Jack Welch

Complaining about health care prices is nothing new. The medical component of CPI has been higher than the overall CPI for decades. As far back as 1989 Gerry Anderson and colleagues showed "It's the Prices, Stupid" that explained why our national spending was so high compared to other countries. More recently, Elizabeth Rosenthal detailed those prices in an series of reports in The New York Times. She recently followed those up with her incisive book An American Sickness. Dr. Rosenthal also illustrated some of the clever techniques used to wring the most money out of our pockets, such as the upcoding industry and tacking facility fees onto visits. As the saying goes, if you're sitting at a poker table and you can't figure out who the sucker is, it's you.