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The People's Pharmacy

Show 1114: How Health Care Became Big Business (Archive)

The People's Pharmacy

Joe and Terry Graedon

Kids & Family, Medicine, Health & Fitness, Alternative Health

4.61.2K Ratings

🗓️ 4 July 2019

⏱️ 58 minutes

🧾️ Download transcript

Summary

The American health care system is a $3 trillion mess. Although it has significant technological sophistication, this big business doesn’t seem consistently able to get appropriate treatments to the patients who need them. Millions of people have no insurance, or the insurance they have doesn’t cover the care they need. Increasing premiums and unexpected bills can put families under great economic pressure or even send them into bankruptcy.

Medicine as Big Business:

We look at the business of medicine and how it evolved. Health care was once considered a nonprofit industry. How did profit come to dominate it so thoroughly? Now, some cancer centers may charge nearly half a million dollars for a new treatment. Few individuals can afford that, and eventually insurance companies will find it challenging to pay. Is there anything that can be done to change this situation?

An American Sickness:

Dr. Elisabeth Rosenthal has examined the conditions that culminated in our current health care system. She has also looked at the consequences for American health. You’ll definitely want to hear about the rules that the dysfunctional economic system of health care uses.

In addition to analysis, she offers suggestions for both individual and collective action to turn health care around. How can you make sense of your hospital bills? What can you do to reduce the chance of an unexpected out-of-network charge? Learn what political action could take health care back from big business.

This Week’s Guest:

Elisabeth Rosenthal, MD, is editor in chief of Kaiser Health News, an independent newsroom focusing on health and health policy journalism. Before that, Dr. Rosenthal earned her medical degree from Harvard Medical School and practiced as an emergency physician. She spent twenty-two years as a reporter, correspondent and senior writer at The New York Times.

Her book, out in paperback, is An American Sickness: How Health Care Became Big Business and How You Can Take It Back.

The photo of Dr. Rosenthal is by Nina Subin.

Listen to the Podcast:

The podcast of this program will be available the Monday after the broadcast date. The show can be streamed online from this site and podcasts can be downloaded for free. CDs may be purchased at any time after broadcast for $9.99.

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Transcript

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0:00.0

Hi, I'm Joe Grady. I'm Terry Grady. Welcome to this podcast of the People's Pharmacy,

0:07.0

where we bring you the stories behind the health headlines.

0:10.0

This podcast is brought to you by Reddick's Industries makers of utterly smooth body cream.

0:16.0

800, 345, 7339 on the web at utter cream.com. Have you ever tried to make sense of a hospital bill.

0:25.0

Have you ever tried to make sense of a hospital bill?

0:34.0

Even doctors can have trouble figuring out what all those numbers mean.

0:38.0

This is the People's Pharmacy with Terry and Joe Grady.

0:43.0

Health care has become big business.

0:50.0

In 2016, health expenditures amounted to

0:55.4

more than three trillion dollars. That's far more per capita than any other

0:59.4

country in the world. What does that mean for the health care we receive?

1:03.6

Is our system sustainable? Why doesn't more competition result in lower prices?

1:09.6

Drugs for cancer can cost over $150,000.

1:13.8

Even with insurance co-pays can be unaffordable.

1:17.5

Coming up on the People's Pharmacy,

1:19.5

we talk with Dr Elizabeth Rosenthal

1:21.5

about how health care became big business.

1:25.0

First, this news.

1:27.0

In the People's Pharmacy Health Headlines, a randomized trial of calcium supplements has

1:36.0

revealed an unexpected complication.

1:39.2

Doctors have been recommending calcium pills both to strengthen bones and to lower the risk of

1:44.1

colorectal cancer. The new study of more than 2,000 Americans showed that people

...

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