Richard Wolff on US Medical Costs

Richard Wolff on US Medical Costs


The medical industrial complex, that
grouping of four industries in the United States: doctors, hospitals, medical
insurance companies, and the drug and appliance makers in this country. Those
four have gotten together, take care of each other, get each other’s back, in
order to charge more for medical care than in any other country on earth. And
the International Federation of health plans did a study. It was reported on (for
those of you who’d like the details) in the 28th of December New York Times if
you want a shortcut to it. But let me give you the bottom line, as they say. The
United States was compared with other countries carefully chosen to be quite
different. So let me tell you what the other countries were: Switzerland, South
Africa, the United Kingdom, Netherlands, Germany, and the United Arab Emirates, if
I have their name right. Okay. Here was the bottom line. For most procedures in
the hospital (you know, appendectomies, births, the things you go to hospitals
for), for most Hospital procedures, and for most drugs, most of the rest of the world
(get ready) measured by these countries pays less than half what it
costs to do exactly the same thing in the United States. It’s extraordinary.
It’s a wonderful summary statistic of how medical care is a gigantic ripoff in
the United States that is not equaled anywhere in the rest of the world on the
scale that we are ripped off, in classic way, by a monopoly that these four
industries have organized. It’s almost as lucrative for the medical
industrial complex as it has long been for the military industrial complex.

29 thoughts on “Richard Wolff on US Medical Costs

  1. all true. nothing will change- America is a slave and master nation. we lost the republic- we are tired, and we are most likely edging to a civil war.

  2. So what effects do they see with the rapidly aging American workforce? Will we see older workers cling to jobs to pay for healthcare? Will that block kids from getting trained up to take their place?

  3. So we need to organize a massive demonstration against the four industries which consitute the "Medical Industrial Complex".
    Protesting this complex compliments Bernie's message of Medicare For All.

  4. The ungodly cost of Medical Care may very well be the tipping point for everything to go under. It is literally not sustainable. This is one of the great crimes against the people of this nation, and it is ongoing. "Profit above all," that seems to be the motto of our society. It is also likely to be our epitaph.

  5. Dear Democracy At Work,
    Professor Richard Wolff,
    I forget where I heard but isn't this considered a cartel? Nobody can step up to the plate for a true democratic equative society less we have it in the Bill of Rights! How can we proceed to create such an undertaking? It's really quite a simple process but greed gets in the way of personal judgments. We need to write it properly with teeth! Thank you.
    Sincerely,
    Don Suiters
    Clearwater Florida
    USA

  6. The medical system as it is today is not designed for the health of the populous!
    Now I am not saying All medication or All Doctors are not acting for your (best) interest.
    Why are we so far from nature??
    Has suppression of All Natural Organic Remedies benefitted Humanity ??? I think NOT!!
    When harmful chemicals are added into our air, water, foods and medications ((WHO BENEFITS?)
    Well let us look at the populous with the least monetary, material wealth. Yes drinking tap water and eating processed foods. Living in dirty clothes with vermin for bedfellows!! The generation that learns, learned from the T.V. now the internet. The generation that was not taught the benefits of Nature. How many are taught the value of raw vegetables and herbs?? The natural oils and seed the bark of a tree !! Please wake up and see. Why take pharmaceuticals if the chiropractor can adjust your skeleton? Do we treat pinched nerves, dislocated joints or restricted blood flow with medication that camouflage or hide the symptoms temporarily?? Why is a burger (or) an apple $1.00 ?? Do you have a garden?? Have you shared the benefits of a healthy diet with a friend? Could you survive without Pharmaceuticals?? Do you drink Soda or feed it to your children? Why eat carrots?

