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Why are medical needs for quality of life so expensive?
Episode 9323rd November 2022 • Soapbox Daily • Mad Morgan
00:00:00 00:07:44

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It’s hard to disagree. Medical devices are a prime example of a relative handful of manufacturers exploiting a captive market with excessively high list prices. Whether we’re talking hearing aids, insulin pumps, pacemakers or other life-altering technologies, patients almost always are forced to pay far more than the cost of developing and making the devices.

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“The medical device industry is largely an oligopoly, with some of the companies holding effectively a monopoly position,” said an adjunct professor of social policy and management at a University, specializing in healthcare marketing.

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Limited competition allows the medical device companies to charge higher prices because of a lower threat of a competitor entering the market at a lower price.” “This effect is exacerbated by the tight relationships that the medical device companies form with physicians”.

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There’s so much wrong with the $4-trillion U.S. healthcare system alone, it’s hard to know where to start fixing it. Maybe that’s one reason lawmakers are so reluctant to try. High-priced medical devices represent another area ripe for reform — another step toward creating a healthcare system that doesn’t relentlessly put profits ahead of patients.

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Captive market. Steadily rising prices. Huge markups. That’s not value. It’s immoral.

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This is our topic for todays episode. Please share your views on our Twitter page @ https://twitter.com/MadSoapbox

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Like always this is will be the VERY best variety topic excellence you expect from us. These are our opinions and thoughts which all MAY not agree with. Please feel free to 'change the channel' if you don't like what you hear. Our goal is to make the world a better place for everyone and not serve a small minority. Thoughts, comments and constructive contributions welcomed but NOT hate or negative. Please be respectful to our host and guests.

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We also have a weekly long format Podcast called 'Get Off My Soapbox' which airs every Wednesday evening (usually posted before 11 PM EDT).

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More information can be found on that podcast and this new SOAPBOX DAILY podcast at https://getoffmysoapbox.com

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