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Our next guest says our country had a lot to learn from Singapore.
And it could even save us maybe two trillion dollars a year of the three trillion or so that we spend joining us is William -- team.
-- -- international chairman and president thanks for being with us and of course you've got this new book out that you've just written called affordable excellence.
Where we could take lessons from Singapore that I've been to Singapore -- one of the most controlling governments in the world they own over half of the Telecom company over half of the airline.
And yet they can offer us a model for cutting health care costs how is that.
Well first of all there a capitalist country it's a democracy.
My cuts yes second of all.
They have thought very deeply and long about how to provide high quality health care and an affordable cost the cost supportable now.
And going for -- and there's a few very simple lessons.
I think -- applied here could save us up to a trillion dollars maybe to a trillion dollars because they get better results.
And less than one quarter the price -- three main things we ought to be doing we should have.
Co payments serious co payments so it's a little bit painful to go to the doctor.
Not that you should make it impossible for poor people SB is structured.
Way so that you can have a graded.
-- co payment but co payments are really important.
Not just for ordinary business but for serious surgeries as well so because asking us as individuals to pay more would make us more conscious to spend less than to try to.
Be a more fit efficient on OK and -- right the second one is price transparency.
We know that the prices you pay when you go to the hospital you see the doctor are totally hot -- -- -- -- transparent.
You can't negotiate the individual who goes to see the doctors know how much is -- and insurance companies you don't even know.
How much doctors and hospitals to -- Price transparency is really important and a third welfare is not paying fee for service so every time a doctor orders and on the test you pay part.
Is basically bundling to say you've got.
Lung cancer this is what the average lung cancer patients should be charged in this area of the country.
And you've found -- seven Biotech company she found a human genome scientists.
What other science -- one of the early.
Firms out there and a map that genome and come -- in front facing UP five did agree on another heavy hitter.
His private enterprise what it takes to make health care more affordable and better in this country or -- government involvement what it takes.
I think it's at least -- the competitive power and efficiencies of our businesses.
We have the most competitive business.
-- culture in the world and if we need to we can compete we compete with anybody think Detroit.
Detroit didn't think -- -- to compete so it out offered no not the greatest product when he needed to compete -- -- we need to do that with our health -- system we have to have big.
To compete with each other -- cost and quality but I thought we were already fiercely competitive in the in the health care market in the US what what what is -- that's not competitive enough.
We don't have price transparency you don't know what you're paying for the customer doesn't always paying for -- petty doesn't pay for it.
If you buy a car you know you're paying for.
Right right if you buy health care you don't -- you pinpoint what a much what I care I've got some insurers who stepped in and cover my entire prize in law and -- the US can't afford it they're paying almost 18% of our GDP yes well every half million dollars we have to -- but you know what you did mentioned three points in the notes -- that are produced put together.
They can make it really hard for this happened to Singapore has -- we don't have Singapore has political unity that has an ability to establish priorities.
And it hasn't been it shares a desire for well being I'm not sure we have political you know I think you and I have all those three.
Yes we do our thanks so much for being with us William -- team.
Thank you have.
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