Hospital CEO Admits His Industry Causes Bankruptcies Then Praises Their Profits

Recently, J P Morgan held a healthcare conference,
I believe it was down in California around San Francisco. J P Morgan holds this healthcare
conference. You get healthcare CEOs coming in. They’re big pharma CEOs, hospital corporation
CEOs, all the big wigs in American healthcare down there in San Francisco at this JP Morgan
healthcare conference. And one man, man by the name of uh, Marc Harrison who happens
to be the CEO of Intermountain healthcare, gets up there for his turn to speak and he
tells the crowd this. He says, the number one cause of personal bankruptcy is our industry.
It’s a very rare moment of self awareness for a member of the healthcare industry. This
guy, Marc Harrison, Intermountain healthcare gets up there and tells them flat out the
truth, which is we’re the number one cause of bankruptcy in this country. Now I wish
the rest of Mr. Harrison’s speech was more of that, more admonishing of this entire industry
for what they’re doing to people. But it wasn’t. In fact, it actually went the
other way because even though we’re causing all these bankruptcies, our number one goal,
Mr. Harrison told that crowd is to continue to grow revenue. Dang, right? Almost had it.
Harrison, you weren’t. You were, you were so close to like getting it right. You know,
we are screwing people all over this country from coast to coast and border to border.
We are just the worst. And we’re about to get so much worse, so much worse because we’re
going to grow our revenue and we all know what that means, right? There’s only one way
for these groups to grow their revenue. Either they raise prices on us or they cut back on
the services that they cover. So either way we the consumer, the healthcare consumer,
we’re screwed. But here’s the thing, and I know Bernie talked about it recently and a
lot of other folks are now finally starting to really talk about this, the, the waste
and abuse and the administrative costs in healthcare amount to more than one third of
our total healthcare spending here in the United States. And it’s that money that more than one third
of it that Harrison wants to increase. It’s not, the treatments are getting more expensive.
It’s not that pharmaceuticals are getting more expensive. They have to increase their
administrative costs to us. Why not? Because they want to pay the, you know, bookkeeper
working 50 hours a week down in the basement floor of the hospital. They don’t want to
pay her more money. They want to pay the CEO more money. Mark Harrison, the CEO wants more
money is the more revenue he pulls in, the more money he gets in 2018 the most recent
year for which have numbers, healthcare CEO pay skyrocketed yet again as it does every
year. Now, some pay for CEOs only saw about a 4% increase. That’s not too too much right?
But those guys still made almost $20 million that year. Some of the bigger wigs at the
big insurance companies, they’re up to 30 and 40 million per year. Same thing with drug
companies, CEOs, hospital corporation, CEOs. These folks are rolling in cash. They are
not hurting for money. even though we are, and they know that and
now we know that they know that and they’re still not going to do anything about it. They’re
not going to reduce costs for us. And that is why this entire system has to be burnt
to the ground and built with a government funded program that is the only solution.
Medicare for all will save us if we let this private industry survive, they’re going to
keep trying to kill us.

100 thoughts on “Hospital CEO Admits His Industry Causes Bankruptcies Then Praises Their Profits

  1. I'm barely surviving because of unethical conduct and malpractice. The scumbag hospital CEO covered. At the time the R's in Congress (gingrich led) were pushing legislation that if you sue and lose you pay ALL legal fees. One of the many reasons that I always vote blue. 100% of doctors are Republicans.

  2. America has never gotten health care worked out. No interest, 'we' versus 'they' attitudes, and greed are reigning high in the US, not only regarding health care, also re public schools (DeVos, remember?) and other industries.

  3. And yet I still see plenty of comments from people who take it for granted that people who can't afford health care don't deserve it but there is also Phil Robertson who gets his health care for free.

  4. These are the corrupt people we need to lock up and bury them under the debt they owe cause of them stealing from the american people.

