
2018-Morning Session-BRK Annual Shareholders Meeting
Berkshire Hathaway Annual Shareholder Meetings (since 1994)
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The Cost Problem in American Business Is a Tapeworm
We have a hugely non-competitive medical cost in American business relating to any country in the world. Early in 1960, we were spending $170 per capita on medical costs in the United States and now we're spending over $10,000. And you've got a system that is delivering $3.3 trillion. That's almost as much as the federal government raises. Every dollar only has 100 cents. We'll find out it won't be easy. But it is not a, the motivations are not primarily profit making. We want our employees to get better medical service at lower cost. If we fail we will at least try.
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