WWL>Topics>>4-30-14 11:35am Garland: on the rising cost of healthcare

4-30-14 11:35am Garland: on the rising cost of healthcare

Apr 30, 2014|

Garland talks with Michael Tanner of the Cato Institute about the rising cost of healthcare.

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Automatically Generated Transcript (may not be 100% accurate)

Well we're herb were constantly talking about how reducing health -- we've got obamacare. We've got Medicaid. We've got Medicare. Numbers say it's an art museum and partnered expanding. Medicaid. And yesterday we did show on the local organization. Had never heard. It -- it -- nickname weren't. Let her name is no -- And big treat like at Lincoln's. 53000. People in this area and its people. Are or. -- an opera continues to to qualify for Medicaid. Or don't make -- no to quota I didn't quite get it but they've fallen -- To where. They're not taking care of our other with the organization that organization. Is. Getting -- closed doors who has to get nine million dollars by the end of the month. You look at the news today. And is talking about the cities like congress. Or not going to expand Medicaid under Obama care. And I've one thing. The governor has some legitimate concerns over. We've we get a hundred person payment from the -- to three years down the road. It's like 90%. And we just don't have the money that 10%. And it was look what the birds have been should we relief trucks are gonna keep going with their payments so I understand the reluctance to expand. But by not -- and we've got more people. That or not included in health care so. My thoughts on one were reducing costs to more UL. A began in that. -- would. Quote from a couple weekends ago and he's an investor. And it is talking about the Biotech markets forms -- closings that meant culture the market on this and I did. And what it showed was the Biotech was the Foreman market sector. All of last year. And for the past two -- its stock has risen. A 120%. A 120%. And give -- good example that is so Biotech giant. Probably missed pronounces did she oh -- in the lead you know lead. In -- -- -- what -- revolutionary. New hepatitis C drug. And got over three million Americans have -- really -- really really bad disease. And this thing can cure non person patients and 36 month. But the only mild side effects. And the drug use now doesn't Curome. And that's a plethora of very dangerous and only one problem. Single goes one pill one pill cost 2000 dollars. And that means that old twelve week course of treatment. Comes more from more than -- -- So we talked about we're reducing healthcare real. More people getting health care really we don't shows over the last few days people falling through the -- Organizations here taking care of those people running out of my league and -- closed doors. Sure as usual and get a little confused I called Michael Tanner senior fellow with the Cato Institute. And thank goodness he returns my call Mike thank you for a coveted of all. -- -- -- -- -- -- -- -- So how many here I'm just telling the audience that. Doing all the shows we do own health -- as obamacare a million group with a lot of reluctant. You know -- and brilliance in the medical industry bought it seemed like couple million people get health care of the didn't have the Boren. Seemed like some good things were. In disease these you have can't. Keep you from getting health care. And then a certain shows locally. -- we've got organizations. Taking care of people that brought through the cracks of what we had to. Those rotten -- the products of what Obama care -- it's those dropping through the product of the states that don't expand Medicaid. And now all of these Biotech drugs. While making huge profits and costs and or little they weren't where we go. Well there's no doubt that the cost of health cares go out and back yet and yet we in the bigger -- Last quarter that we see in the last. Half dozen years so. So basically what we're doing it should result coming out fresh recession lowered health care costs because lowered demand. And now that we're in recovery we're seeing gopac topic. And what we do just -- people about. And privacy. Rumored drug over three million people. And the annual income. Of most of these people is just 23000. How to upload it adequately Aaron -- and a treatment for one person. Well in the short term we think we're simply not -- -- port. At that all indicate squares or it will be the first adopters of any new technology. And then gradually -- way to income scale. The problem we drove -- costs of reducing the cost of the research development. And actress Albany's a black hole or try and well the well. Which you could coated in that you make it remained out into drug product and it never -- market. At a -- -- caught that and it had on the duke on the market so did the sort of baseline -- development -- oral. A lot of Reading New York Times in the invasive. Inaudible considered here when we talk about. Our drug so much more expensive