  5. I have worked in direct patient care at a hospital for almost 40 years. In addition to the very valid points you raise, also add the huge cost of regulations put forth by the government and "private" regulatory agencies and their own administrative costs which are passed on to patients. Also true, drug costs are high but even something as simple as a bandage can be outrageously expensive for our patients. Non patient-care management justifies their positions by micromanaging patient-care staff causing huge amount of burnout and constant "turnover" of patient-care staff and unfortunately this can and does lead to errors. This constant training of new staff is also a huge unrecognized cost to hospitals and in many cases these employees choose to leave their job within 12-18 months.

  6. The majority of Federal taxes go to your Armed Services. Your taxes should go towards public healthcare (medicare for all), public education and public transportation. These sectors help every citizen to improve themselves and family. The excessive spending on military should go towards the citizenry.

  7. Former representative and progressive Alan Grayson said it best: the republican and Democratic healthcare plan for the working class:

    Step 1 don’t get sick
    Step 2 if you do get sick
    Step 3 die quickly

  8. Former Rep. Conyers wanted to outlaw insurance companies, but he was forced out when someone came out of the woodwork saying he touched her. In the House there’s a bill to outlaw the insurance companies and automatically puts Medicare for All into place with that one law.

  9. Sure, we're screwing our customers but, hey, what are they gonna do, go somewhere else? Hahaha hahaha hahaha…

    The rich just keep getting richer. I don't know if medicare for all is the answer but there should be some baseline healthcare available to all.

  10. you have to wonder, how did these people get through school without ever learning the definition of the word "enough"? i mean, isn't 30mil. a year enough? especially when most are lucky to see 30k a year. how about the word "compassion", do you think they know what that word means? i say we give them a block of instruction on the words "pitchfork", "torches", "guillotine", and "retribution".

  11. How. Goddamned stupid does a CEO have to be to even think for a second that continued growth is possible with bankrupt clients?

    This is. This is insanity.

  12. This may be the point we're at-maybe having to kill people like this can be counted as acts of self-defense or defense of another.

  13. I don't know, if you want to keep being profitable, may…..KEEP YOUR FUCKING CLIENTELE ALIVE YOU SOULLESS FUCKS. Just a shot in the dark here, you keep them alive, they keep paying their bills. Basic economics, give something to someone that they want, keep them buying it for as long as possible. Longer life=more monies for you greedy demon shrews

  14. I am Sure everyone watching this at least, Really feel bad for people dependent on the health care system. Now honestly put yourself in the state of mind, that You are actually
    are this person… and at this time ' The System ' is failing you… and you know the final result ! My friends, I wish this on No One !

  15. When Republican politicians tell Americans how bad the Affordable Health Care Act is and how they are fighting to destroy it, why do these same Americans who need affordable healthcare not only listen to them, but they vote for them again and again? Now you have 45 doing everything he can to undermine affordable healthcare and offering smoke and mirrors in it's place.

  16. Wife had a spinal surgery three days ago. Cost $165k. Thats not a typo. I had to call the insurance company and give them a motivational speech. The suregry had to be rescheduled twice. Insurwnce claimed “sorry we just had not got to it yet”

  17. It's absolutely embarrassing for me to have to make a gofundme and ask strangers for help because my insurance WON'T cover the treatment that the hospital says I MUST have or this could kill me.. This is how disgusting they are and why we NEED BERNIE I WROTE THE DAMN BILL SANDERS FOR PRESIDENT!! ❤️

  18. Health insurance companies are one of our worst enemies. Now even private hospitals are some of your worst enemies

    #RickSanchez #LeeCamp #KimIversen #TYTNation #DemocracyNow #VICE
    #NowThis #TheYoungTurks #TonyDortie #PoliticalNewsNetwork #TheMajorityReport #BradReed #BrianTylerCohen #ColdFusion #GrahamElwood #JohnOliver #EleanorNeale #NHKnews #ANN #FNN #JNN #Arirang #KBS #SBS #MBC #RTAmerica

  19. Make a Constitutional Amendment for all American citizens to be entitled to basic healthcare. Capitalism does not belong in healthcare.

