Saum Sutaria, M.D.

The vast majority of success on the exchanges has been through traditional insurers who have the foundation of the systems to do so. And the innovation in that space has come from the Medicaid insurers who adapted their processes and systems to be able to come onto the exchanges at a lower cost point. So it would be very hard. It would be very hard to do that.

The vast majority of success on the exchanges has been through traditional insurers who have the foundation of the systems to do so. And the innovation in that space has come from the Medicaid insurers who adapted their processes and systems to be able to come onto the exchanges at a lower cost point. So it would be very hard. It would be very hard to do that.

Remember, the other thing you'd have to have if you had an insurance pool, given that you have to make payments timely, is you've got to have enough capital backing the insurance risk. And so where do you raise all that capital? That's another thing.

Remember, the other thing you'd have to have if you had an insurance pool, given that you have to make payments timely, is you've got to have enough capital backing the insurance risk. And so where do you raise all that capital? That's another thing.

So the two things, we got a $4 trillion system. It's almost 20% of our GDP. It was not anything like that in the 1950s. There are a number of coverage welfare programs, if you will, that have been put into place. Many of them done in that context in that time, not only with good intention, but reasonable projections that things would not have grown like this.

So the two things, we got a $4 trillion system. It's almost 20% of our GDP. It was not anything like that in the 1950s. There are a number of coverage welfare programs, if you will, that have been put into place. Many of them done in that context in that time, not only with good intention, but reasonable projections that things would not have grown like this.

Medical innovation, I mean, just look at the number of patents in the industry and how they've grown. The combination of medical innovation, drugs, devices, service innovation, procedures, along with coverage, coverage that was disconnected from individual accountability, created a virtuous cycle of spend increase that has gotten us to this place. And it has been faster than GDP.

Medical innovation, I mean, just look at the number of patents in the industry and how they've grown. The combination of medical innovation, drugs, devices, service innovation, procedures, along with coverage, coverage that was disconnected from individual accountability, created a virtuous cycle of spend increase that has gotten us to this place. And it has been faster than GDP.

And at the same time, it hasn't broken the system because the US economy has been thriving. I mean, the arguments about affordability that we may get into would be, well, at this level of expenditure, it's draining the US economy from being competitive. Well, I'm not sure that that's actually true yet. And we can get into forecasting where it's going to go. I'm not sure that's true yet.

And at the same time, it hasn't broken the system because the US economy has been thriving. I mean, the arguments about affordability that we may get into would be, well, at this level of expenditure, it's draining the US economy from being competitive. Well, I'm not sure that that's actually true yet. And we can get into forecasting where it's going to go. I'm not sure that's true yet.

All of the dollars and benefits that have gone into creating a healthcare system have created millions and millions of jobs. If you look back over the last 20 years, healthcare has probably created more jobs as a sector than in any other sector in the United States.

All of the dollars and benefits that have gone into creating a healthcare system have created millions and millions of jobs. If you look back over the last 20 years, healthcare has probably created more jobs as a sector than in any other sector in the United States.

And what's unique about those three, putting aside the defense industry, energy, agriculture, and healthcare are the three most subsidized industries by the government. Three most subsidized industries by the government. By far, right? I mean, agriculture has been for a long time.

And what's unique about those three, putting aside the defense industry, energy, agriculture, and healthcare are the three most subsidized industries by the government. Three most subsidized industries by the government. By far, right? I mean, agriculture has been for a long time.

Energy is very much so today, not just from a national security perspective, but in terms of the innovation needed there. And healthcare has been so, again, as we said, in the US, probably since the early 1950s, certainly since 1965, when you had Medicare and Medicaid come about. And so the expenditures have just grown. Obviously, aging contributes a bit to that.

Energy is very much so today, not just from a national security perspective, but in terms of the innovation needed there. And healthcare has been so, again, as we said, in the US, probably since the early 1950s, certainly since 1965, when you had Medicare and Medicaid come about. And so the expenditures have just grown. Obviously, aging contributes a bit to that.

There are some differences we can outline with other countries if we have an interest in it, but aging contributes a little bit to that.

There are some differences we can outline with other countries if we have an interest in it, but aging contributes a little bit to that.

And then obviously, as business has grown, the value of this pre-tax benefit, as more and more people are employed, has grown to continue employer-sponsored insurance as a vehicle of private insurance to match the public programs, Medicare, Medicaid, and otherwise. And so the expenditures have grown significantly.

And then obviously, as business has grown, the value of this pre-tax benefit, as more and more people are employed, has grown to continue employer-sponsored insurance as a vehicle of private insurance to match the public programs, Medicare, Medicaid, and otherwise. And so the expenditures have grown significantly.