Dr. Mehmet Oz on Fixing American Healthcare + Fraud | Live from Davos

Watch on YouTube ↗ | January 24, 2026 at 06:34 | 1:05:43 | All-In Podcast

Speakers

Mehmet Oz — Administrator for the Centers for Medicare and Medicaid Services

Jason Calacanis — Angel Investor / Founder, LAUNCH

David Sacks — General Partner, Craft Ventures

Summary

Jason Calacanis and David Sacks interview CMS Administrator Dr. Mehmet Oz at Davos about the Trump administration's healthcare agenda. Oz explains most-favored-nation drug pricing, the TrumpRx deal with Novo Nordisk and Eli Lilly that cuts GLP-1 prices to about $200 for injectables and $150 for the first FDA-approved pills, with a $50 Medicare co-pay and free access for Medicaid, and CMS's push for AI-driven, interoperable, self-directed healthcare backed by a $50 billion rural health fund. The second half covers Medicaid and Medicare fraud in hospice, home health and durable medical equipment across Minnesota, California and South Florida, a coming provider moratorium and payment cutoffs to non-compliant states, California's budget and audit vetoes, and the incentives behind immigration and addiction.

Most-favored-nation drug pricing: US to pay less, UK and other countries agreeing to pay more; pharma expected to bend, not break, and to onshore production.
TrumpRx launches next week with Novo Nordisk and Eli Lilly GLP-1s at about $200 cash; first FDA-approved GLP-1 pills arrive this month at about $150.
Medicare patients get GLP-1s for a $50 co-pay and Medicaid patients for free; CMS models taxpayer payback within two years from lower chronic-illness costs.
600 companies signed an interoperability pledge; AI is framed as the glue for patient-owned medical records and for making GPs 5-10x more productive.
$50 billion Rural Health Transformation Fund disbursed to states, with most plans centered on AI, micro-clinics, robots and drone delivery.
Fraud crackdown: hospice, home health and DME fraud concentrated in California, Minnesota and South Florida; moratorium on new providers and Medicaid payment cutoffs to states that do not police fraud.
CMS says California improperly charged the federal government $1.5 billion for care of illegal immigrants and is now paying it back.
Sacks: California's budget doubled to $350 billion with a deficit, vetoed audits and a proposed asset-seizure tax pushing job creators out.

Ideas

Mehmet Oz Administrator for the Centers for Medicare and Medicaid Services 5:54

MFN pricing squeezes pharma but preserves innovation

Most-favored-nation drug pricing is the administration's flagship use of its power to convene: Americans pay several times more than Europeans for the same drug from the same factory, so CMS built leverage (rules and projects that would hurt pharma if enacted) to push the industry to cut US prices while foreign governments pay more, and the UK has already agreed. The explicit mandate is to take the fat out without hurting innovation, bend but do not break, and drug companies have already come to the table, so this is a pricing reset for the sector rather than an attempt to break it; the same negotiations are pushing manufacturers to onshore production and hire American workers.

Jason Calacanis Angel Investor / Founder, LAUNCH 29:54

GLP-1s are miracle drugs going mass-market

Speaking from his own experience going from 213 to 172 lbs on Ozempic after a doctor told him he was not diabetic but was fat, Calacanis calls GLP-1s a miracle drug that tens of millions of Americans have already tried and that is about to move to pill format. Because obesity drives the four horsemen (heart disease, kidney failure, liver disease and dementia) and GLP-1s appear to blunt all four, he argues the drugs should be made available to every American, which would massively widen the user base.

Mehmet Oz Administrator for the Centers for Medicare and Medicaid Services 31:39

TrumpRx GLP-1 deal expands Lilly, Novo access

CMS has agreed prices with Novo Nordisk and Eli Lilly under the most-favored-nation push: GLP-1 injectables that cost about $1,200 cash will start around $200, and the first FDA-approved GLP-1 pills launch this month at about $150, all sold cash-pay through TrumpRx, which launches next week. Every Medicare patient gets the drugs for a $50 co-pay and every Medicaid patient for free, opening the underserved population where obesity is concentrated rather than the Upper East Side and LA zip codes that dominate use today; CMS internal modeling says taxpayers recoup the cost within two years through lower hypertension, diabetes and other chronic-illness spending. Both companies are also onshoring production, and the pill form factor (no cold chain, exact dosing, lower price point) lets the class be delivered at scale.

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This All-In Podcast video, published January 24, 2026, features Mehmet Oz, Jason Calacanis discussing XLV, GLP-1 drugs, LLY, NVO. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Mehmet Oz, Jason Calacanis · Tickers: XLV, GLP-1 drugs, LLY, NVO