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.
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.
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.