Nearly 20 percent of Americans have medical debt. A hospital stay in the US on average leads to about $6,000 in unpaid medical bills for the uninsured, and more than $18,000 for about one in ten uninsured patients. Why is US healthcare so expensive? In this episode, we hear from Chicago Booth’s Matt Notowidigdo, in the first of two podcasts about his new book, Better Health Economics: An Introduction for Everyone, co-written with Boston University’s Tal Gross.