    There is far more money to be made promoting Wealthcare !!
    Your government allows the F.D.A. control of poisoning your food and water through Monsanto, Dow, Dt and not so many others.
    Profit!!!! For big pharmaceutical!!
    No profit in a healthy population!!
    Keep them sick and stupid!!
    We will be able to make them (pay) for the poison they consume!! Then we can make them pay to stay well enough to pay for the rest of their miserable sickly lives for our medications!!
    Richbright.blogspot.com

  7. Virtually everything in America is a scam. Decades ago clinics stopped taking walk-ins. Now you have to book an appointment 4 to 6 weeks out. This caused the rise of the high priced "Urgent Care" Clinics. The unemployed and poor have no choice but to go to the ER for simple treatments. This is why ERs are so crowded. They're operated like the old walk-in Clinics. An hour long visit to the ER can cost $20,000 just to get antibiotics. American medical practice is likely the greatest fraud on earth. If not, it's a close second to the legal industry which is also a scam.

  8. Lol, Kardashian Wolf never ever ceases to amaze me. You noticed not once in this very short video clip does Kardashian Wolf mention the Democrat passed Obamacare
    Obamacare, the largest tax bill in us history, but as to obama it was not a tax, but in the supreme court pleadings the administration argued it is a tax, never gets mentioned by Kardashian Wolf. How can we still have high costs we passed Obamacare? You see time and time again, he never criticizes Obama or the Democrats legistation, those years dont exist for Kardashian Wolf. I am very surprised he did not blame trump for the high costs. Pluss insurance premiums will go down 2,500.00 someday. What is he compllaining about.

  9. We have Obamacare why is health care cost an issue? And its funny to me how not one reply comment brings up Obamacare. Its.like everyone just ignores it.

  10. Lets ask the questions, has Obamacare increased the cost of medical treatment? Or is that too taboo for liberal progressive marxists.

  11. Great video Mr Wolff. My god it took me forever to wake up to the huge problem we are now going through. Yes, I’ve read that this problem we are currently facing was by design but I feel now that more and more Americans are waking up to our horrible situation. I was a nurse for over 40 years and retired 2019. I could see the changes occurring over the last decade. I’m praying that the earth will survive the damage that’s been done over the years, but feel it may be to late.

  12. MBBs seats are costly to study in India.though I was a very good student upto 11 standard,I was unable to learn well physics,chemistry,biology for 12th standard which was basic for medical entrance exam.it was because of extra coaching class other than the school class which earned the money and the school teachers deliberately did not teach well those subjects at 12th standard.when I checked with my mbbs friends,they also told they had to pay more as they were unable to get dead bodies to learn well even though India is a 2nd population country in the world.even after completing MD they are unable to provide good health care in private hospital and it costs more in private hospitals.i don t know where the problem is.please check Nobel laureate Venkata Ramakrishnan Interview about his iit and medical entrance exam issues that he faced while he was writing.i do not know what is going on
    So

  13. Alternative healthcare is now very difficult to get virtually illegal.
    Most of the expensive medical care is based around drugs to give immediate results on symptoms not solve root cause.
    Then we can look at our standard diet and realize that's all wrong and hence why we are mostly all sick.
    Factory foods full of preservatives and sugar…….

  14. Single payer now. In the meantime in between time go to www.ripmedicaldebt.org. They purchase medical debt pennies on the dollar and retire it forever. One dollar can wipe out one hundred dollars medical debt. Good to know they are around never know if we may need them.

  15. The thing that annoys me most is people here in the US believe they have better medical care than anywhere else in the world when in fact it is one of the worse. This proves how stupid and brainwashed they are.

  16. According to the Health Financial Management Association 90% of hospitals would lose $200 billion annually under a Medicare for all plan and they said that administration simplification would not offset revenue loss. Medicare underpays doctors. Do you think hospitals would find that ok that they will take a paycut?

  17. When did medical costs skyrocket ???
    When government started price controls. The more government fails the more the failures want more government. Why will none of these socialists EVER leave freedom and go live in a socialist country ???

  18. Why will none of these highly enlightened socialists ever leave America to live where the socialists run things ????

  19. Professor Wolff gives us doctors too much credit in the actual lack of power that they we have in this system. Basically, we’re fighting it too.

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