WATCH: Dr. Oz Unwittingly Reveals He Doesn’t Know How Credit Cards Work in Fox News Blunder
Centers for Medicare and Medicaid (CMS) administrator Dr. Mehmet Oz accidentally revealed on Fox News, Wednesday, that he has no idea how credit cards work.
Discussing the new pledge from the health insurance industry to provide patients with better service and care, Dr. Oz told Fox News host Laura Ingraham:
President Trump made it very clear we’re not fooling around on this. This is a wrong that the American people should not have to suffer through. 85% of families say they’ve been hurt by pre-authorizations. Prior authorization happens at a sensitive time in your life. You’re about to get a really big diagnosis. Is it good? Is it bad? When you’re having that precious, coveted discussion with your doctor, all of a sudden the long arm of the insurance industry comes in there and interrupts you and says, “Wait a minute, we’re not sure your premium covers that or not,” and that has led to a crisis in confidence among patients. It’s also hurting doctors like me.
He explained:
The reality is, if we’re doing forty prior authorizations a week, taking 12 hours of our time to get our patients cleared for procedures, that’s inefficient, so we went to the insurance industry and we were very clear: “Secretary Kennedy feels this is wrong, the president feels this is wrong, we have to make a deal. So either you do it or we’re gonna do it for you, and it’s a lot less painful if you guys get together and figure this out and actually make a pledge,” and that’s what they did yesterday. They promised the American people and me and Secretary Kennedy and President Trump that they’re gonna work out a system to make prior authorization quick, painless, less expensive.
Proceeding to make an analogy about how the system should work going forward, the former television host-turned-Trump appointee unwittingly revealed his lack of knowledge about how credit cards actually work.
“We’ve insisted on a dashboard. They have to be public at what they’re doing. We want to know, for example, by the end of this year, can you do these examinations instantaneously, like credit card?” he said. “When you put it into the machine to buy something, they don’t prior authorize you. You either have money in the bank or you don’t.”
Credit cards do, in fact, have a prior authorization to determine how much money you can spend on that card. That authorization is based on several factors, including the individual’s credit score and income. Credit cards also allow an individual to spend money they do not actually have in the bank – the “credit” in “credit card” referring to this form of debt.
Rather, Dr. Oz seemed to be referring to a debit card — which functions in the manner he spelled out, where a user can only spend what they have in their account.
Watch above via Fox News.
