Key Takeaways

• Public service provides a unique chance to make significant changes in healthcare.
• Pursuing projects without significant impact in healthcare is considered a waste of time.
• The current administration values expertise and independent communication of its goals.
• The process of lawmaking is slow and often hindered by legal challenges.
• The US government can convene industry discussions to address pricing without stifling innovation.
• The US pays significantly more for pharmaceuticals than other countries.
• Balancing pharmaceutical innovation with fair consumer pricing is crucial.
• The average American pays more for drugs compared to Europeans.
• Viewing healthcare as an investment can have substantial economic benefits.
• Reducing the actual cost of care can enhance the value of healthcare spending.
• The administration seeks individuals who can communicate its goals without relying on the president.
• Legal challenges can slow down the process of making laws and regulations.
• Convening discussions among industries is a strategic approach to address pricing issues.
• The disparity in drug pricing between the US and Europe is a critical issue.
• Viewing healthcare as an investment rather than an expense can boost the economy.

Guest intro

Dr. Mehmet Oz serves as Administrator of the Centers for Medicare and Medicaid Services (CMS). He previously served as professor of surgery at Columbia University and director of the Cardiovascular Institute at New York Presbyterian Hospital. A cardiothoracic surgeon, he pioneered minimally invasive heart valve repair techniques and hosted the Emmy-winning “The Dr. Oz Show” for 13 years.

The role of public service in healthcare reform

• Public service offers a unique opportunity to enact meaningful changes in healthcare. – Mehmet Oz

• I think a lot of folks… if you wanna be able to change meaningfully the infrastructure whatever’s bothering you you gotta go out at full speed and this administration offers us a unique opportunity to do that.

  — Mehmet Oz

• Pursuing projects that don’t lead to significant change in healthcare is a waste of time. – Mehmet Oz

• We don’t have the luxury of fooling around for years of our lives pursuing interests that don’t result in meaningfully changing the the quality of life.

  — Mehmet Oz

• The urgency and importance of effective healthcare initiatives cannot be overstated. – Mehmet Oz

• This insight reflects a strong viewpoint on the potential for impactful change within the healthcare system through public service.

  — Mehmet Oz

• Public service can drive transformative changes in the American healthcare system. – Mehmet Oz
• Understanding the challenges and opportunities in healthcare is crucial for reform. – Mehmet Oz

The current administration’s approach to governance

• The administration seeks individuals with expertise who can communicate its goals independently. – Mehmet Oz

• He wants individuals that don’t have to rely on the president to tell the story all the time because so much of the narrative that is reflected in the media is just completely off.

  — Mehmet Oz

• Expertise and proactive communication are emphasized for effective administration. – Mehmet Oz
• The process of making laws and regulations is often slow and hindered by legal challenges. – Mehmet Oz

• It takes a lot of time and then negotiated final results sometimes fall short… it does take some time and it’s prone to lawfare.

  — Mehmet Oz

• Understanding the dynamics of the administration’s approach is crucial for governance. – Mehmet Oz
• The strategic shift in governance focuses on expertise and communication. – Mehmet Oz
• Legal challenges can impede the effectiveness of governance and regulatory actions. – Mehmet Oz

Addressing pharmaceutical pricing and innovation

• The US government can convene discussions among industries to address pricing issues. – Mehmet Oz

• The third way which historically government has not used i don’t think is effectively as possible… is to just use the power to convene the us government can bring people together who would not normally talk.

  — Mehmet Oz

• The US pays significantly more for pharmaceuticals compared to other countries. – Mehmet Oz

• We just pay a bunch more for the exact same product made the same factory often in america than our counterparts do here in europe.

  — Mehmet Oz

• Balancing pharmaceutical innovation with fair pricing is important. – Mehmet Oz

• He’s very specifically said do not hurt the innovative nature of pharmaceuticals… but take some of the fat out of it pull it back and give it to the american people.

  — Mehmet Oz

• Convening industry discussions can address pricing without harming innovation. – Mehmet Oz
• The disparity in pharmaceutical pricing is a critical issue for US consumers. – Mehmet Oz

Economic implications of healthcare spending

• The average American pays significantly more for drug prices compared to Europeans. – Mehmet Oz

• The average american’s gonna pay less for their drug prices… they pay point 3% so less than half of what we pay percent wise is being spent by them.

  — Mehmet Oz

• Healthcare should be viewed as an investment rather than an expense. – Mehmet Oz

• Don’t think about health care like an expense think of it as an investment because if I can get the average american to work one year longer… that’s worth $3,000,000,000,000 to the us economy.

  — Mehmet Oz

• Reducing the actual cost of care can lead to better value for the money spent on healthcare. – Mehmet Oz

• Get the actual cost of care down don’t just pay more money into the system get the actual cost of care down so the money we’re spending gets us more value.

  — Mehmet Oz

• Viewing healthcare as an investment can have substantial economic benefits. – Mehmet Oz
• The economic value of healthcare spending is significant for the US economy. – Mehmet Oz