Why Should Doctors Talk About Healthcare Costs?

A doctor at a Miami event claimed physicians shouldn't discuss money with patients. The speaker argues this is a myth with no actual rule behind it, and that patients actually want cost conversations with their doctors as part of deciding on care.
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Docs shouldn't talk money with patients. Okay. Now, why? Who told you that? I'm going to tell you a story. I was in Miami, Aventura actually, doing an event with my good friend Atiba. And the event was put on by Eric and we wound up doing an afternoon session and we were back like in a small area, in a small conference room. And they gave us like 2 and a half hours and Atiba and I go through and we do our dog and pony show. And at the end, I was talking about using scripts and how you should charge premium prices and signature solution. And one of the doctors goes, well, should we have a salesperson on staff to make the sale? He said, because doctors shouldn't discuss money with patients. And man, he triggered me, right? And I looked at him and I spun on a laser and I said, who told you that? Told me what? That doctors shouldn't discuss money. Well, you know, it's just kind of common. You know, everybody knows that doctors shouldn't discuss money with patients. I go, really? Says who? Well, you know, they told us that in medical school. I go, really? From who? What do you mean? And I go, who created the rule? Where is it codified? In the United States Constitution or in the AMA or whatever? Where is it written? As a law that if there is felony penalties, that doctors shouldn't discuss money with their patients. He goes, well, you know, I just don't think doctors should discuss money with patients. And I said, then you will never create the money that you want. He got really upset with me, and I'm glad he did because I wanted to shock him. And I could tell everybody else in the room, like a couple of people were leaning in. Who the bleep told you that you are not to discuss money with your patients? Who? What? What dead broke doctor, med school professor, what doctor, what administrator, what college professor told you the lie that doctors should not discuss money with their patients? Because I'm going to tell you right now, as a patient, if I want to discuss the cost of my health with anybody, it would be my doctor. That's who I want to have the conversation with. I don't want to have a conversation with anybody else about the cost of my healthcare besides my doctor, because I believe that my doctor has my best interests at heart. Okay? So I want my doctors to discuss money with me and the cost of my care and weigh the pros and the cons with me. There is a belief that doctors shouldn't discuss money with their patients, and it's false. It's wrong. It's a false belief. And I would ask you to examine who told you that and where does that belief come from.
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