🏥 Why is US health care system so expensive? | Why are medical bills so high?

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.
Learn Austrian Economics in a fun way!

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[vinuwijemanna]

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

[twowingsstudio]

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.

[MakeMajor]

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!

[TheNJB]

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?

[kimtim]

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

[tinacarson]

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.

[xammendoza]

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.

[humblepupusa]

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 :/

[account]

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.

[geoffreyharris]

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.

[angelmarauder]

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?

[sun]

"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.

[dragonhold]

[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

[AmirGTR]

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.

[SuperGreatSphinx]

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.

[MrMann-dwuh]

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.

[phanxm]

Lesson, GOVERNMENT STOP INTERFERING!!!

LoL each time they try to come in and make it better they just make it worse

[MovieRiotHD]

Another reason: Unnecessary care! Healthcare that is meant to prevent unhealthy situations instead of solving them.

[Jekyll_Island_Creatures]

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.

[normaaliihminen]

When someone tries to argue against deregulations I show them this video.