offer huge pensions, encouraging labor away from private sector jobs as well. They then get into a bidding war over said labor, with the government ultimately winning. They can literally steal endless amounts of money, not to mention print it.
Intellectual property is another huge issue. Government grants to own arbitrary ideas in other's heads. Yes, this does encourage innovation to acquire said monopoly, but it also monopolizes them lol. So that not only halts innovation within said ideas, but jacks up the price to the creator's whims. People have to beg the creator of penicillin unorder to legally make penicillin. This 'innovation' is just a weird subsidy for the rest of the world. A world where they stupidly agree not to copy our IPs.
Healthcare in scandinavian countries is only 'good' relative to our corporatist system. Even there it doesn't compare on quality/wait times. Their cost of living is through the roof from the taxation & deficit spending needed to fund it.
The only issue with US healthcare is the *price.* And people wonder why.
The interference in insurance has led to an immense moral hazard. Community ratings & guaranteed care for the old subsidize risk, unhealthy behaviors, & reduce the demand for individual savings & preparation. People no longer want/have to individually work harder through life & prepare ahead of time. Each individual is naturally more or less susceptible to certain diseases. If cancer runs in your family, you are going to have to save more than others. You shouldn't be reckless in your youth, rest assured that you'll be bailed out in your later years. This wastes scarce resources. Reckless wastefulness should be disincentivized.
The old, who have more savings in a free market, can absorb the higher costs of care. The youth can't. The youth should be encouraged to save for when they're old, as the elderly are a larger liability. The productive, healthier, less risky youth should be able to pay less. This'll help them save for when they're older & have to pay more.
Yes, those with uncontrollable conditions will have to pay more. And? They've accumulated a lifelong supply of appreciating savings, & have countless charities, friends, & family to help. All of which are now *more able to help.* The productive youth live with a cheaper cost of living, don't have to go into debt as much, can now use their funds to earn even more through productive ventures, & (in the end) build their savings. With more disposable funds, they're more able to help those with a higher cost of care.
Community ratings in insurance & guaranteed care have made things terrible. It's brought up the cost of insurance & care drastically. We shouldn't subsidize the elderly who didn't prepare ahead of time. Those who can't control their costly conditions will receive help from willing able people. We just shouldn't collectivize the risk & cost.
Friedman morphed into Darwin . Not a big jump.
@SandfordSmythe what are u talking about?
@@austinbyrd4164 fixed my typo, sorry
@@SandfordSmythe Still don't see the point
@@austinbyrd4164 Free market favors the rich who can afford the the care..Without government support, the poor can not access the market.When it comes to healthcare, it means the survival of the fittist. How come you folks never address that? It's not you or your neighbors?
Funny how the health care system only talk about health after u sick. How about pre sick health advise
Most the times American's do not go in for checkups because they don't like missing work or some cannot afford it.
@@falcor4752 even if they go to a doctor for check up but you eat unhealthy food its useless..many times its patient cause ..becuase even doctors remind us what we do about food exercise stress etc but we dont follow them
@@falcor4752 even if they go to a doctor for check up but you eat unhealthy food its useless..many times its patient cause ..becuase even doctors remind us what we do about food exercise stress etc but we dont follow them
Basically very sparingly eat sugars and processed carbohydrates
When Obamacare happened insurance companies doubled thier rates over night as we now had to legally have insurance or face punishment by the government.
The only effect it had was to require coverage of existing conditions and to give an adequate basic coverage. I'm glad I don't have to pay for the slackers.
@@SandfordSmythe My insurance doubled over night as everyone else's did and never went back down from that price increase , I have paid thousand of dollars extra in the last few years since then and will be spending tens of thousands extra in the coming years, that is what government oversight/regulation do .
Where is the next video?
They realized suddenly they don't know how to propose solutions, only bash on 0bamacare and then relzied Trump had been in office 2 years already.
Interesting video. Very basic Econ 101 thinking with a clear libertarian political bend but still useful.
It's more than useful. You might call it libertarian bent, but more "liberty" i.e. reintroducing the free market into medicine is the answer, not heaping on more central planning.
Here's Dr. Josh Umbehr describing his free market medical practice.
ua-cam.com/video/bGZaRnC1wNg/v-deo.html
@@Jekyll_Island_Creatures Interesting video! thanks for sharing.
I’m here for an essay assignment
Most states are now moving towards giving physician assistants and nurse practitioners full practice privileges, and guess what AMA is crying foul.
The government involvement has grown just as fast as the prices in healthcare.
In 1926 the NHS or National Health Service was launched in the UK. In 1947 it treated it's first patient in a hospital. The system is NOT free, Brits pay through National Insurance Contributions. This means at point of service you do not need to pay. In years since and high volumes of immigration the system was stretched to breaking point because many countless governments - mostly Conservatives who didn't like the system - did not invest enough to cover the increase in use. given it's shortfalls the system still works, all-be-it straining to cope due to lack of the correct type of management and investment. But it's better than dying on a gurney cause you don't have the cash or insurance.
