How to Reform Medical Care

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Presentation transcript:

How to Reform Medical Care By Senator Steven Thayn Idaho District 8 How to Reform Medical Care

Where we are in comparison to the rest of the world USA OECD Singapore Rank in world in outcomes and efficiency 20th or less Some of the top nations #1 or #2 % of GDP to pay for medical care 18% and climbing 9% average 4.7% $/person $9,500 $3,268 $2,400 Socialized Mixed Mostly Free market with help for the poorest

National Comparisons https://mha. gwu Rank* Life expectancy Income per person Medical cost per person (2013) Singapore #2 83 $76,850 $2,267 Japan #4 84 $41,275 $4,787 Australia #8 $48,899 $6,097 France #14 82 $42,314 $4,644 Canada #16 $46,437 $5,763 USA Not listed 79 $53,960 $8,845 *Rankings based upon Business Insider 2017; only lists top 16 WHO ranks USA system #37

What would a 50% reduction look like? Total Per Person Per Year Per Person Per Month Tax Cut $ 28,000,000 $ 17.50 $ 1.46 50% Medical Cost Reduction $5,500,000,000 $3,438.00 $286.50

What would a 50% reduction look like? $750 million of the Idaho budget of $3.4 billion Enough for roads And drop the income tax from 7.4% to 5.7%

How to reduce costs? 5 areas of focus Focus on primary care -- 20% Change the way primary care is funded -- 0% Engage people in their own health care – 10% Transparency tool – 15% Help the poor with primary care – 5% Total of 50% reduction

Singapore is a bright spot USA Insurance High deductible Pre-paid medical care Primary care Everyone has access no focus Transparency tool Indirect No People control spending $20,600 Only 11% of total spend

Solutions Have a DPC membership or pays cash for primary care ($500 per year) Everyone pays the first $3,000 to $4,000 of annual medical expenses out of pocket Access to a transparency tool Care for the poor begins with primary care and is coupled with plans to help them move through poverty