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Bausch + Lomb (BLCO) CEO Brent Saunders argues that transparency is the key to addressing the inefficiencies within the US healthcare system. On a recent episode of Opening Bid with Yahoo Finance Executive Editor Brian Sozzi, Saunders drew a comparison to Elon Musk’s Department of Government Efficiency (DOGE), which has made transparency a focal point, citing publishing of what programs are being cut on the internet. Saunders believes that a similar approach could help clarify why certain healthcare services are priced the way they are.
“We should have real pricing transparency,” he said, emphasizing that consumers would benefit from knowing where their money goes and why some services are more expensive than others.
While Saunders recognizes the US healthcare system's strengths, particularly in innovation and access to cutting-edge treatments, he acknowledged that affordability and accessibility remain significant challenges. He argued that transparency should not be limited to the pharmaceutical industry but should apply to all aspects of healthcare. For example, Saunders pointed out that consumers don't have access to pricing to compare the wide cost variations for an MRI at different facilities. “Why shouldn’t you, as a consumer, know that?” he asked frankly.
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This post was written by Rachael Lewis-Krisky, producer for Opening Bid.