May 29, 2008
Since the '90s, Clark has been talking about medical tourism as an option for non-emergency and cosmetic surgery. Americans can go overseas for a procedure and pay 20 cents on the dollar (or less) to be treated by Western-trained staff and a private nurse in modern facilities.
US News & World Report recently ran a cover story on the medical tourism trend. Shortly after that, The Wall Street Journal retorted by saying the trend is overhyped and nobody's doing it.
For once, Clark has to disagree with his "girlfriend." The reality is that many Americans lack adequate insurance coverage and/or have huge co-pays, so going overseas is a viable alternative.
While there are some inconveniences in going far away for care, the cost differences can be ginormous. (That's a technical term!) For example, a hip replacement that may run you $60K here might be between $12K and $15K overseas.
If you are considering medical tourism, how can you be sure an overseas facility is any good? Check with the Joint Commission International to see who's accredited.
Yes, medical tourism is controversial, but people need care and some can't afford it under our system. Two providers in Southern California -- Health Net and Blue Shield -- have provisions for treatment in Mexico that can save 40 percent on insurance premiums. Meanwhile, dental care in Costa Rica can be one-fifth the cost we pay here.
May 20, 2008
When you have a medical procedure, a bill is generated, the insurer pays a negotiated amount and you have your co-pay. That should be the end of the story. But right now there's a fight in California about who gets stuck with the tab. Doctors and hospitals are furious that they bill one amount, yet the insurers come back saying they'll only pay a fraction of it.
In the push and pull, the weakest player here is the consumer. The doctors and hospitals are trying to pass unpaid costs off to the patient through a practice known as "balance billing." Clark has no idea how this fight will go in the Golden State, but he'll keep you updated.
The real solution here would be for customers to know the cost of medical care before a procedure and shop accordingly. But we're nowhere near this being the case.
The Society of Actuaries finds that paying for healthcare is the No. 1 concern of workers, cited by 70% of people. Right now there's a stalemate with employers, medical providers and consumers all hating the system. The only ones who like the system are the insurers.
The problem is we don't have a marketplace where insurers are required to practice normal capitalism. Clark has long been an advocate of vouchers for healthcare. Insurers would then have to compete for everyone's business and there wouldn't be exclusions for pre-existing conditions. This is not a justification for universal healthcare; it's just a call for healthcare vouchers.
Healthcare is a hot button issue for voters in '08. But both parties are stuck in a prior decade with their views. We need to move into the future and vouchers might be one way to get the job done.
May 13, 2008
We often hear about how people are uninsured, but we don't hear about how they're underinsured. A lot of people have coverage, but it may only be minimal for some procedures. Figuring out what's covered and what's not is like reading hieroglyphics.
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May 6, 2008
There's been so much press on Wal-Mart's decision to cut the price of prescription drugs yet again. The mega-retailer's original $4 prescription plan completely changed the face of the business. Generic meds now account for an overwhelming number of prescriptions in the United States. Wal-Mart played a big role in breaking the stranglehold that Big Pharma's TV ads had on the market.
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May 5, 2008
Back in the '90s, Clark first talked about breakthrough laser technology being developed for the dentistry field. He went for a cleaning shortly after and discovered his dentist was very upset with him. Several other customers heard Clark on the air and were already asking about the laser! It turns out the technology is very expensive, but it eliminates most of the discomfort for common dental procedures.
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