Industry experts break down the biggest driver of soaring health care costs

Dr. Marty Makary and his colleagues at Johns Hopkins University frequently discuss emerging trends in health care and how they can stay ahead of the curve. They have no doubt about what is driving today’s soaring cost of care.

“Currently, we are focused on health care costs or what we call the medical pricing crisis,” said Makary, who also is a health care futurist and bestselling author. “When we think of the next wave of issues facing everyday American workers, we are united in our faculty discussions that the No. 1 concern we have is monopoly power and monopoly pricing within health care. This is about to emerge as the No. 1 issue in the United States.”

Makary shared his insights in “Time to Hack Your Health Plan,” a May 19 webinar presented by Imagine360. Monopolization affects not only patients and employers but also their broader communities…

“If you take a couple with a combined income of $120,000, they are paying about $35,000 in taxes, of which about half is going to health care in its many hidden forms,” Makary said.

The full article is can be found in BenefitsPro.

© Paragon Health Institute 2023. All Rights Reserved.

Paragon Health Institute (PHI) is a non-partisan, not-for-profit policy research institute. Any views, beliefs, or opinions expressed by PHI’s Public Advisors are those of its Advisors and do not necessarily reflect the official policies or positions of PHI or its employees. Any views, beliefs, or opinions expressed by PHI or its employees belong solely to PHI and do not necessarily reflect those of PHI’s Public Advisors.