The Reason the Tory right didn't like it is because they had many members who were senior medical figures who wanted to increase their wealth and status as it had been pre-war.
The class system had failed post war and now those who thought themselves better than others realised they were now equal and didn't like it. Of this class were doctors, solicitors - lawyers and other learned professions and rich land and business owners who had to treat their workers correctly not as barely paid chattels. The health of pre 1914 men from working class backgrounds in poverty was appalling; The government had to intervene and fix it. Post WWII the NHS had to be beefed up so that the people, workers and their families were not just fit as human beings but more important to the government and the mill owners, fit to work.
As I see it America is heading for the same dilemma and problems regarding greed over health. If need be, set up two systems - one for the rich as it is with their private hospitals and one for the common man. Introduce a contributions service automatically garnished from salaries to the scheme. But first and foremost, remind those doctors of their oath - if they rescind, then strike them from the rolls, unable to practice medicine in the 50 states. Can you afford a nation of sick people unable to work and pay their taxes? Does the "pursuit of happiness" only exist for the rich? If so -you are a failed state.
You guys should remake this clip with some more examples to make it easier for a layman to understand. I got to the DRG portion of the video and had to start researching elsewhere to understand the what you meant by price fixation and shortages. An example would have been very helpful there. Great video though.
Watch videos of Milton Friedman. Great source of knowledge.
I want to see what you say on european universal healthcare
Has no innovation, constant shortages, long wait times, & a relatively higher price than a *free market* alternative.
@@austinbyrd4164 higher than a free market? As i know 17% of the GDP of USA goes to Healthcare, with Universal Healthcare would be 2.5x less
@Daze Thunder If you actually watched the video, you'd realize america's healthcare system is far from a free market. It's corporatist.
This explains a history of the problem, but some of the more tangible variables seem to have been left out. Like, the cost of facilities, equipment, employee pay. How about loss due to incompetence and corruption? I find it hard to believe that it all comes down to a broken system. There is a human element that is being ignored here. There is a snow ball effect, of course. I think day to day corruption and monopoly were intentionally ignored here. The money can't just disappearing into a mist of legal and administrative failures. These figures and changes of regulation and systematic structure, they don't explain where all the money goes after it changes hands.
Also unnecessary tests and procedures that don't give any extra health benefits.
It pains me this video only has 9000 views while Vox has over 3 million views on their healthcare video.
BECAUSE HEALTH AND EDUCATION MEANS BUSSINESS
And that's better because business means serving your customers.
TG I am Canadian.
:( come on is been to long since an econ clip video:(
elbobbyx to be fair, the video was 35 minutes long. Much longer than normal
Get this video to the president!
Word Salad
Great video but you pronounced Edinburgh wrong :')
Sorry but I am just too stupid to understand why does an "insured" person has to pay about 20% of his /her final medical bill .So for example : a patient has a hospital stay, has surgery and ends up with a $400,000 hospital bill.Assuming he/she is "insured" he/she will still need to pay about $80,000 after the "insurance" kicks in .That's FUCKED UP ! (100% BULLSHIT and a JOKE ) Coming from a "third world country" my concept of insurance is way different.Insurance means a coverage of 100% of the total bill or almost the whole bill. I understand if with this example you end up with a $2000- $3000 bill (fully understandable and fair) The overcharge of hospital services , extreme and evil greed of pharmaceutical companies,doctors and many involved in the health care industry is at fault !
here in norway same with car insurance, you can opt for full or half ,full coverage covers the dmg on others and half you need to splitt the bill etc
Your state should regulate the insurance companies
I would suggest your research the capital funding on these "othe rich countries" and you would see the truth. European countries pay far more in taxes to subsidize the healthcare. You wait in Canada to be treated for just typical routine procedures in the states. The French system is often seen as the best. Yet it routinely needs additional government funding to stay afloat. Not to mention thse "other rich counties" are half or less the US population. Furtheremore, the American Medical Association Doctors after WW1 eliminated anyone but trained doctores from treating people ie midwives and cut out poor people being able to see non doctors for negotiated prices. Also, they lobbied to have ALL medical conditions fall under insurance coverage. Insurance was then picked up by employers to attract new hires that wasnt taxable. Its called work benefits. The US has a patchwork woven together instead of one overall system and chnaging it from the ground up is nearly impossible. Europe got a hospital plan for morale of the people, the cities were in rubble. My point is there is no system that will cover everyone with quality care, yet be cheap. It just cant be done. Dont get me started on drug pricing and what hospitals charge. The overlooked cost is the huge rise of equipment and technology. X-Ray machines, MRI machines, not to mention the admin staff required in doctors offices need to be paid. There isnt enough profit to cover a visit for a cold that will keep the lights on. Imagine your auto insurance compnay being forced legally to cover oil chnages, brake jobs and and any visit to a repair facility. Im sorry for the ranrt, but I get annoyed when people just say free healthcare for everyone. It shows just naitivity and emotional thinking. Its far more complicated than that.
