Posted on 03/06/2025 3:34:03 PM PST by where's_the_Outrage?
Elon Musk knows rockets, AI, and electric cars, but does he understand healthcare? Mark Cuban seems to think he doesn't.
When Musk posted on X in December questioning why Americans pay so much for healthcare without seeing real value, he echoed a frustration shared by millions. Citing the fact that the U.S. has the highest healthcare administrative costs among Organization for Economic Co-operation and Development countries, an account called The Rabbit Hole pointed out the disparity.
Musk responded bluntly: "Shouldn't the American people be getting their money's worth....
Cuban laid out seven ways those contracts are keeping drug prices high and hurting employees. His exact list stated:
Don't control your claims data
Don't control your formulary
Have to pay more for "Specialty Drugs" that have nothing special about them
Get rebates that are paid for by your sickest and oldest employees and result in higher deductibles and co-pays that impact the wellness of your workers and their families.
Cause independent pharmacies to be reimbursed for less than their costs for brand drug scripts for your employees and families, causing them to go out of business.
Can't talk to manufacturers to put together wellness programs for things like GLP1s.
Signed a PBM contract with an NDA which prevents you from publicly discussing your PBM contract, resulting in an opaque, inefficient market, which leads to higher prices and lower quality of care for the entire country.
"All of this allows the big PBMs to continue to distort the pharmacy market for literally EVERYONE," he wrote.
(Excerpt) Read more at msn.com ...
IS CUBAN helping or hindering MUSK???
its BECAUSE of government regulation
that’s easy: because it’s gov’t run (not market run), and illegals and welfare queens and kings feed with impunity at the trough.
That was better than Cuban’s reasoning
I can’t tell whether it’s the author or Cuban who is completely inarticulate.
The only thing that ever comes out of Mark Cuban’s mouth is self owns and stupidity, so I know this article isn’t gonna be inaccurate
“IS CUBAN helping or hindering MUSK???”
That’s easy. He’s doing one under the guise of the other.
I have been asking this question, in detail, here on FR for 20 years. Its one of the largest US financial problems in every sense.
But I am not Musk. Its amazing that so many people have argued bitterly about how to pay for medical care, but very few have bothered with why its so expensive, which is the root of the problem.
Illegals
Kickbacks
Grifting
Billing for things never used/administered
Higher prices for people with insurance
Running up bills with unnecessary charges
CEOs huge salaries
I did the ordering for my department for many years. We could only use certain vendors. If I went to Best Buy for office supplies it would be 1/10th of the cost than ordering from the hospital approved vendors.
We might consider increasing the number of doctors and nurses, etc. Right now the feds pay for most residencies for doctors (I know this because my daughter is an MD).
‘ Notice there’s no mentioned of forced government extensive reporting, mandated healthcare, uninsured healthcare expense, illegal immigrants, lawfare, and malpractice insurance.’
All industrialized countries face the same problems.
‘ its BECAUSE of government regulation’
European countries have less regulation? Is that your actual position?
Third-party payments for medical care don't adhere to typical economic principles of supply and demand because there are three parties to every transaction, not two. This is not a serious problem with something like life insurance because there a finality about death that makes the claims process and the aftermath much more clear, but for health and property/casualty insurance it introduces a potential flaw that often rears its ugly head. If I crash my car and file a claim, we have three parties to the transaction who operate under conditions that do not apply to a "pure" economic transaction:
1. I have already paid for the insurance, so I really don't care how much it costs to fix the car -- I want the best parts, best service, etc.
2. The insurance company doesn't have to drive the car around, so it doesn't really care about the quality of the repair and is perfectly willing to accept something that is sub-standard by my standards.
3. The body shop is dealing with two "customers" who have two different goals in mind in the transaction.
This three-way dilemma also applies to medical insurance, and is why the problems you perceive in medical insurance are almost identical to the problems many states have encountered in auto insurance.
And you can thank Mark Cuban and the Alt Leftist Democrat party who rammed thur Obamacare for all of it.
Yes, I believe it’s paid out of the Medicare fund.
“And for those reasons—I am not going to invest”....Said Cuban, maybe....
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