WWL>Topics>>3-17 12pm Garland, Medical Price Disparity

3-17 12pm Garland, Medical Price Disparity

Mar 17, 2015|

Garland talks to Mercatus Senior Fellow Dr. Robert Graboynes and Pacific Research Center CEO Sally Pipes about the vast price disparity found in the American Healthcare system.

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Automatically Generated Transcript (may not be 100% accurate)

Oh homework two nights ago borrowed show that was lending and a the university medical center and the problem with health cure here and we you know I hit to flew back and think that by 2012. United States. Spent two point eight billion dollars on health care. Amid quit and that too more than one in every six dollars. In the United States spent on health care should reduce or break a little bit on. Exactly what that means for all of us but I hit this instead here's headline. How much is that blood tests in the window maybe ten dollars. Maybe. 101106. The non. And what their what their look at that it is is what the call will be lifted them. And according to an article was removed these two blood tests and in meadows and that measured cholesterol level with the Stewart millions of times each year. And in this sentence in particular got me it's not a procedure works on hospitals. Or really grated Lipton camps and summer terrible. They're just lots bass pro quality variation you running blood. The rule machine. In pressing the button and that. On one side it's a ten dollar cost from the other side and 101000 plots. Well whenever you read this and meet you always the next question is is that correct is verbally. Is there really something to this and so we need to learn more. Thankfully we have brought doctor Robert. Grew bored with the seemed that your film creators. Specializes. In the economics of doctor doctor welcome show thank you so much. There are being with. So is an exaggeration 2000 plots oh over in California ten dollars and other players. Well the thing is is it's exaggeration but what is uses these kind of fiction. The health care system is loaded with these things that are they go under the name prices but no actually pays them. So I'm guessing you'd be very difficult on anyone who actually pays that 101000 dollars is basically some accountants accounting system. Stick a number like that on the procedures to. It just satisfies some accounting needed balancing the books. But it probably doesn't mean a whole lot others there is Cletis variations in the in the health care system. We can talk about that these sorts of examples usually are are kind of overwrought when he knew little little simple example imagine that use yet to restaurants side by side. One of them has a beer and pizza special with a beer is two dollars in the pizza is eight dollars. And replace extort. The beer is six dollars and pieces four dollars. Have a place you're going to be paying ten dollars for the beer and pizza special. At one place it looks like on the evening news that the Beers three times expensive. But it and that there literally is fine beer and pizza that's kind of how hospital prizes were they match. All of these prices. Pan it's you know again it is an realty. Affecting things too much that at one place they've got a sticker price its way to another place in the sticker prices with. Now this is the problem we don't have a price system. Ian in US health care what was fictions. And it's sort of interesting because the publication of the article appeared in fox. There writers and the very fond of Medicare. And Medicare Israelis have made the biggest source in the country where these nonsense numbers coming. I am not only affect Medicare they drive the prices fall through move the rest of the helped your systems so little bit of irony there. And and helping. And tell them would put 101000 dollars on the cause of the book of blood and knowing that and approve charging them and form for what purpose. You know that's that's where I didn't going to accounting. And answer questions like it. It. There there's so of of valid. Accounting. Rule against the oh look our. He's kind of arbitrary it's. I don't think there's a lot of logic to it really. And so I don't know it's. Here in the article there there was who has sent has said. Insurance companies typically negotiate lower rate with the Hoff. Of and not thought to myself so this is like. In the new drew Vietnam where you. Negotiate. Whatever they say the cause says. Call and they go in Michigan State. And sports guy in the sense it is actually that analogy. Long long long ago please do my first big job and economic side of the network and sub saharan Africa. And I would go to marketplaces and nothing has surprised listed. The other hagel and to a certain extent yes that is exactly now a lot of our healthcare system operates all of and I don't mean to be. Using hyperbole exaggeration whether. The prices there are consistent very much resembles the way the Soviet union's structure. Which is simply these guys knew were referred to as accountants and it has some numbered on paper that put something. And and that's that's about it now that's again. Nolan Nolan health care system for the most part those painting costs. Will recommend if you really want these trees. I'd go to. Web site for the Oklahoma surgery centers and doctors key has to. It kind of medical care he posts literally. The price of everything he does on line hundreds of surgical procedures. And recently and he can get talk officers and he totally interesting story. So there was some procedures idiot listed for good news. Kidney bladder or something whose cost 4000 dollars and he's got on the web site and that's to the anyway you play. You pay it out of pocket. Kept he's basically getting away from insurance. So some guy like old city and I'm in Georgia and my doctors charged me 40000. And you'll I would go back and so the guy goes back to the doctors georgians says. You know what I'm just