Experts Matt Notowidigdo and Tal Gross discuss the high cost of US healthcare, including medical debt and expensive prescription drugs. They explore the value of insurance, the impact of Medicare payment systems on hospital behavior, and the effects of industry consolidation on consumers and innovation.

Matt Notowidigdo, a healthcare finance and policy expert from Chicago Booth, discusses critical issues in the US healthcare system. He highlights the stark contrast in spending compared to other wealthy nations and the lack of universal coverage. The conversation dives into the complexities of healthcare quality assessment, the role of private insurance in enhancing health outcomes, and the intricacies of price transparency. Notowidigdo also addresses the challenges aspiring doctors face and innovative financial incentives like bundled payments that could transform patient care.