What's your take, Scott Bennett, on the polo quarter zip?

As an owner of a quarter zip...

It slipped into the wardrobe.

It's a nice outfit.

It's a Paul Smith quarter zip.

I thought it was on safe ground.

But do you know what? I think as you get older, I find fashion troubling in a weird way.

No child of mine

yeah because you well also you needed that to work right

Well, that's the other thing is that what you've said there is you've gone to a roulette wheel and you've put everything on red.

And there's that fear.

The fear of failure is what got me in my car and got me writing and got me...

You know, I used to come in here where I've got this shed of writing and I'd come in here and I'd write for like three or four hours every day and just start creating.

And I feel like for me...

It took me a while, though, to process that because I felt guilty because effectively I kept saying to Gemma and I went and saw a woman and had CBT.

Did you have a little checklist or a thing in your head of going right?

But he says the results overall are a mixed bag.

When conditions are right, you can literally regrow a forest within a year.

The challenge we have in Tasmania is that those conditions are, are rarely right anymore, or they're, they're, they're often not right for long enough.

And so while we might get, um, suitable conditions and they grow really well for nine to 12 months, there's... unfortunately in Tasmania, under our current climate, there's, there's many ways to die.

that from the very beginning?

Yeah.

Oh, yeah.

From the very first, I was like, why are we going to Iraq? You know, but, you know, I was young and full of piss and vinegar.

But, you know, the more so.

So at that point, I was very mainstream and I was listening to NPR and reading The New York Times and, you know, believing all that stuff.

And, you know, Paul Krugman was my favorite economist.

hey girl so many friends in our show tonight

How should people approach these market downturns and be ready when things turn around? Yeah.

It's a great question.

And so with Invest With Rules and IWR Advisors, we follow the trend, we follow big money, and we follow a lot of risk management rules.

But before I started Invest With Rules and IWR Advisors, honestly, things were a lot different for me.

So I'll take a little step back and I'll share my journey of where I came from and some of the challenges that I personally had.

And I'm going to take you back probably, 15, 20 years.

And I was an IBD, Investors Business Daily student.

And maybe you're going too deep that those losses are more than they should be to your portfolio.

So I'm assuming the same facts, the same situation, we wouldn't have a problem today, correct?

And now we're getting into No Surprise Act.

So neuromonitoring was one of the key surprise types of bill.

Assistant surgeons and neuromonitoring, right? This assistant surgeon shows up and all of a sudden there's a humongous assistant surgeon bill out of network.

Nobody knew about it.

Neuromonitoring, even sort of more sinister feeling because it's just somebody out there when you're getting this surgery that's watching and charging a lot of amount.

So the NSA protected patients.

Could you give us an example of a company and maybe share a story on

so like do you explain to the listeners you know when someone gets a bill typically from a hospital how that's different from an itemized bill when it comes to this context, right? So how does it all work? I mean, you explained the money, very big sums, but how is it explained to the actual patient who may be responsible for the bill?

I think that's a great thing because there's so many documents and so many different ways to write this.

And it goes to so many different parties, all these statements of what was done and that sort of thing, that it is very confusing.

You get a letter and the letter has an amount on it, sometimes just a lump sum and it says to pay it.

Well, that could be technically a bill.

It's more like a statement.

And that's not really, when I'm talking about hospital bills and hospital billing, we're talking about some standardized forms that typically are only exchanged and seen between the carrier, the insurer, and the provider.

So I'm assuming because this bill is on the radio show as a topic that the bill was unreasonable in your opinion.

All right, Scott, what do you got for me, buddy?

All right.

So first, the Drew Calver bill, even though it happened before the No Surprises Act, is a perfect lens to kind of see what's happened with the No Surprises Act and where things are now.

So it's really good to have this example of a bill where at the time it was a balance bill, and that balance bill was $109,000 to Drew Calver, which is twice his annual salary.

And it was because his insurance paid an amount and the provider had the ability to just balance the rest to him as a bill.

So the NSA came into place.

First of all, it was very high billing.

So what is the data that is supposed to be used when trying to make this kind of decision? But also, just as important and interesting to me, what data is not supposed to be utilized in making these determinations?

So would you mind reminding our audience what happened and how you found all these details?

Yeah, absolutely.

And this is, it's the original bill.

It's one of those bills that really got out there into the news and caused a lot of people to understand just how bad this was and why there needed to be some sort of regulatory fix.

And so I think it's Drew Calver.

He had He had a heart attack in his home.

And just to give you the facts on the bill and then talk about it.

Obviously, we're going to pay you more than that, but that's the starting point.

What determine those categories and what do they actually reveal in this report?

Right, so the data question, the question we were trying to answer is all this data came out and this time, very transparent, they're getting better, the data had the provider's NPI, national provider information.

So you could see who had initiated these reports.

It also showed what their offers were and how much higher their offers were than what what's considered the medium market or that qpa so we had some really good information there and we looked at two things first we took other cms data transparent data and we looked at provider billing aggression in their own estate and that just means how high is a provider billing compared to other providers so is this a provider who is billing $500,000 when everybody else is billing $100,000.

So billing aggression was one.

And then we looked at what we'll call offer aggression.

So how many providers in this new data were actually making really high offers? So billing high and offering high, that sort of thing.

So what reforms, I mean, outside of the FIA group trying to negotiate in that 30-day window before it gets to the IDR, what possible reforms could change the dynamic so that there is more negotiation and less arbitration?

Can you tell me more about those species? What sorts of creatures are we talking about?

I mean, there's a whole host of really weird and wonderful things.

I think some of the most iconic species are, like our leafy sea dragons, um, particularly around the Adelaide coastline and the Fleurieu Peninsula, places like Rapid Bay and Victor Harbor.

These are real tourist attractions to come and see these leafy sea dragons, which you only find in South Australia and in, in parts of, um, southwestern Australia, you know, across to Bremer Bay.

But in the early days of the bloom, people were finding dozens of these washed up and, you know, they're not huge populations, so they're obviously a massive concern.

Another massive concern, which is a really live issue at the moment, are the giant cuttlefish.

And each year, there's this remarkable event where just thousands upon thousands of cuttlefish come and aggregate in this small area to mate and lay eggs.

So as you watch that happen, what is that telling you about the fate of our oceans more broadly?