The Business of Healthcare Podcast The Business of Healthcare Podcast, Episode 100: Overcoming the Healthcare Klugeocracy
Jun 28, 2022
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Key Healthcare Trends Last 25 Years
- Healthcare inflation and physician burnout are major adverse trends over the past 25 years.
- By 2020, healthcare exceeded $4.1 trillion, heavily burdening households financially.
Conflicting Inflation Narratives
- Two main narratives try to explain healthcare inflation: patient behavior and provider behavior.
- Policy attempts based on both narratives haven't effectively controlled costs.
Limits of Patient Shopping
- Patients pay only a small fraction out-of-pocket and lack price transparency, limiting their incentive to shop for care.
- High deductibles deter treatment, especially for low-income patients, and disrupt doctor-patient trust.