than Europe and -- because we grew the or indeed but. Here's an article that says. Low tech companies to him the prices need to be reward risky and expensive renovation but. The fact that they keep churning out drugs and -- so consistently. Seems to undermine that plane were you thank. What we all that we say we -- one pick out occurred profitable we don't -- that -- We know we we produce. -- all part. Of the country so that. I'm art were getting a lot more for our bought here. In terms of research development. What did you do have a point corporate. Laws that at the end like -- Beyond that all very small tree to the pharmaceutical industries not start. Are introducing today and we live in loosely quick break conduct on some -- my ten. Senior fellow with a kid wins and two were talking about the Biotech industry. Their camera it's from real -- in treatment eliminating some diseases. The question is. And we import prices. Cancer costs through 300000 dollars for. Treatment. Cancer drugs often caused -- hundred grand -- So it -- the debate continues. -- -- about the your cost of drugs. Cancer drugs average. About a hundred ran for a recruitment. More than a hundred cancer specialists of coal production to lower the price of cancer drugs. A chairman in the Anderson leukemia department -- -- -- an article saying the cause of cancer drugs out of control. It is everywhere you look. We're talking about more and saw I'd reducing health care cost. And on the other side it's being collected school and through the group. Michael -- -- the reason the all drugs or humor usually god they should qualify that by saying that it. Our drug to more expensive than corporate Asia because we're doing the majority of the research and development. That it. Michael you're on the urine of trade in orchard. It. To -- tonight. It -- to breathe or we gonna get to bits and pieces. A tell you blood will vote fraud to get to back real quick market would trump went on. Brad Europe and -- -- -- got a question though as the doctor -- we get back. -- -- -- That would love for it to. Aren't. One more we're talking about primarily -- -- all of this. As this costs are going through the roof. Give you good example. -- draw ago I told you about earlier the revolutionary new hepatitis C drug. Over three million Americans needed badly there's have -- -- -- drug right now doesn't -- thing. Has. A lot of side effects. So this drug companies deleted that comes up with the drug doing so balding. And it didn't cure. 90% of the patients. In the ring it is six months. And early as minor minor minor. Side effects. Problem is. Singled goes in one bill just one -- cost thousand books. Pulled twelve week course treatment. AD Brent. And how out of the people in this country -- 3.2 million people. Would disrupt Odyssey. There average annual income is charts. 23000. Dollars. And and what do you say that these people and again and we just got through doing the show yesterday. Where we're -- a company. Organization here in -- and takes care of like 53000. People. Whose coverage and health care Paul. During the crux of Obama care and Medicare and Medicaid. And Medicaid expansion. And their running out of money they need nine million dollars by August. Or they're going. So once saw it looks awkward for him reduced the cost on the other side looks like it's going through the group. Of Michael can hear me now. Do the amazing technology -- talking even when you're on the plane awards -- telling people about the hepatitis drug so -- the end the huge cost. But the company that makes it. Sells it to the UK. Or 57000. Dollars per treatment and that's 30% less in the price we. Is that your development. I'm Ali which you look at the different between production. Truck and the development. Essentially caught up to. Make me accurate rocket you know take -- little. Plastic -- -- it and then for the drug into it up about those Ehrlich -- cents a pill. So caught up in terms of production. Called the development of solar companies be able to do it umbrage. The US to fuel research paper all the research development caught. And in LA for a fraction of that in foreign countries and have quite control it -- Where did you see the Cohen Michael we would get about a third second third segment welcome them. -- -- inevitable problem factor we're going to be doing more and more help Europe become an all we have decided that we want would put their money. If it were bigger one cancer patient at an enormous caught or could use that money to help. -- hundred people with diabetes. That the private question and decided to adapt. So like fuel go -- little debate doesn't. -- -- -- -- -- -- -- -- -- -- -- -- -- -- Think people pay that without the knowledge that treatment or do you -- -- -- and tell people we can't have that draw out one way or another -- And you're one of the pew experts we ever have -- that admits that influence regional. Beyond thank you for a attributing a composition -- taken the train. Good dog and much more common.