gonna fly out to Oklahoma has done there. And his doctors and now. I'll do it for four. And afterwards Keith got a call and and in someone's and the and the guys you know it's funny use saved me 36000 dollars. Man you know depending. And decent like an awful lot of satisfaction. And those yeah I mean it's so it. It does sound like the Soviet Union. Yeah it is it is and it's. And in the real driver there a couple of drivers Medicare is the biggest is messes up in. The prices all of her doctor's assistant even if you problematic here. That's basically what every insurance you have it just sort of piggyback on the way Medicare as things. Hospitals again. One of the big problems is. Hospitals in the BB. Institutions with lots and lots of cross subsidies. So. You know on papers say yeah I'd be. You might even be things couple thousand but that lipid test that is truly going to pay for MRI machine down all. And and all of those prices are just subsidizing one another and there is no longer accurately and knows how to untangle. And part of that is the reason they are in the hospital lobby has. Opposed to smaller leaner hospitals that really does have more properly spaced system. And that eventually have to change in the insurers are pretty much just messengers and. We're your information and a whole lot more in pursuing him that in the article and attitude to a few more minutes here. Good would come and bribed America. Which are talking about blood to in this country some tempo and some two dollar. And doctor Greg Moore brought a little bit more entrusting them a little bit about. Journalistic hyperbole. But what what did you can give the Borough plug them compact. There's not much transparency. And nobody brutally halves in the senate rules as to what cost watt in. Why did we paid this and the question becomes would you keep talking about Obama cares and make things federal workers or. Doing things within the state owned gonna make things better or worse and the question is it it's like the based signature comes screwed. Come right back double BO. Are welcome back we wish all talked about news article and stumbled on. Ended two dated says that such a 101000 dollar plus a load to everything wrong with the American health care system. And we're lucky in that doctor Robert. Reports we surged Coleman cute who specializes. In the economic built here and doctor. Crack Berry were wrong in this these figures saying there's. There's some hyperbole in this story but basically our our says some really doesn't have in the way. Of comparing prices in the very complicated witnesses. Oversimplify. It is that correct. If you can put it that way bill don't mean disparage the article it's it's an interest in peace. And it is highlights a problem on just. My interpretation it was interesting about it is I think different from the from the authors. You know the real problem is we don't have meaningful prices and help care for the most part. And when he sees something like I can keep minutes Oklahoma hospital but all the surgeries senator you're really seeing how things could be imminent actually. It's kind of need to go all the way look at his side in look at all the surgeries got pictures of the human body. You click on the options to tell you everything I teach a lot of doctors and a lot of nurses whatever they cannot believe this site. Because they have never experienced in place. Where the medical providers actually know what something actually cost. About Ali it's people from all over the country he gets people coming in from Canada. He gets people from from all over. And or over the years I believe not a broad three to principled. Trying to figure out who has the best helped your social. And everything I read the majority seem to pleased that though label on Brett. But the last Osama load they were thirteen billion dollars in debt. Debt increasing every year cutting back on services seem true Australia. England Sweden you name it. Went when I look at what you're telling me about actual cost and what sounds like. A real in the bill wanted to tell what the cause it is. Is there anyway to. Make health care better more affordable. Well yes absolutely let me let me start with the international comparisons and also areas. All the problems and I just sent about the of this article hospital prices he gets much worse when you look international. And I have this has happened a couple times one. One time buy you class game and one of the doctors in the class is these are all of that group professionals. Tiffany. Saying you know I understand it France. They do. You know for two thirds of price of leader who like can't we do. Do well than the average position for a concerns 43000 dollars from either. So it'll it'll use the through Wilmington picnic. We can do that is coming and coming in Germany and they'll. Not one not. So over there and there are other things I have pointed out that. You know France. Yes for primary care they actually do have quite a nice system on the other hand. If you get cancer you gonna wanna be here you're not gonna wanna be there be greater likelihood of being alive in five years is way higher in the US. And in France you know you can save a lot of money if you're not really. Treating the seriously ill people well. And million other things public health problems saying I was over there about ten years ago eleven years ago. If they had heat wave and 141000. French people mostly elderly died in two weeks because they just don't have the infrastructure to handle. That's sort of crisis. It's not so if it's not simple it now that's. So I have a study out that published last year he confided that market as dot org it's called fortress. You can if you just do this you'll find it fortress and frontier. In American healthcare just Google new opera and a so I really talked about now we've been having wrong conversation for about seventy years for since World War II. The only thing that anyway it talks about health care debate for the most part. It is coverage how many people have an insurance card. What we don't talk about the quality of care we don't talk about. How much help were getting out of it and we really don't talk about how we get the innovations. That really get prices plunging. And I liked what 25 years ago just a mere 25 years ago. And cell phone or in the computer. Was really a toys for pretty rich people. And in 25 years without any big government programs without and be mandated laws whatever. Well we obtained really essentially universal coverage on India's staggering statistic again. 