William Henderson and B. McGraw talk about healthcare costs in the United States. Why does it cost so much? Where exactly does the money go? This is Part 1 of 3 episodes.
We first discuss the history of universal healthcare, starting in the late 1800s with Otto von Bismarck's reforms in Germany. Then we go over the concept of an insurance death spiral, and why insurance systems across industries are often mandatory. We then talk over the various systems, to include the Beveridge model, Bismarck model, National Health Insurance model, and out of pocket model. Afterward, we discuss why universal healthcare does not lead to authoritarian government control. We discuss how Americans put more money toward health spending than any other nation, while having worse health outcomes compared to peer nations. Then, we discuss where exactly your healthcare dollar goes. Major factors include higher drug spending, higher doctor salaries, and more administrative bloat.
3:16 Top level causes
6:24 Start of universal healthcare
11:51 Beveridge model
12:40 Bismarck model
14:45 National health insurance
15:35 out of pocket
15:49 US system
17:11 why universal healthcare does not lead to autocracy
20:06 GDP spend on health vs outcomes (2)
21:57 Increasing spend over the years across most countries
24:03 avoidable death per 100k
25:51 GDP per capital vs healthcare spend
26:38 Health spend per capita per year
27:09 Where your health dollar goes
29:53 What is driving higher costs in the USA
35:02 Who owns hospitals in the USA?
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