High Health Cost, Part 2

Thursday, Nov. 7, 2013, 9am to 10:30 in the Meeting Room (behind the fireplace)

We will be showing the second half of the movie, Escape Fire. We will have 45 minutes after the movie for discussion. Don't worry if you missed the first half of the movie, the second half stands on its own. For those that want to see the whole movie, I have recommended to movie to be added to the Friday Bain documentary movie schedule. However, it cannot be scheduled before January. For those that want to see the movie now, I think that it is being offered free for Amazon Prime members, HERE, and there is a free one month trial membership.

We will use the issues on the website as guide for the discussion.

1. An Entrenched System
1. Employer-sponsored health insurance premiums are rising 4 times faster than workers’ earnings 
2. In 2007, General Motors & Ford spent $1500 on healthcare for each of their cars. BMW & Honda spent $600 combined.  
3. $1.1billion was spent lobbying Washington on behalf of healthcare between 2009 and 2010.
2. Overmedication
1. Only the U.S. and New Zealand allow pharmaceutical companies to advertise straight to consumers.
2. Soldiers’ use of prescription drugs has tripled in the past five years.
3. In the U.S., the more a drug is marketed to physicians, the more likely it is to be prescribed.
3. Overtreatment
1. Unfortunately, 30% of healthcare costs don’t improve health.
2. Only 1 in 16,000 Americans’ lives were saved or significantly extended by improvements in healthcare technology
3. 187,000 people die from medical error a year. Could this be the 3rd largest killer in the U.S.?
4. Paying more getting less
1. Within 6 years, U.S. healthcare costs are predicted to reach $4.2 trillion, 20% of our GDP.
2. Average cost of healthcare is about $3,000 per person in the Developed World. In the U.S. it’s $8,000.
3. For the first time in the history of our country, life expectancy is going down for many Americans.
5. Preventing Disease
1. 20% of patients account for about 80% of healthcare costs.
2. 75% of healthcare costs are spent on preventable diseases.
3. Fast food is given to U.S. patients in almost 40% of American hospitals.
6. Reimbursement
1. American daily hospital costs are $1,666. 4 times more than the rest of the world.
2. 20-50% of medical scans performed in America were unnecessary.
3. The average cost of 1 cardiac rehab session is $100. The average cost of a medicated stent procedure: $40,000.
7. Treating the whole person
1. In 2008, primary care physicians earned about half as much as specialists.
2. 1 in 5 Americans die from smoking.
3. ½ of Americans with chronic illnesses aren’t receiving optimal care due to short doctor visits.