when did the U.S health care System go
from a philanthropic program to a
multi-billion dollar industry how does
it make you feel to know that the
richest country is the only one in a
developed world without Universal Health
Care the same country spends the most on
health care and has the lowest life
expectancy
over half a million Americans file for
bankruptcy due to medical bills if I get
a chance to fight the pharmaceutical
industry and if that's not enough how
would you feel if you have to pay to
hold your own baby after giving birth
how to do that yes to hold my own child
that I've been carrying inside of my
womb these are the countries around the
world with Universal Health Care even a
poor Nation like Rwanda has one but the
United States doesn't make any sense I
made the biggest mistake of my life a
couple years ago I got sick in America
no health insurance U.S prescription
drug prices surpassed those in 32 other
countries by around
150 percent the average cost of an MRI
scan in the United States is three
thousand Thirty One dollars compared to
811 in New Zealand and 181 dollars in
Spain
the cost for hip replacement in the U.S
is around 29 067 where in Spain is
6757. everything in the health sector in
the US is for profit and it's not for
the sake of the human life I am sharing
this with deep sadness because I have
experienced the health system in the U.S
and here in Spain and if you're living
anywhere in Europe you're probably
really shocked to find out that a
country like the US has such a poor
health system and when I say poor I mean
poor for the people not for the
profiteers because this system it's
solely based on profits making money and
it's Again The Usual Suspects like
BlackRock and Vanguard the companies
that own big pharmaceutical companies
now that's the problem like whether it's
Insurance big Pharma big medical the
pressure is so high to hit those
quarterly earnings and produce for walls
Street it is not about patience it is
not about patient outcomes it is not
about helping people Johnson and
Johnson's net earnings are expected to
be about 20.9 billion US dollars in
2021. Johnson Johnson has experienced
dividend growth for nearly 60 years and
has consistently outperformed the S P
500 over the past 25 years institutional
investors own a 70.54 of the outstanding
shares of Johnson and Johnson giving
them a majority stake in the company
this interest is also greater than any
other pharmaceutical firm if you're
living in Europe you're probably pretty
shocked that America has such a bad
Health Care System the reason is because
here in Europe you most likely have a
free health care plus you can purchase
your own private insurance
and that's affordable in United States
everyone is really confused when it
comes to Health Care the insurance
company knees have such a monopoly over
the whole system and even when you're
picking on insurance you don't even know
what it covers what are the deductibles
what are the what are the co-payments
there's nothing really free and it's
extremely expensive the prices at the
hospitals and doctors visits are blown
out of proportion nobody knows what are
the exact charges they're supposed to be
charged same Insurance can charge you
different prices
for the same procedure nobody has a grip
over that especially the patients the
cost of consumers should go down too but
that hasn't necessarily been the case
and a lot of that has to do with the
Billing System
the poorest people are the ones
suffering and if you think that in the
most critical situation when you have to
go to the emergency room you're covered
think twice because even if you're
insured in so many cases the medical
bill from the emergency room is not
included so many things the reason is
because some of the doctors at the
medical room might be part of a
different Medical Group
some of the supplies used to treat you
or to do tests anything that is used in
the emergency room can be part of a
different Medical Group and your
insurance can be covering just part of
it but of course there is no way to know
because nobody knows definitely not the
patience team Health a medical staffing
group backed by private Equity Titan
charges several times the cost of
emergency room care this is the anatomy
of an ER Bill where the charges were 7.7
times more and even though a big amount
was not collected a hefty 10 percent
went to corporate profits these
companies put a white coat on and
cloaked themselves in the Goodwill we
rightly have towards medical
professionals but in practice they
behave like almost any other private
equity-backed firm their desire is to
make profit
the American Hospital Association
declined to comment on criticisms of the
current hospital system don't make the
mistake of getting sick in the United
States the people that are covered by
the government with Government funding
with Medicare and medical are people who
are retired or disabled or really poor
you cannot choose your physician their
limitations to your coverage it doesn't
give you the freedom to choose basic
things I would be very happy to read in
the comments how is the Healthcare in
your country are you experiencing any
issues with the health system is
everything smooth what are the insurance
policies let me know here in Spain like
in many countries in Europe you can pick
your own insurance private insurance