  20. I am a pensioner, I have arthritis, lately, it's getting worse so I went to my specialist{no charge, no co pay} and he put me on a new biologic treatment, injectable 1 per week or 4 injections a month. So for fun, I went online and asked what this drug would cost in America. The result was mind-blowing the cheapest equivalent drug was $2700.00 dollars per month and it went as high as over $5000.00. Now you may think your northern neighbours are a bunch of commie pinko's but my cost for the monthly prescription was $4.11 no lie and the pharmacy delivers it to my door every month. I am a senior but still. Your politicians telling you that you can't afford universal medicare is a damn lie, even England who was bankrupted after WW2 instituted the National Health Care Service. I feel so sorry for the hardship in the U.S. as people come north to buy their insulin, it's sad. I live in the city where Insulin was discovered, Dr. Banting gave away the rights to it so it would be available to everyone. Vote my friends.

  21. These people will risk your life to make a big paycheck from your insurance company. About a year ago my friend received a liver transplant from a Intermountain healthcare hospital in Murray Utah, they transplanted a diseased liver into her while representing the liver to be healthy. That's right they lied. The diseased liver had a tumor and two active viruses that can kill you, CMV (Cytomegalovirus) and EBV (Epstein Barr Virus) the Epstein Barr Virus developed into PTLD (Post-transplant lymphoproliferative disorder) a form of Lymphoma cancer. She was fighting for her life against cancer just so the hospital did not miss their chance to transplant this diseased organ into her body.These hospital organizations are out of control and are more than happy to risk your life to make more money disgraceful !!!

  22. My boss's first wife died of cancer. He was at the hospital with her every day. He even slept in the room with her. After her death, he gotten a huge bill. He knew it would be huge but he saw the detail of each cost and he was paying for other doctors as well as his wife's doctor. He never saw any of them. Turns out, they just pass the clipboard around for each to sign. So he only paid for their signatures. Hospital may try to help people get well, but they also help people empty their pockets. What crooks! Later, my boss went to his doctor for yearly physical and told the doc that they are all crooks and told him what happened. His doctor paused, then nodded his ahead in agreement. Just saying, "That's the way it is." What BS!

  23. healthcare facilities flat out only care about one thing “keeping the treatments going”. Sad to see. Doesn’t matter that they will make huge profits no matter what.

  24. All types of insurance companies are nothing but a bunch of vultures. Worst humans on the planet. SCUMBAG asswipes.

  25. Oh com'on Farron, don't be naive. You know that they are going to do both, raise price and cut care. Pay more, get less

  26. As an expat, when I never even think about HC until I need it.
    Then I get treatment free at point of service and recover.
    If therapy is needed. It’s also provided.

  27. Let's just go to their houses and take back what's ours, we are the 99% and we hold all the power when things get physical.

  28. Used to work for the intermountain healthcare group. Mark Harrison is a total scumbag. Its why I dont work for the intermountain healthcare group anymore and warn people to never work there. They dont save people at those hospitals. They only try to figure out what the most expensive way they can treat you, and then slap you with that tab that insurance companies arent going to cover. Oh and to make matters worse, the Church of Latter Day Saints have their grubby hands in all this blood money. They push Harrison to milk Utah for all it's worth.

  29. Calling it "Healthcare" is an oxymoron. The last thing the industry cares about is about the health of it's subscribers. It's one of the most ineffective, corrupt industries in this country. The whole industry desperately needs to be regulated.

    They have all the power. They set their pricing for the cost of coverage, raising it every year. The co-pays are horrendous. They set requirements that a patient must meet before a person sitting at a desk decides whether, and when, a person can get treated. The days of the doctor having a say in a patient's care, are gone.

    For a patient needing surgery the doctor must show the patient has met certain treatment requirements. The usual steps are: bed rest, medication, therapy, specialized testing (i.e., CT/MRI), then maybe surgery. Keep in mind, this can take up to 90-120 days. In the meantime, patient's lives are on hold, they are living in pain, and often living on pain killers, IF the medication is approved by the insurance company. This doesn't even guarantee the patient's procedure will be approved after meeting the requirements.

