(43:07)

RH: “I’m an economist by training. When I graduated from my graduate program in economics, my advisor asked me what I was going to do. I was already working in the industry and I told him that I work in healthcare. He said, ‘That’s a shame, Ron. You’re a good economist. Why would you do that?’ and I asked him, ‘What do you mean by that?’ And he said, ‘It’s a broken economic market, you know that.’ What he was talking about is, in a normal marketplace, there are a number of factors that regulate cost and provide value. Most of those factors are completely broken in healthcare, the first being that the consumer is typically not the purchaser. When you think about it, the vast majority of healthcare is purchased either by an employer, paying the bulk of the premium, or the government. Well, one way that I tell people to think about this, assume for a minute that as a job benefit, you got a brand new car every two years and you had to pay the first $500. You had a $500 deductible, but then you could get a new car every two years. Would anyone go shopping at the Ford or Chevy dealership? No, we’d all be at the BMW or Ferrari or Mercedes dealership because we’re insolated from the cost realities of our decisions. That’s healthcare.”