Robert F. Kennedy Jr.: “Hip replacement in Boston cost $17,900 at one hospital, and at a nearby hospital, it costs $74,000 for the…”

“That matters because Americans have spent decades paying into a system whose prices bear little relationship with each other because there's no market. It was completely arbitrary. We see this in the data. Hip replacement in Boston cost $17,900 at one hospital, and at a nearby hospital, it costs $74,000 for the exact same surgery with the same Yelp reviews. Researchers have found MRI prices varying as much as nine fold within a single city. And one analysis found that 60% of insured negotiated hospital rates were higher than the hospital's own cash price.” (15:35–15:52)

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