What he doesn't discuss is the profit margins of the healthcare industry. We have police, fire departments, and a military all to protect our citizens and are not profit motivated. But health care profit motivated it's insane! Health should be a right not a commodity!!!
A huge thank you to the team at USAFacts!!! I have been in healthcare and life sciences industry for nearly 30 years and this is the first time I have ever seen the real facts being published. During my career I have attempted to communicate these facts including the references to the government databases. However, people do not want to accept this information. The reasons are typically two fold. First is the personal reality experienced when you are sick versus when you are healthy. While the sick population is significantly smaller than the healthy population, the emotional, time, and financial costs have a devastating impact. The second is the healthcare system juxtaposition of clinical outcomes data and overall cost. It would be a good balance to show some of the government epidemiology data to set some context here. While death rates are one measure of health outcome, life expectancy and even quality of life add to the emotional dynamics and begin to link to the personal experience. Please note that while your focus is on the US data, a counter argument typically compares our outcomes to other western global economies. It is much more difficult to quantify how the wealth and innovation of our capitalistic healthcare system affords the rest of the world this opportunity. Add in cultural lifestyle choices and most other countries start with a healthier population. This is one the most complicated ethical dilemmas of our time. Thanks for the facts!!
Very interesting stats. Of course the main reason private health insurance is so much less expensive, is that their main customer base are relatively healthy working populations. Premiums after 60 are VERY expensive and once we stop working the premiums go up almost exponentially, causing older people to retreat into Medicaid and Medicare and the dreaded HMO models.
Dreaded HMO models? My HMO is great. They're very pro-preventative health care. The doc's ask you to take good care of yourself, by reminding you to get regular checkups and care.
Purrrfect example of " befuddle with bs, bedazzle with bs". Never addressed that insurance companies and drug companies are sucking $$ from medicare two ways: upcharging medicare and forcing medicare to NOT negotiate drug pricing ( ie they get what they feel like is fair...really!!). Hence, Public medicare costs are zooming up!
I like this channel and it's philosophy. I'm not a fan of separating money the government spends in health care costs from that of American citizens. The government generates revenue primarily through its citizens.
I take issue with his characterization of private administrative costs being less because their total cost is less when public programs require only a third as much per capita than private.
In short - all the major corporations have gigantic profit margins and make billions of dollars of easy cartel profits each quarter ! God bless Luigi !
Interesting that he didn't mention inflation, even when reporting the out of pocket "decrease" on per-person prescription costs. A GDP deflator is most common.
You’re saying that private insurance spends less. It seems that you think this is a good thing, but do they spend less because they deny insurance claims?
I sure hope Oz doesn't make medicare advantage mandatory as I have read he will. I want nothing to do with a for profit insurance company making medical decisions. We all know where their sympathies will lie.
Health insurance is ridiculously complicated. What percent of what service/drug is covered, premium, deductible, copay, coinsurance, multiple tiers for drugs and doctors. Insurance companies say that is how they controls costs. YES - Their costs i.e. Profits to share holders. Plus their Ins Lobby determines what an illness is. My 35yr old daughter has long term Lyme disease . Lyme disease still not considered an illness. I'm 75 yrs old. I had to spend $35,000 from my 401K so she could get treatment outside of the US. The whole concept of insurance is that the cost is distributed across the insured group. OK - A deductible to make folks think first to decide if something is really needed. BUT; Everyone should have the same coverage. And; Pay the same premium.
"What percentage of what?"...oh that is the question. You just don't know, you're in the dark. No physician has a pricelist for their services. It's all in codes.
Half the video is about death, despite the title talking about healthcare. Also, wouldn‘t it be more interesting to have a comparison with other developed countries?
"You decide what you believe" strikes me as an odd closing line once you've provided facts. Would you consider either sticking with your voting point or trying something like: You decide what to do? Facts just don't make sense with belief. Altrnatovely: These are just the facts, folks.
I have a hard time believing that administering Medicare is more expensive than private health insurance= seems fishy- Corporate for profit healthcare has to pay stockholders, CEO's millions,, advertising costs, underwriters for preauthorizations etc Does that not come out of premiums paid to them?
