741. Ten Things About Our Healthcare System
The U.S. healthcare system isn't just broken—it's being systematically exploited by third parties who profit from our vulnerability. Jordan Grumet, author of *The Healthcare Heist*, argues that patients and providers are not just passive participants but active leverage points in a system designed to extract wealth. From Big Pharma’s 'me-too' drugs funded by public research to insurance companies that now profit from higher premiums rather than cost control, the system rewards extraction over care. Electronic medical records, promised to improve efficiency, have instead added bureaucratic burden with no measurable gains in safety or cost. Venture capital and private equity are dismantling hospitals and practices for short-term profit, leaving behind bankrupt systems. Grumet reveals a startling truth: medical malpractice is far less common than believed, yet fear of it drives billions in 'defensive medicine' that inflates costs. The real fix? A revolution built on shared storytelling. By closing the 'intimacy gap' between patients and providers, and uniting them as shared stakeholders, grassroots change becomes possible. This isn't about incremental reform—it's about collective action, narrative power, and reclaiming healthcare from those who've turned it into a profit machine.
Patients and providers are being used as leverage by third parties—insurance, pharma, private equity—for corporate profit, not better care.
Big Pharma profits from 'me-too' drugs built on publicly funded research, while paying little for actual innovation.
Insurance companies no longer control costs; they increase premiums to keep more of the payout, making them richer, not the system better.
Electronic medical records have failed to reduce errors or lower costs—only enriched the companies that sell them.
Private equity and venture capital are bankrupting hospitals and practices by extracting wealth without improving patient outcomes.
…and 3 more takeaways available in PodZeus
Introducing The Healthcare Heist
Jordan Grumet introduces his new book, *The Healthcare Heist*, published by the American Association for Physician Leadership, which critiques how the U.S. healthcare system exploits patients and providers for corporate profit.
Thing One: You Are Leverage
“You are being used, you the American people and you healthcare providers. You are the only ones in the system who are really necessary.”
Thing Two: Big Pharma Is Cooking the Books
“Most pharma companies don't even do research and development anymore. They buy the drugs from smaller companies who spend a lot less on R&D. It is a big hoax.”
Thing Three: Big Insurance Is Denying Care
“They would collect premiums from you. They would pay out the $25,000 and they would be able to keep... 10% and the rest would have to go to payment for that hip replacement.”
Thing Four: EMRs Are a Pipe Dream
“We are no better than we were before electronic medical records, but we are a lot more broke.”
“You are being used, you the American people and you healthcare providers. You are the only ones in the system who are really necessary.”
“And so they run these businesses into the ground. They extract all the money. They sell all the equipment and sell all the real estate underneath these practices.”
“But when you really look at it, most pharma companies, especially bigger pharma companies, don't even do research and development anymore. They buy the drugs from smaller companies who spend a lot less on R &D. It is a big hoax, and big pharma is winning.”
Host
Jordan Grumet
person
The Healthcare Heist
book
American Association for Physician Leadership
organization
National Institutes of Health
organization
Obamacare
other
National Health Service
organization
The Pit
media
Chris Hutchins
person
All the Hacks
media
Ramit Sethi
person
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