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Transcript of Rahm Emanuel Monitor Breakfast

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So when you say the money – if I get one point across on this. It’s not something new, totally different. It’s within the system, and reassigning it, realigning it, with the kind of outcomes that you would like to see. And doing it towards more efficient, productive, whatever the word you wanna use to describe.

I think the president spoke yesterday, last night, on the issues you said, on the exclusion. But the first priority is, he said, is to deal with the savings within the system. That’s why he proposed, of the 950 billion dollars’ worth of savings or cost-cutting, whatever word you wanna use, two-thirds of them come from ways you would deal with the insurance company and how they get reimbursed. Today, we pay 115 to 120 cents on the dollar to managed care companies in the prescription drug area, which –

I remember the '90s, they used to – their big selling card was, pay us 95 cents on the dollar, we’ll do it better than Medicare. Now they need 120 cents on the dollars to do it. That’s 177 billion dollars over 10 years. Now, you can find that savings by not subsidizing them. OK? And they can deliver the same service as Medicare for 100 cents on the dollar. That’s just one example.

There are other savings inside how we deal with doctors. How you deal with the nursing home industry, how you deal with the pharmaceutical industry that reassign those dollars. He has also offered, as you know on the revenue side, the 28 percent issue. It’s not exclusion, I’m – the exemption. That’s his idea, the Senate and the House have said no to that. The House is looking at something else that you’ll be hearing about, and the Senate will be looking at something else.

The president has offered, though, 950 billion dollars in either savings or other type of revenue, to [inaudible], but it’s realigned within the healthcare system.

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