The way the information is presented is pretty shotgun, for instance the cause of death by age group would have been better as stacked bars, with a slower pace. This would allow time to actually get a picture of how things change over time. Also a big chunk of the causes of death in each age group was undefined and also not discussed. Could have done a much better job of covering deaths associated with alcohol which can be poisoning, accidents involving alcohol, and diseases caused by it such as liver disease.
Steve, please don't skip over how much our premiums have increased since Obamacare started. Also, some discussion regarding government....US people...funding what used to be largely private institutions. Do government subsidized programs end up costing US all more? Do we get gouged by capitalism when tax money is thrown at private institutions?
Just the facts mr gradgrind. Gradgrind noun Grad·grind ˈgradˌgrīnd plural -s : one that is patently and usually as a matter of outspoken policy marked by a materialistic and philistine outlook : an uninspired and assiduous seeker after facts. . . What is the point of this?
What he doesn't discuss is the profit margins of the healthcare industry. We have police, fire departments, and a military all to protect our citizens and are not profit motivated. But health care profit motivated it's insane! Health should be a right not a commodity!!!
A huge thank you to the team at USAFacts!!! I have been in healthcare and life sciences industry for nearly 30 years and this is the first time I have ever seen the real facts being published.
During my career I have attempted to communicate these facts including the references to the government databases. However, people do not want to accept this information. The reasons are typically two fold.
First is the personal reality experienced when you are sick versus when you are healthy. While the sick population is significantly smaller than the healthy population, the emotional, time, and financial costs have a devastating impact.
The second is the healthcare system juxtaposition of clinical outcomes data and overall cost. It would be a good balance to show some of the government epidemiology data to set some context here. While death rates are one measure of health outcome, life expectancy and even quality of life add to the emotional dynamics and begin to link to the personal experience.
Please note that while your focus is on the US data, a counter argument typically compares our outcomes to other western global economies. It is much more difficult to quantify how the wealth and innovation of our capitalistic healthcare system affords the rest of the world this opportunity. Add in cultural lifestyle choices and most other countries start with a healthier population.
This is one the most complicated ethical dilemmas of our time. Thanks for the facts!!
Very interesting stats. Of course the main reason private health insurance is so much less expensive, is that their main customer base are relatively healthy working populations. Premiums after 60 are VERY expensive and once we stop working the premiums go up almost exponentially, causing older people to retreat into Medicaid and Medicare and the dreaded HMO models.
Dreaded HMO models? My HMO is great. They're very pro-preventative health care. The doc's ask you to take good care of yourself, by reminding you to get regular checkups and care.
Agreed. I recall several decades ago the then "new" HMOs were really dreaded. But for years now most seem just fine.
Recommend another video comparing us healthcare costs with other countries
Very interesting data
Purrrfect example of " befuddle with bs, bedazzle with bs". Never addressed that insurance companies and drug companies are sucking $$ from medicare two ways: upcharging medicare and forcing medicare to NOT negotiate drug pricing ( ie they get what they feel like is fair...really!!). Hence, Public medicare costs are zooming up!
I like this channel and it's philosophy. I'm not a fan of separating money the government spends in health care costs from that of American citizens. The government generates revenue primarily through its citizens.
I take issue with his characterization of private administrative costs being less because their total cost is less when public programs require only a third as much per capita than private.
Great video Steve
In short - all the major corporations have gigantic profit margins and make billions of dollars of easy cartel profits each quarter !
God bless Luigi !
curious: why did you ignore the dramatic drop in FLU deaths during the Covid years? You covered the drop in car accidents as precedence .
"Just the Facts, Ma'am"
First the Health, then the Wealth, last but not least, the Care. 😎
I wonder if the longitudinal data on drug payments is corrected for inflation or whether it is in 1980 dollars. Great video!
As a American we try not to look to hard into it n just have a good time
I didn't hear anything about maternal and infant mortality rates or anything related to those health issues. Maybe they can make a part 2?😅
Love the data
Ya lost me on administrative costs. The US pays twice as much as other western countries AND gets a lesser result. You know that Steve.
Numbers are interesting but lack a lot of context.
Developers. Developers. Developers. Developers! Developers! Developers! Developers! Developers…..
Interesting that he didn't mention inflation, even when reporting the out of pocket "decrease" on per-person prescription costs. A GDP deflator is most common.