25 years ago I'm not sure sign every single person who owned a cell phone not work program Wall Street just before that. Think that they have no one fellow executive who now want to be kind of in this is unimportant so I've got a cellphone. Today on earth there are seven billion self. Which is more than the number of toothbrushes or toilets. That is you'd get in though if you look at what we do any information technology. And by the way you go to remote villages in the Third World Uga is carrying around phones. That are more powerful than any computers that the CI AM and went out thirty years ago. Separately yet basically it's it was kind of a mystery and to me 25 years ago. Really both parties in the US stepped away. And sort of go that development. Invent create and in this. And we will we won't interfere with few other things to do we got to the people here. Well one of the places they interfered with a lot was in healthcare. Basically public policy in the U. Focuses all on. Net trying to imagine every horrible terrible things can ever possibly happen and making sure none of those things happened. And making sure that. You're never get a Steve Jobs type character who comes into the health care profession and challenges those lower unit. And that's and they in my in my study called that the fortress and the and I he was in the frontier. Where there's. Healthcare is moving quickly to the frontier I'm just not sure we're going to be the first to get there. And yet altered world. Doctor I need to call you about why this week for the knicks seniors every element of story like the just to check it out with. Earlier drug columns Susan thank you so much so it in the mountain if that we'll do that and crawl the there won't call. And it got for will do put. The doctor good dog in daycare. I'd have a right back to him and there have been holding room you hold a little bit longer bring him within. And talk about what's going on there. Say what that says over the obligated. A little five threes. Today headlined the cold bath. And moved to what are Brett. A much of that blood tests in the window may lead ten dollar and a lot of points and on hospitals maybe. And out of 169. Dollars and a number of hospitals. And go to NC who moves to say anymore they're cut bound. Something called lipid panel board and most basic bullet to the mountains and today it just. Measures Colette stroll well they do would mean millions of tons a year. And they say it's not that complicated Dutton edict routier's Schultz. Your roaming blood through machine pressing the button that that. Ten but sometimes 101000 plus in other. Federal understand all that words Jim we talked so we college presidency you'll consent to search institute. And contributing writer at Forbes dot com and so we welcome back to shore appreciated call. Your take on this news is it's a little bit of hyperbole in the pro those stories it's a real problem. In our system. Well I mean I think. It probably the debt and boat is bigger it currently. Because you know vote people you know are they predict 1169. Dollar. That built our black ass. But on the other hand there is a lot of not quite get parental and number. On speculation whether independent fighters in the career happened. And hernia repair on the problem that ilk have I can't guarantee that people don't know you know what a good teacher is going to cost. I need to practice. Over 101000 dollars we're like the panel is it is ridiculous but if it you know part of the problem with being with. Our healthcare equipment the equipment that is Affordable Care Act. But what we really need is transparency. So that people can know in advance what I mean look continent can make the statement but in one. Let panel back on at their local doctors opposite local clinic elect and mark go to a hospital that they know the price it's what people. Eric Cantor is there will be competition. And the and the quite well come down. Or you're a good movies question for you so roar losers. Leave the holder on from quarter while thank you Lou girl was Sally pipes. I looked at. Are. Out here are back. And are there. Out. I should so I think I okay by out of or while you're out. Talk or. Here on and oh well that order. It'd. They're. It exactly and you know work more and more and act like crank and parent is so important because they're. You know you don't look at. You know look at prices and and and shop around and I like it. What is best for them but because there are content directly we don't we don't really you know nobody nobody knows and one of the problems. Let her go people. Who have. You know individual insurance in you know prove not to be pretty standard under the Affordable Care Act. Back I don't know electric eager cot and rarely did that occur though. 160 million Americans who have employer coverage but he did that occur because. On the effort are covered here there really matter because their employer's going to create in any way. Amount. You know the a co pay back bickered with the one of the problems. That are out there that it. Aren't lit cigarette break here we're forget about cost. In medication in the Evanston today. Story about to blood sample. 