Speaker 1: Bloomberg Audio Studios, podcasts, radio news.
Speaker 2: So you never know who you're gonna meet at Milican
Speaker 2: is the moral of the story here. And this boy
Speaker 2: been playing itself out in a lot of different ways,
Speaker 2: including right now. Doctor mant in Oz just walked in
Speaker 2: the room. We waved and he came to sit down
Speaker 2: with us.
Speaker 3: Here wave drag the hook.
Speaker 2: See how I tried to make that He had no
Speaker 2: idea that what we're going to do. Well, you know,
Speaker 2: we could just we saw each other. We ran at
Speaker 2: each other and embraced. It's great to see you in
Speaker 2: Los Angeles. Your course, very very much at home here
Speaker 2: and I know that you're here as you mentioned, to
Speaker 2: see your daughter on a panel. But there's a conversation
Speaker 2: at Milkin that is right down the middle for you,
Speaker 2: and that's affordability in healthcare. It's something that we've heard
Speaker 2: a lot of executives talk about as they try to
Speaker 2: get their arms around this, and it's a solution that
Speaker 2: a lot of folks are waiting for.
Speaker 3: I know it's something that you're talking.
Speaker 2: About right now at the White House. It's this K
Speaker 2: shaped economy that we're in. This is one of the
Speaker 2: first areas where you can make a different and doing
Speaker 2: a difference.
Speaker 4: The reality of healthcare affordability is unlike other problems. Like
Speaker 4: you can't afford the eggs, you get upset. You know
Speaker 4: the car costs more and you want you get mad
Speaker 4: at the dealer usually, But when you can't afford healthcare,
Speaker 4: that destroys the basic covenant you have with America. You
Speaker 4: want a piece of the rock that means you get
Speaker 4: to be on the playing field.
Speaker 3: If you're not.
Speaker 4: Healthy, then well that's not coppening, and especially if your
Speaker 4: family's compromised. I'll give you a couple of stats just
Speaker 4: to blow your mind for folks who may not realisk
Speaker 4: how difficult it is for a lot of Americans. One
Speaker 4: in three Americans, after they see their doctor, get a prescription,
Speaker 4: go to the pharmacy, cannot fill it one and three.
Speaker 4: And part of the reason for that is we pay
Speaker 4: three times more. At least we were three times more
Speaker 4: for drugs made even in this country, bottled here.
Speaker 3: Then Europeans were paying for those exact same products.
Speaker 4: So some of the most common drugs we're using in America,
Speaker 4: like the weight loss drugs, the fertility drugs, you know,
Speaker 4: basic drugs we use for fundamental recovery of health unaffordable
Speaker 4: to many Americans.
Speaker 2: So this is why Trump our X right trump or.
Speaker 4: X dot god, which, by the way, if you haven't
Speaker 4: heard of it, please trump our X dot gov. Or
Speaker 4: you buy a medication, at least check the price that's
Speaker 4: on trump r X dot gov. Don't think of it
Speaker 4: like a discount site, although the prices are dramatically lower
Speaker 4: because they have been negotiated to be most favored dation pricing.
Speaker 4: But make sure that it's a transparency site for you.
Speaker 4: At least we demystify what drugs should cost you, and
Speaker 4: we are continuing to add drugs. We had an Oval
Speaker 4: Office event last week adding the seventeenth of the seventeen
Speaker 4: drugs to the biggest company. Of the seventeen companies that
Speaker 4: the President wanted us to add, these are the largest
Speaker 4: companies in the world, and so we're.
Speaker 3: Making huge progress there.
Speaker 4: The affordability issues also, however, touch on fraud, and part
Speaker 4: of the reason I've be spending some time in Los
Speaker 4: Angeles of late is that one in three hospices in
Speaker 4: the entire country number hospices where you go to die
Speaker 4: yes with dignity. One in three in the entire country
Speaker 4: are here in Los Angeles, not California.
Speaker 3: Los Angeles. Look around, people aren't that sick. They're not
Speaker 3: all dying on Los Angeles.
Speaker 4: When you see those kinds of variances in utilization, do
Speaker 4: you start to suspect fraud?
Speaker 3: And in fact, that's exactly what's happening.
Speaker 4: We've shut down over four hundred of these hospices in
Speaker 4: this country. When I to shut down, we spend the payments,
Speaker 4: so we're not giving him anything. And so far from
Speaker 4: the first batch, people aren't complaining, which means they sort
Speaker 4: of no.
Speaker 3: They were getting caught.
