In this episode of The Health & Wealth Power Hour, we bring you Harlon Pickett’s monthly webinar, “Why Does Healthcare Suck?” This insightful and participatory session featured commentary from Harlon as well as contributions from engaged attendees. Harlon hosted the webinar and provided his expert perspective on the issues, while allowing participants to share their own experiences, ask questions, and add to the discussion.
“Why Does Healthcare Suck?” shed light on central flaws in the American healthcare system and paths forward, such as:
Soaring drug prices as a result from the lack of a centralized negotiator. Americans pay 2 to 3 times more for brand name prescriptions than other nations, despite these drugs accounting for only 10% of medications taken. The Veterans Health Administration leverages the full weight of its membership to achieve drug costs around one-third of the national average.
Administrative bloat has also grown rampant, Harlon highlighted. Over the past 40 years, healthcare administrative jobs have ballooned over 3,500% while physician totals have risen modestly. We now have over 6 million healthcare administrators versus just over 1 million doctors nationwide. About one quarter of all healthcare spending goes towards administration rather than direct care and medications.
Harlon also covered how large insurance corporations have distorted healthcare priorities. Companies like CVS Caremark, UnitedHealthcare, and Cigna have amassed outsized influence through lobbying, campaign contributions, and regulatory capture. This agenda centers on shareholder profits rather than improving access, affordability, and outcomes. It has contributed to primary care physician shortages as reimbursement rates fall.
But Harlon noted there are signs of change. Innovative employers are exploring coverage options beyond dominant carriers. Direct primary care models align incentives around whole-person care rather than utilization. Targeted books are equipping companies to become smarter, more active purchasers of care. Grassroots health justice movements are also fighting for change community by community.
Reform remains challenging but not impossible. Americans must collectively demand a system that prioritizes patients over corporations. Fundamental change takes time, but maintaining the dysfunctional status quo is not sustainable. With public activism, we can build a healthcare system for all.
Be sure to join Harlon’s next “Why Does Healthcare Suck?” webinar, scheduled for August 29th at 11am CST, for more insightful commentary and ideas for moving forward. With ongoing discussion and perseverance, we can create lasting healthcare reform.
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