    If your procedure is denied, you're allowed to appeal, but that rarely results in the patient's favor. The next step would be for your doctor to have a Peer-to-Peer discussion with a doctor from the insurance company. Great, huh? Until you discover it's usually someone in a different field making a "learned" decision. A pediatric specialist deciding a case for heart surgery? It happens ALL the time.

    Is Medicare for all a good idea? Who knows. But, something has to be done to change things. Insurance and drug have all the power. These companies need to be regulated and serve the people paying the premiums instead of lining the pockets of its administrators.

  30. I wonder how quickly hospital CEO attitudes would change if… Someone or an angry group began targeting their families or burn down whatever mansions they live in. 🤔

  31. How do you grow revenue by cutting back on services? I thought you would say the only two ways of growing revenue are charging higher prices or getting more patients in the hospital. Cutting back on services would increase profits, if that is what you meant to say instead of revenue.

  32. Maybe a law could be inacted, for the people, that would BAN CEO'S.
    If you own a company, YOU should stand out front and speak for it. Make owners show their face. Also NO company's owned by groups of people, like wall street, unless you're a charity, a proveable charity. Freedom is for the people, corporations are not people…. We need to change supreme court. We must hope for a peaceful safe world.

  33. If you think the CEO of hospitals is bad you need to check out what the CEO'S of health insurance companies make.

  34. AFA (Obamacare) protected your homestead, car and basic assets from medical bankruptcy seizure.
    And Trump reversed that protection of your homestead.
    Try taking my home & land if I get sick, and you will regret it if I get well. TrumPEDO Cancer spreads in dangerous ways FOR PUTIN'S BENEFIT.

  35. The finest cognitive dissonance money can buy. "Sure, we destroyed the biosphere, but there was a lot of money to be made at the time."

  36. We need in the USA National Health Care that includes dental care also. The $$$$ we have wasted on wars in the Middle East for the corporations making $$$$ is a scam. Congress took Social Security funds to pay for wars starting with Vietnam. They wrote IOU"S and never paid back what they received from the contribution of taxpayer monies.

  37. Before 1973 it was illegal to make money off of healthcare… Nixon took bribes from Kaiser, the CEO of Kaiser Permanente back then and changed it so that healthcare could make profits. Since then it has always only ever been about profits! –Farming people's illnesses for profits.

  38. "GREED IS GOOD" Gordon Gecko in "Wall Street"…."Never underestimate the other guys GREED." Cocaine boss Frank to Tony Montana in Brian DePalma's "Scarface"…..

  39. They don’t CARE…. all they want is 💸💸💸 that’s it. They don’t care about a single one of us. I just really don’t understand why the everyday American people. The ones footing these bills aren’t all in for M4A… I don’t understand it. It’s so clear. People love going broke I guess… the answer is clear on how we can fix it. 🤷🏼‍♀️💸

  40. Forget reformation in this country, we need REVOLUTION!

    Tear DOWN capitalism LIMB FROM LIMB and build something NEW!!

  41. Yep, perish the thought they might just be Samaritans…
    Only interested in doing right by their fellow "man"….

  42. There are no loans allowed unless from payday loans companies! No out of the country traveling to Canada with monitors in place as if they are prisoners! We take passports! When they can’t afford to pay the money back the car is repossessed! No insurance from their jobs! No selloff of stocks because everything they own is forfeit! No going back to work until they are medically certified by a doctor without affiliation with them or any friends! NO BONE SPURS EXCUSES ! Houses are allowed to take loans against BUT all payments for their medical care costs are not allowed until they pay them off at the same inflated prices the average person pays! An example was a lady who took her baby in because of severe colic! They gave the baby a bottle and suggested that she change the formula over $3000 grand for the bill! No more $500 aspirin! All costs must be obtainable in writing ✍️ by any hospital with costs alternatives from other hospitals! Any undisclosed out of network medical care allowed for emergency service and tripled for them! They get the same billing for everything we get! See if costs don’t deflate!

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