The focus is mainly on insurance which is one of a three-headed beast. The other two are Hospitals and pharmaceuticals. These three components make up the problem that is American healthcare. First, we need to look at itemized bills; the hospital charge a price, let’s say 10k, that covers all the products used(pharmaceuticals, equipment) the hospital charges, conservatively, 3x the retail price of the medicine. Even though most medicine used in hospitals are not new medicines but mostly have generic names available. The hospitals pay a discounted rate because they order in bulk. Then the insurance comes in and “negotiates” a lower price from the initial amount. It’s probably just a program they run that automatically deducts a specific amount based on predetermined prices.They have cornered the healthcare market and can charge whatever they want, and we can’t do anything. This is the problem; is not just insurance.
How do we fix it?
First, make it illegal for the big three pharmaceuticals, hospitals, and insurance to communicate and conspire and profiteer. Competition makes lower prices.
Secondly, cap the amount the hospitals can charge on the products per use 20-30% instead of 300% Just the products, not the employees. Also, we need to raise the threshold on which doctors and hospitals can be sued. That way, insurance for doctors and hospitals goes down, and they don’t have as many payouts. The hospitals can have more money to pay their employees. Medicine is complex; being able to sue a doctor or hospital needs to raise to the level of egregious and blatant acts. This will also help doctors and hospitals with mitigation medicine instead of reactionary medicine. Meaning they can be more aggressive in treatment because the fear of being sued is gone and dealing with insurance wanting to go from least expensive to most.
Third, pharmaceuticals need to be incentivized to make new medicines like antibiotics, cancer treatments things of this nature. We extend the patent life to a longer period, so they don’t have to charge as much but still can recoup the costs of R&D over a longer period because R&D is expensive. To make the company profitable, especially for small biotech companies, that way they don’t get bought out by more prominent companies.Hospitals and Insurance won’t approve the medicine if it’s too expensive. That’s how we apply the check and balances to the system through the use Healthcare is an industry that isn’t going anywhere. They don’t need to create more income than the previous year to appease stockholders about growth. Healthcare shouldn’t bankrupt people. It should not be one of the biggest holder of debt in America. I believe Universal healthcare is guaranteed in our Declaration of Independence. It states Life, Liberty, and the Pursuit of Happiness. Life, the ability to live with better medicine, we have almost doubled the average lifespan of American people from when our country was founded.If everyone were to get the healthcare, they need Liberty, and the Pursuit of Happiness can be upheld. When you’re not healthy all those things stop.I believe doing these things will help stem the current healthcare crisis until a better solution can be reached.