For our inaugural episode of Midwest Misfits, we discuss healthcare and head off on many tangents surrounding this complicated and divisive topic. From Obamacare problems to pharma drama, Healthcare is the hot button issue for the 2020 election. Let’s talk about what we know and learn some lessons about the things we don’t.
“The Organization for Economic Co-operation and Development (OECD) is an international organisation that works to build better policies for better lives.”
According to data from OECD, the US government spent $10,209 on healthcare per capita, or per person, in 2017…
That’s more than any other country in OECD’s 36-country consortium, and over $2,000 more than Switzerland, the second-highest spending country.
US spends 16.9% of GDP. All other countries spend about 8.8% of their GDP on Healthcare. For example, Switzerland is at 12.2% and the next closest to the US on spending.
THE USA SHOWCASES: Higher spending does not correlate to better outcomes or use of healthcare.
WHAT IS A SINGLE PAYER SYSTEM?
Physicians for a Medicare for All Nonprofit Agency states:
Single Payer is a system in which a single public or quasi-public agency organizes health care financing, but the delivery of care remains largely in private hands. Under a single-payer system, all residents of the U.S. would be covered for all medically necessary services, including doctor, hospital, preventive, long-term care, mental health, reproductive health care, dental, vision, prescription drug and medical supply costs.
- This is public/ private partnership- we cover everyone- but those providing the care are still managed by private companies.
- Over $500 billion in administrative savings would be realized by replacing today’s inefficient, profit-oriented, multiple insurance payers with a single streamlined, nonprofit, public payer. Insurance companies would no longer spend their budgets on marketing and advertising→ instead would actually cover care
- Premiums would disappear, and 95 percent of all households would save money. Patients would no longer face financial barriers to care such as co-pays and deductibles, and would regain free choice of doctor and hospital. Doctors would regain autonomy over patient care.
WHY EXPANDING OBAMACARE WON’T WORK
- About 30 million people will still be uninsured in 2023, and tens of millions will remain underinsured. Insurers will continue to strip down policies, maintain restrictive networks, limit and deny care, and increase patients’ co-pays, deductibles and other out-of-pocket costs.
- The law preserves our fragmented financing system, making it impossible to control costs.
- The law continues the unfair financing of health care, whereby costs are disproportionately borne by middle- and lower-income Americans and those families facing acute or chronic illness.
- Cost/ Sustainability: Large-scale cost controls (negotiated fee schedule with physicians, bulk purchasing of drugs, hospital budgeting, capital planning, etc.) ensure that benefits are sustainable over the long term.
In A Nutshell: cost savings of advertising, marketing, administrative costs, and being able to control the price of drugs, medical devices, etc… would lower costs significantly…
In 2012, the pharmaceutical industry spent more than $27 billion on drug promotion — more than $24 billion on marketing to physicians and over $3 billion on advertising to consumers. That is a total of 54 billion that could go to actually providing care
We are also exploring the candidates looking to unseat Nebraska’s, Senator Ben Sasse. For more on the Democratic candidates check out their websites listed below.
- Angie Phillips
- Alisha Shelton: https://sheltonforsenate.com/
- Chris Janicek: http://www.janicekforsenate2020.com/