So basically its so expensive because bureaucracy
So long video but it had to be. USA has the best medical care in the world but quality is expensive. Sad but true.
Primary care doc in 1995 made 200k in 2020 it is 185k. Medical school cost is around 500k
I can answer that in one word: insurance.
Goood
Few things:
Firstly, it should really be bourn in mind that Friedman was a massive advocate for free markets. Not saying it's wrong, just that it's important when considering his views on things as it will skew his opinion significantly in one direction.
Secondly, there is an underlying assumption in this video that if you are a greater burden on the insurer (i.e. have moe medical needs), it's because you are less careful with your health. And that those who get penalised are the ones that make much more of a conscious effort to take care of themselves. I contest that. I'm not particularly careful when it comes to my health, contrary to both my partner and my sister, but they require more medical help than I do for some reason. I know many people who are healthy but need more medical attention than myself and others who don't make any particular effort. There are so many factors out of our control that it because a little lazy to assume that the people benefitting the most from cost regulation of treatments are the ones that take care of themselves the least. It's very much a free market concept that ignores the randomness of biology and medicine.
Thirdly, I'm gonna push back on the idea that deregulation through delicensing is good because it pushes down costs. That ignores all the other impacts of scrapping licenses. I'm an engineer, I've also spend a significant amount of time in developing nations with my parents' charity and seen the engineering there where licensing isn't as strict. That has resulted in some interesting practices and some catastrophic consequences. Even in my home country where regulation is much stronger, I've seen examples of people who aren't qualified being given a job and making some dangerous mistakes. In my field, these things usually get checked by someone who is properly qualified and licensed and the mistakes only end up costing the company as they have to start again with someone who is properly trained. But imagine that's a doctor prescribing medicine with bad side effects misdiagnosing an issue. Or someone operating on an uncounscious patient.
Finally, when talking about the problems, there doesn't seem to be any analysis of alternative systems. Granted, the US system is broken. I'd say most people agree on that and it should be analysed. But any analysis of a system has to consider other systems that work and why they work. Put it this way, when talking about the cost of healthcare in the US and how regulations seem to impact it negatively, the video here is completely ignoring the fact that nealry all developed nations in the world have some sort of state subsidised healthcare system that all cost less in percentage of GDP than the US and rank higher in nearly all studies. Many of the claims in this video could easily be debunked if we looked outside the US. I'm gonna give it the benefit of the doubt and say it's an unintentional omission, but it does strike me that this video takes a certain view and shapes the arguments to end up at a conslusion that fits that view, rather than be open-minded.
What about direct pay practices for primary healthcare? I recommend this video: ua-cam.com/video/bGZaRnC1wNg/v-deo.html for insight on this, the video is quite interesting and is only 10 mins long in which a guy explains the model his and some other practices use in which is involved around patient --> doctor, instead of patient --> bureaucracy(admin/regulator/insurance) --> doctor. He only talks about primary care which obviously isn't the whole of healthcare but it is still an important part of it.
Update
Where has free market healthcare worked?
@Eugen Here before the great depression, and the doctors were getting paid bread because the deregulation & free-market destroyed our country in the Great Depression & over a dozen times before the Fed was created in 1913.
Free market nuts are the communists of the right.
@@tyalprince Did you even watch this video?
Jaames Johnson yes, where has it worked?
@@tyalprince It worked in this country a long long time ago before the inception of Licenses back when the consumer paid the doctor directly.... that is the fix, not having government pay the absurd prices and then taxing us absurdly to recoup the cost.
If we put in place Berni's system it would not change the fact an ambulance trip costs 36,000 dollars It wouldn't change the fact we spend 10 times more for our procedures then the rest of the world. And why? Because our Medical industry is not even remotely free enterprise!
Jaames Johnson back when the average life expectancy was 40 years old healthcare sucked so bad? You forget about that?
Licenses have created so much innovation & education in the system that our life spans are double what it was before. Stupid ass argument.
I get that the healthcare market is heavily regulated, corporatist, and monopolized, but even if we had a free-market in HC, isn't healthcare a unique commodity in that, if something were to happen to someone, and they needed to go to the ER, they can't consumer shop an ER, they go to the nearest one, and that there is asymmetric information in healthcare, where providers have more knowledge than consumers?
Yes your comment picks up on what this video conveniently leaves out, and that's why no one who supports this "all government and regulation BAD" political view can rebuff you.
