The Cartelization of Heathcare: The Alarming Statistics Behind Healthcare Profits

 

Check out the timestamps below to help you navigate through the many topics we discussed.

On This Episode:

The healthcare industry is at a crossroads financially as Americans struggle to cover medical costs and profits soar following the COVID pandemic. The push for change is getting louder every day, and one of the strongest voices is coming from North Carolina State Treasurer Dale Folwell. He describes the issue as ‘the cartelization of healthcare’ and has outlined four significant changes that he wants to see happen. Find out what those are and listen as we highlight some alarming financial statistics.

Dale is someone Sharon met while he was a state representative and he’s been an advocate for nurse anesthetists in the past. He shared his story on this show about being one of the early COVID patients who faced a serious health scare, which has further strengthened his support for nurses.

But this topic impacts every American and it’s something that needs to get fixed. The average person is spending 20-25% of their earnings just to cover the cost of healthcare and the wages for CEOs are growing at a much faster pace than nurses. We’ll lay out some of the reasons that priorities seem to be completely out of whack and what can be done to improve the situation.

Here are some of the things you’ll learn on this show:

  • Background on why he uses the word cartel to describe healthcare. [2:35]
  • The 3 things that he wants to accomplish as Treasurer. [5:45]
  • Stats that show the significant financial toll healthcare costs takes on Americans. [8:22]
  • Hospital profits during COVID. [11:19]
  • The vast discrepancy in wage increases between frontline workers and executives. [21:28]
  • His support for nurse anesthetists through the years. [23:53]
  • CEOs motivated to put the profits over the patients. [28:23]
  • What would legislative action look like to enact changes in the healthcare industry? [32:15]

Check out the interview at the top of the page and use the timestamps to help you navigate through the many topics we discussed.

 

We’re excited to share that Beyond The Mask has been recognized in the 18th Annual People’s Choice Podcast Awards. We’re nominated in two prestigious categories: the coveted ‘People’s Choice Award’ and ‘Best Healthcare Podcast.’

We’re asking you to vote for us in the People’s Choice Podcast Awards. Your vote not only helps us win but also spreads the word about our mission to demystify our corner of the healthcare industry, one story at a time.

Cast your vote here: https://www.podcastawards.com/

 

It was the music that was being sung by the average people of this country that ended up changing the minds and the hearts of the lawmakers, which ended up changing law. So we have got to continue singing this song. Because until that happens, we will not get the legislative changes that we need.

-Dale Folwell, NC Treasurer

 

 

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