David Goldhill, author and media company CEO, discusses the dysfunction that he sees in the healthcare sector in America. The healthcare industry, according to Goldhill, sends all of the wrong signals to producers and consumers. In too many facets of the industry, the patient is not the real customer, and the model is for stakeholders to pay for services based on cost rather than to price services based on competition. The prices in healthcare are entirely fictional, he argues. They bear no relationship to the prices of other things. Moreover, the proper incentives are not there for entrepreneurs to develop solutions that are faster, better, or cheaper. Nobody in healthcare has the correct economic incentive, he says, and as a result we are left with the problems and challenges that we are facing today.
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