A large fraction of healthcare costs are linked to hospital care (33%) and clinical services (20%) in large provider settings. And a major source of revenue for hospitals is surgeries — quarterbacked by primary care physicians, who always (anticompetitively) refer internally.
The result: Nearly 20 cents of every dollar in your paycheck, as a healthcare consumer, goes into this overpriced system, referred to cynically by many as the Medical Industrial Complex.
In the early days of the pandemic, patients had to postpone elective surgeries and get much of their primary care via telehealth, cutting off revenue and financial support for the Medical Industrial Complex to the tune of $51 billion per month. That’s cutting off money to support an already over-inflated physical infrastructure of beautiful high-tech (often empty) buildings that you pay for.
But, truth be told, the way we were getting healthcare a year ago was not sustainable anyhow, costing us more than anywhere else in the world — at 18% of our GDP. It is time to tear down the Medical Industrial Complex and rebuild healthcare in America.
COVID-19 accelerated a much-needed evolution of healthcare delivery in America. But building on this will require a bipartisan solution, because “Medicare for All” […]
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