Berkshire Hathaway is teaming up with JP Morgan Chase and Amazon to figure

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Feb 18, 2018
12:05:32am

crazY All-American

Berkshire Hathaway is teaming up with JP Morgan Chase and Amazon to figure

out how to cut healthcare costs.

Charlie Munger went so far as to call rising healthcare costs 'evil' and thinks measures can be taken to lower the cost of healthcare.

https://finance.yahoo.com/news/charlie-munger-rising-medical-costs-us-evil-191934214.html

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crazY

Bio page: crazY
Joined: Sep 6, 2010
Last login: May 2, 2024
Total posts: 53,864 (30,273 FO)

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Messages

Author

Time

Berkshire Hathaway is teaming up with JP Morgan Chase and Amazon to figure

crazY

2/18/18 12:05am

Make doctors and hospitals have pricing available up front

Fetchin Fetcher

2/18/18 12:09am

That, capping medical malpractice suits (unless the case is severe), and

crazY

2/18/18 12:19am

TX has a cap. Hasn't really slowed the growth in healthcare costs here though.

CougarThug

2/18/18 12:21am

But it has helped Texas recruit and retain physicians, which is a good thing.

Game Changer

2/18/18 12:23am

Oh yes, retaining good doctors would help a lot, too. Medical malpractice does

crazY

2/18/18 12:25am

I have a great doc. Just hope he can keep practicing.

CougarThug

2/18/18 1:00am

Took me four years to find a Houston doc whose primary language is English.

CougarThug

2/18/18 12:41am

Isn't it like 250k and then you have to file a different suite for lost wages, use of limb etc?

Fetchin Fetcher

2/18/18 12:24am

I think the $250K is for "non-economic" damages, i.e. pain & suffering, etc.

CougarThug

2/18/18 12:47am

That's what I was getting at, thanks for wording it better

Fetchin Fetcher

2/18/18 12:48am

This is why I said unless the case is severe:

crazY

2/18/18 12:29am

I like the idea, but you get into ethical questions when deciding whether or not

Game Changer

2/18/18 12:22am

What if your hospital charges X amount, but there's a doctor that just does cat scans

Fetchin Fetcher

2/18/18 12:26am

Which drugs do you prescribe when pharma & ins are pushing their favorites...

CougarThug

2/18/18 12:28am

If you are going to a place where the doctor who examines you also owns an MRI

Game Changer

2/18/18 12:34am

Mistake yes. But how is the victim to know ahead of time?

CougarThug

2/18/18 12:47am

This is already illegal. Re: Stark Laws.

SportsDoc

2/18/18 12:57am

Pretty sure that only applies for Medicare & Medicaid patients.

CougarThug

2/18/18 1:04am

Stark laws are for Medicaid and Medicare providers.

2/18/18 10:17am

while this will help most people won’t care. Those on insurance and those on

cougarfann888

2/18/18 12:22am

Would it drop the price of insurance though? If insurance companies can pay the lesser "cash" price?

Fetchin Fetcher

2/18/18 12:28am

Too many patients are too removed from payment that upfront pricing won't matter

wabluecoug

2/18/18 12:27am

Also, make doctors wear patches on their coats of the pharmaceutical companies that are wining and dining them

Fetchin Fetcher

2/18/18 12:30am

This doesn't happen anymore

2/18/18 12:33am

How does it work? With pharmaceutical sales. Does it just go straight to a board or something?

Fetchin Fetcher

2/18/18 12:35am

Docs used to get crazy and excessive money thrown

2/18/18 12:52am

Now they get to market directly to the ignorant consumer and let them bug the Dr

wabluecoug

2/18/18 12:36am

Yeah, that's true. Isn't the U.S. one of the few countries that allows drug advertising? I think I remember hearing

Fetchin Fetcher

2/18/18 12:38am

Ever hear of TRICARE and the $100+ million kickback scheme?

CougarThug

2/18/18 12:54am

It's not SUPPOSED to happen. Were there punishments?

Fetchin Fetcher

2/18/18 12:56am

That was one of the things that lead to the new regulations implemented in late

cougarfann888

2/18/18 1:00am

Most doctors have very little to do with pricing in the first place.

SportsDoc

2/18/18 1:06am

To clarify a little, when I said doctors I didn't mean the individual physician.

Fetchin Fetcher

2/18/18 1:23am

That already exists in some practices.

2/18/18 2:56am

Medical expenses are tax deductible only if your employer pays them

BYU'01

2/18/18 12:34pm

Make them subject to the Sherman and Clayton antitrust acts. When they became a business instead of a profession, they

Smack'sWife

2/18/18 4:48pm

Impossible to have pricing available up front. At least in the hospital setting. No way to tell the direction your

2/19/18 12:33pm

A hospital is not just an ER. I get what you're saying and I think I brought it up in another post

Fetchin Fetcher

2/19/18 12:54pm

I find it interesting that people devoting their lives

2/18/18 12:26am

Well, what they really want to do is increase their bottom line. The less money

crazY

2/18/18 12:31am

BIG difference between housing market and exploitation on medical necessity

Dissenter

2/19/18 9:26am

Here's how I think this goes down:

UberDeek

2/18/18 12:53am

while pretending that hiding the costs is the same as reducing the costs.

CougarThug

2/18/18 1:06am

Imagine Amazon or Costco Starts a Healthcare Buyers Group.

Tsisquan

2/18/18 12:54am

I'd love insurance with a 50k deductible.

HarlemCoug

2/18/18 1:09am

If market forces were truly at play

Tsisquan

2/18/18 1:46am

People don't realize it yet, but this is a game-changer, and I think may have

jaba166

2/18/18 3:16am

I love your optimism but I have a hard time calling this

2/18/18 10:21am

Actually, they've clearly stated they plan on a transparent, non-profit entity.

jaba166

2/18/18 10:38pm

No. What they're teaming up to do is figure out how you pay them for healthcare instead of insurance companies.

SpiffCoug

2/18/18 7:11am

Bingo. I think this will end up being true. They will squeeze others until they

2/18/18 10:22am

Healthcare is evil. Only the upper class can afford ‘good’ healthcare

Croweater

2/18/18 7:40am

Not true. Even the lowest of income get more health care benefit than what they

kotacoug

2/18/18 7:43am

Only because they are on Medicaid

Croweater

2/18/18 7:50am

Rising care of health costs are because of the administration bloating

goofball

2/18/18 8:17am

Yep

2/18/18 10:25am

The solution is simple but can big business put down their ledgers and do it?

ArchbishopMitty

2/18/18 9:53pm

guy I work with wife has lupis. She just got out of her second stint in the

bald man

2/19/18 6:16am

This whole thread is full of people who have no idea what they’re talking about, but this might be the winner

SJS

2/19/18 6:20am

just repeating what her husband said they did. I've no clue what they did.

bald man

2/19/18 10:18am

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