Time for a pop quiz: When it comes to health care, what's the difference between cost, charge and payment?
"Does anyone want to take a stab at it?" Sara-Megumi Naylor asks a group of first-year residents at the David Geffen School of Medicine at UCLA.
Naylor answers her own question with a car metaphor. "Producing the car might be $10,000, but the price on the window might be $20,000, and then you might end up giving them [a deal for] $18,000, so that's cost versus charge versus payment," she explains.