Out of the $1.2T paid into the healthcare system, what percentage of that went to paying insurance company CEO salaries?
You’re saying that private insurance spends less. It seems that you think this is a good thing, but do they spend less because they deny insurance claims?
Why is there almost a 4 year gap between Canada and the US for life expectancy for males 81.3 vs 77.4 years. The US is rated 60th in the world.
Diet
Insurance for health care is like insurance for a boat with a water leak you haven't found yet. Ridiculous. That's not insurable.
I sure hope Oz doesn't make medicare advantage mandatory as I have read he will. I want nothing to do with a for profit insurance company making medical decisions. We all know where their sympathies will lie.
Health insurance is ridiculously complicated. What percent of what service/drug is covered, premium, deductible, copay, coinsurance, multiple tiers for drugs and doctors. Insurance companies say that is how they controls costs. YES - Their costs i.e. Profits to share holders. Plus their Ins Lobby determines what an illness is. My 35yr old daughter has long term Lyme disease . Lyme disease still not considered an illness. I'm 75 yrs old. I had to spend $35,000 from my 401K so she could get treatment outside of the US. The whole concept of insurance is that the cost is distributed across the insured group. OK - A deductible to make folks think first to decide if something is really needed. BUT; Everyone should have the same coverage. And; Pay the same premium.
"What percentage of what?"...oh that is the question. You just don't know, you're in the dark. No physician has a pricelist for their services. It's all in codes.
@@marciamartins1992 Yes - The codes determine what percent you pay and what percent insurance pays.
Half the video is about death, despite the title talking about healthcare.
Also, wouldn‘t it be more interesting to have a comparison with other developed countries?
600 people are still dying of COVID-19🦠 per week in USA. What? 🙄😳😳😳
"You decide what you believe" strikes me as an odd closing line once you've provided facts. Would you consider either sticking with your voting point or trying something like: You decide what to do? Facts just don't make sense with belief.
Altrnatovely: These are just the facts, folks.
“Just the facts”, followed by “you decide what you believe?” No…. It’s simply these are “just the facts.”
I have a hard time believing that administering Medicare is more expensive than private health insurance= seems fishy- Corporate for profit healthcare has to pay stockholders, CEO's millions,, advertising costs, underwriters for preauthorizations etc Does that not come out of premiums paid to them?
8 comments for 5.1M views
abc
Deer in the headlights?
5.1M views with only 1 comment?
I was aiming to be the second commenter but you took my spot, so now I am aiming to be number 3
Good stuff, Steve!! Keep up the good work!! We ALL need this unfiltered data!! 🏆
7:21 Obesity Doubled from 1995 to Today.
Why are USA facts on crime statistics so limited? Seems like you are avoiding demographics stats on crime.
Steve aka Lil Ross Perot
It is selective in info and tweaked. Private industry yeah sure
Lol a beautifully cherry picked stating of "just the facts" from a guy worth over 100 billion. I'm sure he doesn't have any axe to grind.
I suggest you personally check the government sources. All this data and most of the analysis is done by the government and publicly available.
Not as much as you cherry picked your brain cells.
The way the information is presented is pretty shotgun, for instance the cause of death by age group would have been better as stacked bars, with a slower pace. This would allow time to actually get a picture of how things change over time. Also a big chunk of the causes of death in each age group was undefined and also not discussed. Could have done a much better job of covering deaths associated with alcohol which can be poisoning, accidents involving alcohol, and diseases caused by it such as liver disease.
@@LadyMiner100 I mean, there's a reason people like his videos. If you know how to make even better ones, RUclips is free.
Steve, please don't skip over how much our premiums have increased since Obamacare started.
Also, some discussion regarding government....US people...funding what used to be largely private institutions.
Do government subsidized programs end up costing US all more? Do we get gouged by capitalism when tax money is thrown at private institutions?
😅😅😅!
Just the facts mr gradgrind. Gradgrind
noun
Grad·grind ˈgradˌgrīnd
plural -s
: one that is patently and usually as a matter of outspoken policy marked by a materialistic and philistine outlook : an uninspired and assiduous seeker after facts. . . What is the point of this?
You are suposed to use your brain.