101000 dollar plus one hospital ten dollars the other. Appendectomy. One hospital because European under books the other hospital 1086000. Welcome back in the there's and probably from awkward during well hyperbole in this story blood. Both of Bradford seemed to bring you the problem is. There's no transparency. In the pricing or agreement. As to what the prices shore. But Libya. Think about a stunning got to California. Comparing medical prices all of the country. And then a claim they discovered doing and one hospital for a simple blood. 101000 dollar plunged number of all the hospitals ten dollars. Of that. Appendectomy. Is some hospital shortly and the opinion ordered of them throw it charge and 186. Miles. We understand that we have solid college presidency you separate search institute. And a brighter for a Forbes dot com. It's a league all of this sounds like there's there's just no transparency. And one when things are broadly applied. That was kinda counter to that is. So would you take that 101000 dollar blood. It might be a big hospital bed the rule a owning. He is really paying appeased of them immoral and machine. And charging it over to the blood drinking section. Does that kind of thing. Well I think I think it doesn't mean it is no longer a lot of the I'm sure coming until the big obstacle Henri we have no idea you know what they are Medicare. Of course the government program for our seniors. And negotiate. With hospital in the pocket repeat and ST check to go. You know it is daring art Hartnell but you know I think one of the things can happen it. You know. Hospitals pay a lot of uncompensated care because they have to treat. People who aren't sure who turn up the emergency room whether. Whether they're Medicaid like reimbursement rate it lower Bangkok public advocate people without insurance so in order to copper. That uncompensated care in the lobby went hospital and charge you know beat my tired feet. As the cover uncompensated care for treating people who have had to cover to who were who have covered which. And doesn't cover the cost of the procedure though I know there at capitol where we need to repair. And he had a and that helped an accountant called. I'm the hospital in our area under armour it would cost. With on the boat or over an hour. They'll couldn't help him finally after a few weak economy. You know it would cut 5000 dollar. I'm but today under the Affordable Care Act and united and the aggregate portable air act. You know many people who are saying they're weighted to extend its war on health care got out there doesn't. Rely on the federal government court there struck a current market saint. I'm admin it is. The deductible now our battle cry for people expect you to view the deductible 5500. Or gambling. Earning say you know gonna cut out and you'll have to pay or deductible. 5000 dollar is there aren't they don't have that kind of money. So it's very important people will be able to figure out you know what it particular crop weathered the vocal critic. A local community hospital or equity and the nature of the university hospital at widener here though. Gary important and we haven't had that and if we're going to get control part of that country people need to know you know what things what things cost. Is there any movement forward or that occur would do. A doctor wrongly gave an example of doctor Ian wandering the country in the settled. Telling a patient. An operation was 40000 plunge in the called the doctor of north than it was four proudly went back to. Doctor in the south and said gee I can get a report for in the doctor here's said okay I'll do it for four. Is is there no way to two. And our own website transparency. It is too shall people what comparable operations costs. Well I mean. Because we don't have a market in health care to pick and the current and the Greek. Government whether it Medicare. Medicaid for low income Americans visit chip program for children or detect and administration. Everything has been beaten and it will work. I'm in transparency in an idea what is the best. Treatment for but I think we're seeing more and more that an employer. And the individual are moving here helping the count we have worked out on the Bloomberg are upheld patent account. Which allowed you to put away money. In your special agency account with the bank. Each each month and then you'd use their agents say come on. You know only going to why paid for your oil changed you know with insurance when you would expect. The car out of pocket style and and you combine in mount with high deductible on insurance plan though. People are employers and individuals are moving to the agent in law because you. Transparency is important people people being more passionately tension but that car and Wendy. When they are charged in the air powered on with their health care. So the blood always implosion to have you on the show have a great day and think we call it here by. Or. And we're gonna take a break and come right back exit with a strong rub them we call with the thing. Forget about metal caused medical culture it apparently no you know what you are able to go forward I appreciated the call. Hey Colin I'll get value story is admiration. A replacement. Replacement. Bill. Panel 86 out and I'm good and share. But it could have been from my insurance company. Chewed out and now. According the what the bill. Trump and all that picture so definitely grow and definitely nobody can explain it. Will would have had to Wear experts in the boat Tuesday. The same thing the vote rhyme or reason to end. They're little transparency. In street Kimberly. Compare it to me things leak help or alternatives. Aren't coming up next. Angel moved showed you do not want to miss the lists of this subject to what's next in the Benson family dispute. Now all the medical examinations should complain to and she's gonna be talking with the attorney Tim mesh. And can belts and the New York Times reporter. Who's been oblique went mr. Benson should be here and they didn't show coming up. Doubled up L big aid celebrity am 1053. At him or what notes.