In the company’s first earnings call since the fatal shooting of Brian Thompson, Group CEO Andrew Witty acknowledges shortcomings of the U.S. health care landscape.
“Participants in the system,” he said, derive benefit from high health care costs. While lower prices and improved services can be good for consumers and patients, Witty said, they can “threaten revenue streams for organizations that depend on charging more for care.”
Yes this basic human right could be cheap or even free, but then how would shareholders make more money exploiting it?
His entire business model is based on reducing the efficiency of health care spending and he is directly incentivized to maximize profits by minimizing health care spending efficiency.
The concept of insurance makes sense - pooling risk so that everyone can share a little pain all the time, so that unlikely but catastrophic events don’t wipe individuals out. Making this arrangement for-profit is asinine.
He’s also just straight up lying. I’m a participant in the system with chronic health issues. I would have benefited more from never going to see a doctor and kept my family out of debt than what I ended up doing.
Sounds like he’s trying to cast everyone else but the insurance companies as the bad organizations, and that they will be taking measures to make that more clear to the people.
In short “don’t shoot us, shoot these other guys if you have to shoot someone!”
wow he really said this?
“Participants in the system,” he said, derive benefit from high health care costs. While lower prices and improved services can be good for consumers and patients, Witty said, they can “threaten revenue streams for organizations that depend on charging more for care.”
Yes this basic human right could be cheap or even free, but then how would shareholders make more money exploiting it?
His entire business model is based on reducing the efficiency of health care spending and he is directly incentivized to maximize profits by minimizing health care spending efficiency.
US health insurers literally offer zero social benefit. They should not exist as the entire industry in harmful rent seeking.
The concept of insurance makes sense - pooling risk so that everyone can share a little pain all the time, so that unlikely but catastrophic events don’t wipe individuals out. Making this arrangement for-profit is asinine.
He’s also just straight up lying. I’m a participant in the system with chronic health issues. I would have benefited more from never going to see a doctor and kept my family out of debt than what I ended up doing.
Sounds like he’s trying to cast everyone else but the insurance companies as the bad organizations, and that they will be taking measures to make that more clear to the people.
In short “don’t shoot us, shoot these other guys if you have to shoot someone!”
Bro literally said,that they don’t care about anything but profits and are willing to kill people for this.