Why Do We Need a $2,000 Deductible?

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In America right now, 55% of American households earn under $50,000 a year. What we worry about is it means that people will forego access to the healthcare system by putting off that sore throat saying, you know, I really don't need to have this checked out. And so the longer you put these conditions off, the more we find that people end up in the hospital for avoidable medical conditions or complications.

Steven Lipstein, President and CEO of BJC HealthCare--a $3 billion hospital system in St. Louis, Missouri--talks with EconTalk host Russ Roberts about the economics of hospitals. They discuss pricing, the advantages and disadvantages of specialization in modern medical care, and culture and governance of non-profit hospitals vs. for-profit hospitals. At the end they talk about the positives and negatives of a national health board patterned after the Federal Reserve.