Speaker 4: And when you see this process existing with that some
Speaker 4: type of enforcement or integrity of this system reinforcing the
Speaker 4: need to be able to run it correctly, it encourages corruption.
Speaker 4: And so you see more and more doctors selling their souls,
Speaker 4: literally their licenses to be able to falsely claim people
Speaker 4: are about to die.
Speaker 3: You see, business, folks, that's that quick story.
Speaker 4: Guy made a fortune again using this hospice newpole in California,
Speaker 4: and he was building a massive.
Speaker 3: House with all his money.
Speaker 4: And the guy who's the carpenter remarked that he was
Speaker 4: in the hospice business, and the plumber overheard the conversation
Speaker 4: and said, hey, me too. Well, so literally the contractors
Speaker 4: and the person buying building the house, to everyone's in
Speaker 4: the business because it's become so easy to the fraud.
Speaker 4: The government, we're stopping that.
Speaker 1: Doctors, there's fraud, and then there's a lot of great
Speaker 1: doctors out there and a lot of great care health
Speaker 1: care providers. And I got to say, I talk with
Speaker 1: real Americans every day who are saying that the rollback
Speaker 1: in Obamacare, I mean their health care costs are going
Speaker 1: up exponentially. I mean that is problematic. I thought the
Speaker 1: whole goal was to reduce the cost of health care.
Speaker 3: Well, I'm going to push back to you for a second.
Speaker 4: So we had twenty three million people on Obamacare last year.
Speaker 4: Historically it was about twelve million people, so it's almost doubled.
Speaker 4: But most of the people that we're asking about these
Speaker 4: issues aren't quite as upset as you claim. Because the
Speaker 4: average person went from being eighty two percent subsidized, right,
Speaker 4: that's what they are now, and then how much they lose.
Speaker 4: They used to be eighty seven percent subsidized. So what
Speaker 4: happened in Obamacare is a massive push to enroll people.
Speaker 4: But if you don't ask people to even put one
Speaker 4: dollar up for Obamacare, you end up with a lot
Speaker 4: of fraudulent and rolled people. So I'll give you some numbers.
Speaker 4: All of the twenty three million people almost have never
Speaker 4: filed the claim. So let me ask you, if you
Speaker 4: have health insurance, you'd once in a while use it.
Speaker 4: If you never file the claim, you should be asking yourself, well,
Speaker 4: what happened? Why do I even have this insurance? And
Speaker 4: it turns out many people didn't even know they had coverage.
Speaker 4: Look at what the numbers right now, we went from
Speaker 4: twenty three million to twenty two million.
Speaker 3: I give it.
Speaker 1: Yeah, I would beg to differ, And I would also
Speaker 1: say I'm a little concerned about administration policies and how
Speaker 1: we're going to retire in America in terms of you know,
Speaker 1: Medicare and so on and so forth. Like I do
Speaker 1: worry about the Medicare.
Speaker 4: Is healthier than it's ever been because of program integrity.
Speaker 4: If you shut hospice down so they're to fraud billions
Speaker 4: of dollars out of the system, I'll give you a
Speaker 4: number that's going to make this make us very clear.
Speaker 4: It doubles the life expectancy of the Medicare.
Speaker 3: Trust Fund doubles it.
Speaker 4: So anyone out there working their tail off who thinks
Speaker 4: Medicare is going to be their formulati retire if you
Speaker 4: know it's going to last twice as long you feel
Speaker 4: good about it, and we're not doing anything. We're not
Speaker 4: touching Medicare in any way. The President has been very
Speaker 4: clear he loves in church of Medicare. It will remain
Speaker 4: exactly as you know it, but it's going to last
Speaker 4: longer because's taking the fraud out. And I think I'm
Speaker 4: going to shock you with this. The President saved Medicaid
Speaker 4: with some of these actions because we were looking at
Speaker 4: five point four trillion more dollars to be poured into
Speaker 4: basically legalized money laundering that would have bankrupted the system.
Speaker 4: So what we have done is put these programs on
Speaker 4: firm footing that they will continue to survive for the
Speaker 4: rest of our lifetime.
Speaker 3: I hope, I hope, so us. Would you come talk
Speaker 3: to us in Washington when we're back in town.
Speaker 2: I want to keep this going, of course, well, Pleasure,
Speaker 2: I hope that the panel goes well with your daughter
Speaker 2: and stop running there with the creobulate.
Speaker 1: Fuks are coming in on our hooks.
Speaker 2: We hooked them again, Carol