How does the U.S. healthcare system impact your wallet?
Dr. Eddie Patton explores healthcare costs in the United States. Factors driving expenses include administrative costs, insurance networks, and pharmaceutical pricing. He compares U.S. healthcare expenditures to European Union countries. Dr. Patton discusses the patient-physician relationship's role in the system. Topics include health insurance, medical billing, prescription drug costs, and healthcare policy.
Your Health, Your Wealth aims to help listeners understand the complexities of healthcare economics. Dr. Patton provides insights on navigating the system as a patient and consumer. For more information on Dr. Patton's work, visit eddiepattonmd.com.
Five Conceptual Takeaways
1. The United States spends significantly more on healthcare compared to other countries, with administrative costs being a substantial contributor to this high expenditure.
2. The U.S. healthcare system is fragmented and complex, incorporating elements from various international healthcare models (e.g., UK's national healthcare, Germany's regulated non-profit insurers, Canada's government-financed private care).
3. A considerable portion of healthcare spending in the U.S. goes towards administrative tasks rather than direct patient care.
4. The cost of medications in the U.S. is influenced by a complex interplay of factors involving pharmaceutical companies, wholesalers, pharmacies, and pharmacy benefit managers (PBMs).
5. Investing in preventative care offers a potential solution for lowering healthcare expenditures while enhancing the quality of care.
Timestamped Overview
00:00 Enhancing healthcare accessibility for patients is crucial.
06:27 US healthcare spending needs better patient outcomes.
10:13 Healthcare costs tied to fragmentation, patient-physician relationship key.
14:13 Physician practice costs rise, pay decreases. Healthcare inflation.
18:02 8% of Americans lack health insurance, affecting care.
19:42 Healthcare cost dynamics, pharmaceutical industry drivers, explained.
25:11 Healthcare relationship key; administrative oversight complex issue.
Learn more about Dr. Eddie Patton HERE.
Subscribe to Your Health, Your Wealth on Apple Podcasts, Spotify, and wherever you get your favorite podcasts.
See omnystudio.com/listener for privacy information.
Popular Podcasts
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com