there are no hidden costs there are no
deductibles there is nothing imaginary
about your insurance you have a price
which you pay every month and it can
slightly change over the years very
slightly but the price that you pay for
about 90 euro a month you're getting a
full coverage I don't pay anything
additional to the doctor I can go and
order blood panels if I want to every
week every three days and nobody is
going to question that for comparison I
found an insurance company in Illinois
and their lowest tier plan they have
different plans right that differ in
prices the lowest year plan it's called
catastrophic
the pharmaceutical companies hold
patents over each drug they manufacture
when this pattern expires they have to
review the drugs change the wording add
some substance or
reformulate the product a few years ago
when the opioid crisis in America
started which sickens me and it makes me
so mad they came up with a drug called
Oxycontin this drug was supposed to
treat only terminally ill patients
apparently it started selling so well
and it's so highly addictive that it
just made all these billionaires even
happier they did not reformulate it they
changed the wording we take the extended
time release of the cotton system and
create a new opioid specifically
designed to treat moderate pain for
long-term use and when they start seeing
that people are getting so addicted to
the drug they said that they're
experiencing a
pseudo symptoms and they need more of
that medication it became a real
epidemic the time has come
redefine the nature of pain
the current opioid crisis it's one of
the most severe Public Health disasters
in modern history it started in the mid
90s when the powerful agent Oxycontin
marketed by Purdue farmer and approved
by the Food and Drug Administration
provoked the first wave of deaths
associated with the use of legal
prescription opioids Dr Fenix did more
than one percent of your patients become
addicted oxygen without urgent
intervention 1.2 million people in the
United States and Canada Dr Phoenix will
die from opioid overdoses by the end of
the decade I can't believe how many of
them are good now
I cannot imagine another government
allowing this to happen I think this is
this is just beyond any comprehension I
would like you to hear what a former
medication sales rep
has to say what was it like being a drug
rep as soon as insurance took over and
we moved to an insurance model and the
industry had moved to hiring
good-looking young people who will go
out and hustle more of like sales type
people who have no clinical background
you're going to pay me this much money
and all I got to do is go talk to
doctors about this new drug that they
all want to talk about you will become
best friends with the most important
practitioners in this region that's the
only way you you'll sustain your job
it's the only way you'll be successful I
want to finish this conversation in a
little bit more positive no if you can
if you can move if you want to move and
have a better health care even for
procedure I think it's worth exploring
different places even if it's not for
permanent stay it doesn't have to be
Europe it can be Mexico anything that's
close to the U.S it's more affordable
it's better prescription drug prices
remain Out Of Reach for many Americans
who pay among the highest prices in the
world Mark Cuban who's worth an
estimated 4.5 billion dollars has had
enough and just like that Cuban is
taking on these absurd markups Mark
Cuban who is an entrepreneur and he
knows a thing or two about business
so he's not a socialist he is so much
about capitalism and making money he
created something which is admirable he
calls it a compassionate capitalism he
decided to create a company to get more
affordable drugs to people this leukemia
medication goes for about two thousand
dollars at many pharmacies Cuban's
company sells it for as low as 17 and 10
cents Landon was paying three thousand
dollars a month it's now going to cost
him 63 dollars a month
oh wait wait I was wrong no I was wrong
63 for three months
the medications that they're providing
are sold online they're getting them in
bulk buying them and selling them for
very little profit they're saving people
over 70 80 sometimes 90 percent of the
cost of the medication it'll show you
not only what we sell it for it'll show
you our cost and like actual cars actual
cost but we really pay for it we market
up 15 that's it we have a three dollar
Pharmacy fee and five dollars for
shipping that's it so there are new ways
hopefully there is more transparency
coming even though there's so many
lawsuits against these companies that
are destroying people's lives I think
people like Mark Cuban and others that
are working towards a better future are
the future also I think everyone should
just try to stay healthy emphasize on
preventive care make sure you're eating
a balanced healthy diet exercise nice
value your connections try to laugh more
and just be happier so these are one of
the small things we can try to do to
just have a better and healthier life
and I hope the people that are coming
soon to Spain or to Europe are going to
have that life wishing you all the best
and I will see you in my next one ciao
what do you think of the people who are
profiting off the sale of these
medicines
your bastards