A deep dive into The Rojas Report and its core thesis:

American healthcare isn't broken, it's rigged. This episode prosecutes the case against the healthcare cartel, breaking down exactly how large hospital systems extract $275 billion annually through Medicaid supplemental payments, 340B drug arbitrage, site-neutral payment violations, and tax exemptions that benefit the wealthy empires while rural hospitals close.

You'll learn:

• Why Bill Gurley says Silicon Valley succeeded because it's 2,851 miles from Washington
• The Nobel Prize-winning concept of "regulatory capture" and how it crushes independent physicians
• How 340B transformed from helping AIDS clinics to an $81 billion arbitrage machine
• Why the same heart scan costs $150 at an independent office but $400 at a hospital-owned clinic two floors up
• The JAMA study showing 7.3% of nonprofit hospitals capture 50% of all tax benefits
• How the AHA's $29 million lobbying investment protects a 7,000% return

The Prime Directive: No one cares about healthcare policy. They care about getting screwed.

Action item: Look up your local nonprofit hospital's Form 990 on ProPublica's Nonprofit Explorer. Compare executive compensation (Part 7) to actual charity care (Schedule H). Then ask yourself if that looks like a charity.

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