@@ajpello2003 I'm torn on the issue of healthcare. On the one hand, I see the free-market argument and do believe the industry is heavily regulated, and that maybe free-markets can work. But on other hand, idk how demand inelasticity plays into the healthcare market, and if costs will remain high, even with a freer market. Socialized medicine or universal healthcare also has very big problems, that I am not a big fan of. Long wait times, shortages, inefficiencies lack of choice, are all big problems. Healthcare economics is by no means an easy issue.
Skipe Boi I completely agree with you both socialized and free markets have their issues and I appreciate your fair assessment of both. This video is very conservatively skewed so it's definitely doing an injustice by not addressing those free market issues.
Except something like 95% of all healthcare procedures are done in a non-emergency fashion. Negotiating on the surgeon's table is the most farcical situation imaginable. How many times have you negotiated on home insurance when your home is on fire? It just doesn't happen. You do all that prior to the event. People respond to incentives, so people need to start planning their death via life insurance and prioritizing their healthcare during the last two years of life which account for the vast majority of the cost.
@@skipeboi4806 long waiting times are a myth! You are triaged based on your symptoms, i.e. if you come in with a fractured wrist your would wait longer if the next person had a compound fracture. When I went to A&E recently I was seen in less than an hour for triage then less than an hr for further treatment, but once the initial diagnosis was completed ie an infection but not a danger I waited a little while longer to see the final doctor then a bit longer for the medication to be brought up in total I was there about 2/3hrs. But people how we're genuinely emergencies were seen asap and sorted asap no waiting. I would rather be walking wounded and let those in more urgent need be taken care of.
Thank you, now I know that we need a european style govt controlled health care. And why worry about the poor and working poor?
What this video calls "moral hazard" is in fact "adverse selection."
Because America's healthcare system is a huge multinational. Reason why I am left.
expensive AF
The only concern I have abt removing medical licensing is how do we deal with shady doctors. How do we avoid bad treatment??
Paul Fu if people find out then their reputation is ruined forcing them out of business so it wouldn't be in anyone's favour to do this
Have you never heard of Yelp!?
Jack AD yea but by that time a few lives had been ruined. There’s this one case in my country Cambodia where an unlicensed doctor reuse his syringe and gave over 100 people HIV. He was jailed afterwards but what of the 100 or so victims??
I know medical licensing is an overreaction to a small problem (tho my case wasn’t small) but if we don’t address this, we’ll put lives at harm
Paul Fu this example does not matter you do not live in a free market. There will be a demand for having good doctors and whatever the people want they will get in a free market.
Jack AD to put it simply. I wanna know how the Free Market regulated quality cuz I don’t believe, rather it’s a proven fact that Government regulation don’t work and only cause more problems.
Physicians for a National health Program
To say, people will take advantage of the health care system by becoming unhealthy is the most ridiculous comment yet. That's like crashing my car to get out of work for the day. That is simply not normal human behavior.
One word: 👉GREED👈
It cost so much because because the US Congress
We’re screwed
I don't think insurance premiums are going to change daily behavior. I don't think doctors are going to negotiate price until you are in their examining room.
we pay double the cost and dont have healthcare for everyone
about community pricing: Anyone else make bad life choices in the womb?
I made the mistake of being born with a brain deformity that caused my epilepsy.
That's what I get for not thinking of the cost.
the harsh reality is that some are born fortunate and some are not. we don't deserve anything we get, we are just living in such good times that we only assume that we do. the truth is that generation after generation of humans worked hard and died to achieve what we have today, and we are just enjoying the fruits of their labor. As sad as it might be, you don't deserve any pity from anyone for your condition, but as i mentioned before, we are living in good times that now, society can allow itself to take care of people like you who weren't born fortunate enough to be "normal". Just a couple of examples of the harsh reality of humans: 20 years ago in china, parents used to kill their girls because they were allowed only 1 child; around 30-40 years ago, people starved to death in the USSR; nowadays, people are starving to death in Venezuela and civilians are getting bombed every day in Syria. So, you can be happy to be alive in such good times in America where it's possible to take care of you, or you can curse your luck and parents for bringing you to this world with a brain deformity, your choice.
@@momomtony They killed and abandoned their daughters in China because sons are culturally and legally obligated to provide for aging parents, but parents are obligated to provide for daughters. And to this day China still doesn't have much of a retirement system. The one child policy forced parents to risk dying in the street when they could no longer work, and many acted accordingly. If the CCP had extended that responsibility to daughters and worked to change that single cultural aspect, it wouldn't have happened.
It apparently affected your cognitive ability too. You aren't being clever, you're trying to justify forcing your obligations onto others. Being dealt a bad hand may not be your fault, but it _is_ your responsibility.