No one, and I mean no one other than the accountants and clerks knows what healthcare services and products cost. Not doctors, not nurses, not the patients. The U.S. spent 17.2% of GDP in health care in 2024 versus the other top 10 OECD countries, averaging 11.3. A 2019 JAMA paper estimated that at least 25% of U.S. healthcare spending is administrative waste, errors, overcharging and fraud. That would not be possible in a consumer driven competitive market. (03:13–03:24)
CLAIM
Asserts that U.S. healthcare spending is 17.2% of GDP compared to 11.3% in other top OECD countries.
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